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Tag: chicago

  • Citi Unveils New Chicago Desk to Bolster Support for Korean Corporates in the US Market

    Citi Unveils New Chicago Desk to Bolster Support for Korean Corporates in the US Market

    Citi, the American multinational investment bank, is set to enhance its service to Korean corporate clientele with the inauguration of a new desk in Chicago.

    Expanding Coverage of Korean Corporates

    The newly launched Korea desk in Chicago is part of Citi’s strategic plan to augment its local financial support for Korean corporate clients who are penetrating the North American market. This addition builds upon Citi’s existing US coverage of Korean corporations, which was initiated in New York in 1993.

    Currently, Citi operates Korea desks around the world, including in London, Prague, Dubai, Singapore, Warsaw, Chennai, Hong Kong, Atlanta, and Monterrey.

    Growth of Korean Corporates in North America

    Citi reports that Korean corporates are quickly spreading their influence across North America, spanning a broad range of industries such as manufacturing, power, semiconductors, and services. The expansion into the United States extends beyond specific regions as businesses set up production and sales bases throughout the country, making their operations progressively widespread.

    Kyoungho Kim, the head of the corporate banking group at Citi Korea, noted the bank’s history of aiding Korean corporates. He highlighted how Citi Korea has been instrumental in bridging the financial operations of these clients’ headquarters in Korea with their overseas subsidiaries through its Korea Desks in key global markets.

    Enhanced Support for Korean Corporates in the Midwest

    The Chicago Korea Desk’s introduction marks a step forward in extending this crucial service in North America. It aims to provide ample support for Korean corporates operating in the US Midwest, guiding them through their funding and financial transactions in alignment with the local financial environment.

    Questions & Answers

    What is the purpose of the new Korea desk in Chicago launched by Citi?

    The Korea desk in Chicago is intended to expand Citi’s local financial support for Korean corporate clients penetrating the North American market.

    What industries are Korean corporate clients involved in?

    Korean corporate clients are involved in a wide range of industries, including manufacturing, power, semiconductors, and services.

    What are Citi Korea’s efforts in supporting Korean corporate clients?

    Citi Korea has been pivotal in connecting the financial operations of Korean corporates’ headquarters with their overseas subsidiaries, providing consistent financial support in key global markets.

  • Indian jeweller makes Chicago debut

    Indian jeweller makes Chicago debut

    Tata Group’s jewellery brand Tanishq has increased its presence in Chicago by opening a store at 4300 East New York Street.

    The Chicago store will feature a specialised and exclusive workwear selection targeting the different demands of women on professional and casual occasions.

    Additionally, collections including Tales of Mystique and Rhythms of Rain feature worldwide and contemporary jewellery influenced by the cultural riches of Jodhpur, Rajasthan, and Kerala.

    “Having already captured the imagination of the discerning consumer in New Jersey and Texas, Tanishq is excited to be entering another iconic American city with a diverse customer base who can now enjoy our unrivaled offering right at their doorstep,” said Kuruvilla Markose, CEO of Titan International Business.

    “Our stunning Chicago store plays a pivotal role in Tanishq’s global expansion, aiming to cater not only to the Indian diaspora but also to the broader American and international communities residing in the city, with an unrivalled offering of more than 2000 unique designs.”

    Tanishq, which had previously established a presence in New Jersey and Texas, now has 420 outlets in India and is expanding internationally into Dubai, the UAE, Qatar, Singapore, and the US.

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  • Chicago Approves Traffic Congestion Tax On Ride-Hailing Services

    Chicago Approves Traffic Congestion Tax On Ride-Hailing Services

    A proposal to combat traffic congestion in Chicago by increasing taxes on certain ride-hailing trips won city council approval on Tuesday as the city and ride providers accused each other of penalizing low-income passengers.

    Mayor Lori Lightfoot’s plan increases the city’s tax on single-passenger trips and lowers the tax on shared rides while imposing new surcharges on weekday rides in the downtown area to raise $40 million for the fiscal year that begins Jan. 1.

    Ride-hailing companies Uber Technologies Inc and Lyft Inc claimed the move would largely hurt low-income residents.

    Earlier this month, the city’s first female African-American mayor accused Uber of trying to resist any kind of regulation by stirring up racial tensions.

    Uber rejected her claims and said alternative proposals it offered would spare lower-income communities in Chicago’s South and West sides from higher costs while raising more money for the city’s budget.

    Reuters’ analysis of data that ride-sharing companies are required to disclose to Chicago shows fares for shared rides in the city have risen significantly over the past year, while fares for single riders have remained stable.

    The price increases for shared rides predominantly affect Chicago’s low-income neighborhoods where most of carpool rides are booked, the analysis showed. Over this period of increased fares, carpool ridership fell.

