Things To Do In SW Florida

By ANNE D’INNOCENZIO, Associated Press Retail Writer

NEW YORK (AP) — Estee Lauder may trim as many as 7,000 jobs by fiscal 2026, more than 11% of its workforce, after the global beauty cosmetics maker lost money in its most recent quarter as reported a 6% sales slump.

The New York company behind such brands as MAC, La Mer and Aveda tempered its profit outlook as the economies of China and Korea slow, in addition to global geopolitical uncertainty.

China announced retaliatory tariffs on some American imports and an antitrust investigation into Google on Tuesday, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect.

Estee Lauder expects to book restructuring and other charges related to the job cuts of between $1.2 billion and $1.6 billion, before taxes.

As of June 30, 2024, Estee Lauder had roughly 62,000 employees worldwide, according to the company’s latest annual filing.

“We are significantly transforming our operating model to be leaner, faster, and more agile,” said CEO Stéphane de La Faverie, who became the company’s top executive last month. read more

Marcus Jordan, son of NBA legend Michael Jordan and a former University of Central Florida basketball player, was arrested in Maitland early Tuesday morning on a charge of cocaine possession after his car was found stuck on railroad tracks minutes before a train was expected, according to police.

A train was scheduled to come through in about 10 minutes when police at 1:14 a.m. noticed a blue Lamborghini SUV with a damaged front bumper parked on the tracks, according to an arrest affidavit. Jordan, 34, was found inside appearing to have tried driving over the dirt and rocks to cross via Oak Avenue near Mechanic Street.

Jordan told police he was coming from Rachel’s North Men’s Club and Steakhouse in Casselberry and the affidavit notes he had fled a traffic stop by the Seminole County Sheriff’s Office moments before he was found. Police said they smelled alcohol on his breath and initially arrested him for driving under the influence.

According to the affidavit, they found a baggie in Jordan’s front pants pocket with a powder that tested presumptive positive for cocaine. He was later taken to a DUI center near the jail where he refused to provide blood samples and was issued a citation. read more

By PAUL WISEMAN, AP Economics Writer

U.S. job openings fell in December, a sign that the labor market is cooling but still healthy.

Openings fell to 7.6 million, from 8.2 million in November, the Labor Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 when the economy was rebounding from COVID-19 lockdowns. The openings fell short of the 7.9 million that economists had expected.

The number of layoffs fell, suggesting that Americans enjoy unusual job security. The number of people quitting their jobs rose modestly but stayed below pre-pandemic levels. After surging in 2021 and 2022, quits have come down as workers lose confidence in their ability to find better pay or working conditions elsewhere.

The Labor Department’s Job Openings and Labor Turnover Summary (JOLTS) showed professional and businesses services companies – a broad category that includes managers and technical workers — scaled back their job postings. Openings also fell in healthcare and social assistance and finance and insurance but ticked higher in arts, entertainment and recreation. read more

By MICHAEL LIEDTKE

SAN FRANCISCO (AP) — Google went to appeals court Monday in an attempt to convince a three-judge panel to overturn a jury’s verdict declaring its app store for Android smartphones as an illegal monopoly and block the penalties imposed by a federal judge to stop the misbehavior. Video game maker Epic Games, which brought the case alleging Google’s Play Store has been abusing its stranglehold over the Android app market, countered with arguments outlining why both the verdict and punishment should be affirmed to foster more innovation and lower prices.

By René Bennett, Bankrate.com

When inflation is high, consumers can feel the impact everywhere, from the supermarket to the gas station. Inflation makes it more expensive to buy basic essentials on your grocery list, afford rent, pay utility bills and, well, live.

While we wait for inflation to reach the 2% rate targeted by the Federal Reserve, you can take steps to protect your savings — and your financial health overall.

How to protect savings from inflation

1. Budget for savings first

If you’re making a comfortable salary but notice that you run out of money for savings before you’ve even realized it, it might serve you to plan ahead. Figure out how much you can comfortably save from each paycheck — then put that amount into savings from the outset.