Thursday's Afternoon Update
What you need to know about Florida today
Foreclosures drop to lowest level since 2005 nationwide, but in Florida they are rising
American lenders last year initiated foreclosures on the fewest number of American homes since 2005, raising hopes that the worst of the last housing crisis might be in the rearview mirror. While overall foreclosure numbers fell nationwide, several states recorded increases, including Florida. More from the Real Deal.
» Southwest Florida foreclosure activity falls to lowest level since 2006
» New foreclosure filings in Tampa Bay plunge 90 percent
» Foreclosure rate drops in South Florida in 2018, but more lawsuits filed
U.S. might allow lawsuits over U.S. properties nationalized in Cuba
The Trump administration appears poised to enact a long-frozen clause within the Cuban Embargo that would allow Americans who had property nationalized in Cuba to sue those now profiting from it. When the clause, called Title III, was made part of the embargo in 1996, it came with the caveat that presidents could suspend it every six months. Presidents since then, both Democrats and Republicans, have done just that. More from the Tampa Bay Times and the Miami Herald.
Orlando's economy is expected to keep growing in 2019 — but some areas will see a slow down
Make no mistake, tourism has and will continue to be a central driving force behind Orlando’s growth, but economists predict the new year will also likely bring further growth in other sectors, too, including construction, professional services, finance, manufacturing and the fields of science, technology, engineering and mathematics. More from the Orlando Sentinel.
FPL plans to add 30 million solar panels in Florida by 2030
Florida Power & Light Co. announced a major solar plan Wednesday, vowing to install more than 30 million solar panels in Florida by 2030. The goal is to make Florida a “world leader in the production of solar energy,” the Juno Beach-based electric utility says. See the announcement from FPL and read more from the South Florida Sun-Sentinel.
CSX delivers quarterly profit in line with Wall Street views
CSX Corp. delivered a fourth-quarter profit of $843 million, which was lower than last year when tax reforms were approved but in line with Wall Street expectations. The Jacksonville, Florida-based railroad said Wednesday it earned $1.01 per share net income in the quarter that ended Dec. 31. More from the AP.
Last year marked 30 years in the banking industry for Jose Cueto, president and CEO of International Finance Bank (IFB Bank), and it was a banner year at that. Mr. Cueto, who assumed his role in May 2015, has in less than four years more than doubled the bank’s assets, from $332.2 million to $692 million, a growth spurt that in October culminated with the $152 million acquisition of Modern Bank, headquartered in New York City.
» More from Miami Today.
Ava Doppelt has been active in mentorship programs for women lawyers, has served as president of the Orlando Ballet and on the boards of the Florida Lawyers Mutual Insurance and the Association to Preserve the Eatonville Community (Zora Neale Hurston Festival).
» Read more from Florida 500.
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