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What you need to know about Florida today
Florida weekly unemployment claims dip
Despite concerns about a possible recession, the number of first-time unemployment claims filed last week in Florida decreased. The U.S. Department of Labor on Thursday estimated 6,511 claims were filed in Florida during the week that ended July 23, down from a revised count of 7,858 during the week that ended July 16. The state has averaged 6,948 claims over the past four weeks. Nationally, 256,000 claims were filed during the week that ended July 23, a decrease of 5,000 from the prior week. [Source: News Service of Florida]
Business Beat - Week of July 29th
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Florida uses Citizens for stopgap measure amid property insurance worries
Amid fears that a financial ratings agency will downgrade numerous property insurance companies, Florida regulators Wednesday announced a stopgap plan to try to make sure homeowners can maintain coverage. The plan involves the state’s Citizens Property Insurance Corp. acting as a financial backstop. Citizens would take on a reinsurance role to help make sure claims get paid if private insurers go insolvent. The arrangement is designed to satisfy Fannie Mae and Freddie Mac, the mortgage industry giants that require homes to be insured by financially sound companies. [Source: Tampa Bay Times]
Monkeypox vaccine distribution ongoing in Central Florida
The World Health Organization has declared the current monkeypox outbreak as a "public health emergency of global concern," and that includes Florida, where monkeypox cases gave been on the rise across the state. Officials with the Department of Health in Orange County say they are staying on top of the issue, and while experts say there is no reason to panic, they also urge people to stay aware of what is going on and be educated about the transmission of the disease. [Source: Spectrum News 13]
Universal theme parks remain moneymakers despite recession fears
Universal’s theme parks are making money and aren’t slowing down as the economy weakens — at least not yet, executives said Thursday. In the latest earnings call for Comcast Corp., Universal theme parks generated $1.8 billion in revenue, a 65% jump from the same quarter last year. What made that number even more impressive was the Beijing park was closed for most of the second quarter from the pandemic. [Source: Florida Politics]
ALSO AROUND FLORIDA:
› ‘Painful’ division of $1 billion Surfside settlement starts: Some to get more than others
With the milestone of a $1 billion settlement behind them, relatives of the 98 people who died in the Surfside condominium building’s collapse have begun private hearings this week with a Miami-Dade judge who will calculate each victim’s monetary value — a process partly guided by actuarial equations but also fraught with painful emotions.
› Amid recession fears, Clearwater’s MarineMax posts biggest revenues ever
Inflation is soaring. Fuel costs are dropping, but still historically high. The Federal Reserve just hiked interest rates for the fourth time this year. And people everywhere are still buying boats. Clearwater boat retailer MarineMax on Thursday announced its biggest quarter of revenue ever, reflecting continued “demand for the boating lifestyle,” CEO Brett McGill said on a call with investors.
› JetBlue, Spirit airlines reach deal
A day after scrapping a planned merger with Frontier Airlines, the Miramar-based Spirit Airlines on Thursday announced a deal with JetBlue. Under the deal, JetBlue will pay $3.8 billion, or $33.50 a share, to buy Spirit. A news release said the deal will create the country’s fifth-largest carrier.
› Florida Gaming Commission warns allowing 'adult arcades' in Jacksonville could be illegal
The Florida Gaming Control Commission is warning that a proposal to legalize "adult arcades" in Jacksonville with casino-style electronic games could run afoul of the state's prohibition on slot machines in Duval County. In a letter to city officials, the gaming commission says if Jacksonville allows the return of the electronic games after shutting them down in 2019, it could conflict with state law that bans slot machines in most of the state.
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