Homes sales hit eight-year high, point to firming economy

New U.S. single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects. Tuesday's report from the Commerce Department, which also showed a surge in new home prices to a record high, offered further evidence of a pick-up in economic growth that could allow the Federal Reserve to raise interest rates soon. Read the full story from Reuters, here. Also see more at the Wall Street Journal and USA Today.

Cuba to legalize small and medium-sized private businesses

Cuba announced Tuesday that it will legalize small- and medium-sized private businesses in a move that could significantly expand private enterprise in one of the world's last communist countries. [Source: AP]

Florida's Space Coast busy with upcoming launches

Commercial space companies have packed the docket on Florida’s Space Coast as United Launch Alliance and SpaceX prepare to make it three rocket launches in a month from Cape Canaveral. [Source: Orlando Sentinel]

See also:
» SpaceX is about to attempt another extremely difficult landing

Why the USDA is putting a new warning label on beef

A new label on some of the steaks in your grocery store highlights a production process you may have never heard of: mechanical tenderizing. This means the beef has been punctured with blades or needles to make it easier to chew. But it also might make you sick. More from Kaiser Health News and the Miami Herald.

Can Puerto Rico escape its $72 billion debt trap and avoid Greece's fate?

Brian Gendreau, director of UF’s Latin American Business Environment program, explains the consequences of Puerto Rico’s failure to pay bondholders and discusses options it could consider to resolve its financial situation. The article begins:

"To almost no one’s surprise, Puerto Rico missed a US$422 million debt payment earlier this month, triggering fears among investors that additional defaults are on the way and increasing pressure on Congress to act..."

» Full story from UF News is here.

» Your turn: What should be done so Puerto Rico can get out of debt?(quick poll)

 

ALSO AROUND FLORIDA:

› Port Canaveral to tighten up ground transportation policy [Florida Today]
Port Canaveral commissioners are poised to approve a new policy on Wednesday aimed at creating consistency in how fees are assessed for businesses transporting people to and from the port.

› Super Bowl returning to South Florida in 2020 [Miami Herald]
Behind the closed doors of a meeting of millionaires and billionaires Tuesday, two men together helped finally bring the Super Bowl back to South Florida.
» See also: Miami in the running to host 2018, 2019 or 2020 WWE WrestleMania

› 11,500 expected to attend Special Ops conference in Tampa [Tampa Bay Times]
A major annual conference that brings together special operations forces commanders and defense industry leaders kicked into high gear this morning at the Tampa Convention Center.

› Sarasota County votes down $720,000 incentive plan [Sarasota Herald-Tribune]
Sarasota County has rejected a plan to offer financial incentives to help lure a national roofing company's headquarters office to the area, citing concerns raised by local contractors and professional associations.

Go to page 2 for more stories ...

› Gulfstream Park to add $2.5 million karaoke venue [South Florida Sun-Sentinel]
The first U.S. location of a Tel Aviv-based karaoke concept is opening soon at Gulfstream Park in Hallandale Beach.

› Expert: Banks must use tech to meet millennials where they are [Orlando Sentinel]
A 2-percentage point drop in the number of millennials using community banks has industry officials looking for ways to reconnect with an entire generation. That means banks have to innovate to meet younger customers where they are, typically on their phones and online.

› Free tech boot camp launches in low-income Miami communities [Miami Herald]
The technology education gap may be closing in Miami with the introduction of a new technology boot camp program aimed at providing training to underserved local communities.

› Direct Energy closing Sarasota office, will lay off 159 [Sarasota Herald-Tribune]
Direct Energy is shutting down its Sarasota operation, eliminating 159 jobs. The home energy services provider is consolidating into its Houston headquarters over the next two years, company officials said Tuesday.