Daily business briefing: Illinois $6.1 billion in the red

July 2, 2013 


Illinois ended fiscal 2013 with an estimated $6.1 billion in unpaid bills. The St. Louis Business Journal cites a Reuters report that the state's budget could grow to $7.5 billion by August and to almost $9 billion by the end of the year. Read more at http://www.bizjournals.com/stlouis. ...


The latest housing sales numbers suggest that the market is getting stronger. The latest U.S. home prices jumped 12.2 percent in May from a year ago, the most in seven years. Find out more at http://www.bnd.com/business. ...


General Motors Co. and Honda Motor Co. have partnered to develop hydrogen fuel cell vehicles. The two companies have announced plans to develop fuel cell vehicles by 2020 and also will push for more hydrogen fueling stations. Fuel cell vehicles have motors that are powered by a chemical reaction between hydrogen and oxygen. Learn more at http://www.bnd.com/business. ...


Crain's Chicago Business reports that the Tribune Co. may not be done adding to its media empire. The Chicago company announced Monday it purchased 19 television stations from Local TV Holdings LLC, including KTVI Channel 2 in St. Louis. The deal will nearly double its broadcast reach and rank seventh in revenue among U.S. broadcast companies. For more information, go to http://www.chicagobusiness.com.

-- Will Buss, BND business writer

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