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  • Starbucks Chicago opens today

    Starbucks Chicago opens today

    Global coffee chain Starbucks today unveils a giant 35,000sqft Reserve Roastery outlet in Chicago, its largest store in the world to date.

    The five-story Starbucks Chicago store features a unique menu of Starbucks Reserve specialty coffee, boutique Milanese Princi bakery items, and an Arriviamo Bar featuring coffee cocktails Tributes to Chicago abound, including locally inspired craft cocktails, barrel aged coffee and collaborations with local artists and vendors.

    The Starbucks Chicago Reserve Roastery marks the brand’s sixth global Roastery and third in the US. Visitors will be able to see, hear and learn about the journey of coffee through intentional design, while enjoying a menu featuring unique beverages exclusive to this location. The Chicago Roastery joins locations in Seattle, Shanghai, Milan, New York and Tokyo.

    “Over the past five years, we have created the ultimate immersive experience around all-things-coffee in spectacular Starbucks Reserve Roasteries in flagship cities around the world,” said Starbucks CEO Kevin Johnson. “This week we are delighted to open our doors on the sixth global Roastery in an iconic building located on Chicago’s renowned Magnificent Mile.

    “These Roasteries amplify the Starbucks brand, serve as innovation hubs, and create experiences for millions of customers around the world.”

    “The design of the Chicago Roastery was inspired by the iconic Chicago landmark, and the city itself,” said Roastery design & concept for Starbucks VP Jill Enomoto. “We embraced the building’s natural light, married it with shades of classic Starbucks greens and intentionally wove in design features to encourage customer exploration and highlight the love and respect we have for coffee.”

    The Starbucks Chicago Reserve Roastery is a working coffee roastery where Starbucks roasters will be small-batch roasting Starbucks’ rarest single-origin coffees and blends called Starbucks Reserve. The coffee roasted in Chicago will be served exclusively to visitors of the location, available in handcrafted beverages as well as freshly scooped whole bean coffee.

    In a nod to the city’s vibrant history, artwork from local Chicago artists that tell stories and encourage customers to explore can be found throughout the building’s five floors. Customers can also purchase limited-edition merchandise from Chicago-based visual artist Mac Blackout to take home with them.

    There are three coffee bars at the Roastery, which in total offer seven brewing methods, including espresso, pour over, coffee press, siphon, Chemex, Clover and cold brewing:

    Starbucks Reserve Coffee Bar: Upon entering the Roastery, visitors can visit the Reserve coffee bar on the main level, where baristas are crafting classic espresso beverages such as cappuccino, latte and cortado.

    Experiential Coffee Bar: The third floor is home to the Experiential coffee bar which provides customers the opportunity to immerse in the art, science, and theatre of coffee.  It features elevated brew methods and pairings, as well as specialty Roastery creations and brew comparison flights.

    Barrel-Aged Coffee Bar: The barrel-aged coffee bar is found on the fourth floor and showcases a variety of spirit-free coffee beverages whose beans aged in barrels. Here, visitors can explore a menu of cocktail-inspired coffee creations exclusive to the Chicago Roastery, including the Smoked Cold Fashioned (a lightly sweetened whiskey barrel-aged cold brew with aromatic bitters, smoked tableside), Minted Cold Brew (whiskey barrel-aged cold brew, shaken with mint syrup and served over pebble ice) and more.

    On-demand nitrogen gelato

    The Starbucks Chicago Reserve Roastery is the only Starbucks location in the US to offer on-demand liquid nitrogen gelato. Designed to pair with Starbucks Reserve coffee, nitrogen gelato is mixed by hand, with every scoop made on the spot. Nitrogen gelato previously debuted at the Milan Roastery when it opened in September last year.

    Arriviamo cocktail bar

    The Chicago Roastery will feature a dedicated Arriviamo Bar, like the Starbucks Reserve Roastery locations in New York and Milan. Located on the fourth floor, the Arriviamo bar features traditional and unique cocktails, all designed by local mixologists Julia Momose, Annie Beebe-Tron and Rachel Miller. Some of the cocktails feature coffee and tea.

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  • NTT Com launches lowest latency Tokyo-Chicago link

    NTT Com launches lowest latency Tokyo-Chicago link

    Japan’s NTT Com has launched a new ultra-low latency connectivity service between the financial markets of Tokyo in Japan and Chicago in the United States.

    The operator said the JPX-Chicago Co-Location Direct service offers the industry’s lowest latency for connectivity between Japan Exchange Group’s (JPX) colocation centre and the Cermak data center used by Chicago’s financial market.

    A point of presence in the JPX colocation center links directly to NTT Com’s PC-1 subsea cable to support high frequency trading between the two markets.

    Customers will be able to seamlessly use cross connections in both centres to ensure trades are implemented as quickly as possible.

    NTT Com also delivers connectivity services between JPX and financial markets in Hong Kong and Singapore.

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