Good afternoon! It’s Monday, and I’m nonetheless excited about final night time’s White Lotus season finale. (There are spoilers within the hyperlink.) Right here’s what you’ll want to know right now.
1. Shares sank globally as Trump pushes forward with a commerce warfare
U.S. shares fell modestly after a rollercoaster day following President Donald Trump doubling down on his tariffs. The S&P 500 closed down 0.8% in late buying and selling, The Related Press experiences, the Dow Jones Industrial Common was down 1.5%, and the Nasdaq composite was 0.6% decrease. (Right here’s a primer on how the inventory market works.)
In the meantime, markets in Europe and Asia reported main losses.
Consultants are anxious a couple of bear market, when an index such because the S&P 500 or the Dow Jones Industrial Common has fallen 20% or extra from a latest excessive for a sustained time frame. [AP]
And a few enterprise leaders, together with JPMorgan Chase CEO Jamie Dimon, who runs the biggest U.S. financial institution and is without doubt one of the strongest leaders on Wall Road, warn the tariffs will increase costs, gradual financial development, and harm the nation’s world standing, NPR experiences.
Goldman Sachs right now raised its prediction for the probability of a recession from 35% to 45%. [NPR]
Right here’s how a private finance columnist advises households to arrange. [NPR]
2. State Sen. Emil Jones III is lastly heading to trial on his 2022 bribery prices
A parade of state lawmakers have confronted felony prices in recent times, solely to resign from the Illinois Basic Meeting and admit their crimes. Now Jones’ profession — in addition to his freedom — might be on the road, my colleague Jon Seidel writes for the Chicago Solar-Instances.
One problem for the U.S. lawyer’s workplace is the U.S. Supreme Court docket restricted using a well-liked bribery legislation at play in Jones’ case, that means prosecutors should present an intent to change one thing of worth for an official act.
Jones represents the 14th District, which incorporates components of Chicago’s South Facet and a number of other south suburbs. The feds say he agreed to guard a businessman with an curiosity in a red-light digital camera firm, SafeSpeed, in change for $5,000 and a job for somebody who labored as an intern within the senator’s workplace.
The case revolves round a invoice Jones filed in February 2019 that might have required the Illinois Division of Transportation to conduct a statewide examine of automated site visitors enforcement programs, together with red-light cameras.
The trial is predicted to final not more than two weeks. [Chicago Sun-Times]
The tasks included on-line property data and tax payments for Prepare dinner County, the power to learn and file Circuit Court docket circumstances on laptops and a unified dashboard for the Illinois Supreme Court docket.
Texas-based Tyler Applied sciences Inc. promised in 2015 to finish the tasks inside three to 5 years for $75 million however has confronted software program crashes, botched rollouts, allegations of poor job efficiency and ballooning bills, the Chicago Tribune and Injustice Watch report.
However the firm blamed authorities management adjustments, staffing and poor information.
Because the Tribune and Injustice Watch report: “The county wrote a flawed property revamp contract paying tens of millions of {dollars} upfront and imposed few penalties for nonperformance, data and interviews present. Within the circuit court docket contract, a advisor blamed court docket workers for being uncooperative or untrained. And the Supreme Court docket expanded its contract tenfold amid state auditor criticism over its lack of unbiased oversight.” [Chicago Tribune/Injustice Watch]
Authorities have charged a person with sexually assaulting three separate ladies in Logan Sq. this yr, in addition to two extra ladies in crimes courting again to 2022.
Chakib Mansour Khodja, 36, was arrested at O’Hare Airport and charged within the assaults of all 5 ladies, my colleague David Struett experiences for the Chicago Solar-Instances.
Police stated detectives tied Khodja to the crimes by DNA proof, video surveillance, statements from the victims and survivors, and the identification of the automotive that Khodja used over the course of the three-year investigation. [Chicago Sun-Times]
The offseason exercise program would be the first time the workforce is in the identical constructing with Ben Johnson and his teaching workers, Patrick Finley writes for the Chicago Solar-Instances.
That workers contains defensive coordinator Dennis Allen, the previous Raiders and Saints head coach, who will preach a gentle weight loss program of man protection; operating backs coach Eric Bieniemy, the Tremendous Bowl-winning former Chiefs offensive coordinator and a loud, aggressive voice on the follow area; and extensive receivers coach Antwaan Randle El, a Tremendous Bowl winner and Thornton Township Excessive Faculty legend. [Chicago Sun-Times]
In the meantime, Arlington Heights Mayor-elect Jim Tinaglia hopes to seal Bears stadium deal, and the state of affairs seems to have shifted again in favor of the suburb in latest weeks. [Chicago Sun-Times]
Right here’s what else is going on
- The U.S. Supreme Court docket quickly paused an order to convey again a person mistakenly deported to El Salvador. [CNN]
- U.S. Well being and Human Providers Secretary Robert F. Kennedy Jr. visited the epicenter of the Texas measles outbreak after the demise of a second youngster. [AP]
- Ukraine will ship a workforce to the U.S. subsequent week for talks on a brand new draft mineral deal. [AP]
- An American YouTuber who left a Weight loss program Coke can for a reclusive island tribe was arrested in India. [AP]
Oh, and yet one more factor …
The three-story brick constructing the place the Nationwide Public Housing Museum is opening isn’t solely the final of the 32 buildings that after made up the Jane Addams Houses, Chicago’s first public housing improvement, however it’s additionally a remnant of a time when these buildings have been meant to be human-scaled and homey, WBEZ contributor Dennis Rodkin writes for Reset.
The Jane Addams Houses and the event’s two siblings — the Julia Lathrop Houses at Diversey Parkway and Clybourn Avenue and the Trumbull Park Houses round 106th Road and Yates Ave. — have been all in-built 1937 and offered a mixed 1,030 flats.
You may see pictures of what these developments used to appear like within the hyperlink. [WBEZ]
Inform me one thing good …
With hotter climate slowly approaching, I’m craving lighter meals over the consolation fare the colder months are recognized for. So I’m questioning, what’s your favourite springtime recipe, whether or not it’s a singular salad or one thing else? (Bonus factors if you happen to ship the precise recipe.)
Be at liberty to e-mail me, and your response could also be included within the publication this week.
