Things To Do In SW Florida

By WYATTE GRANTHAM-PHILIPS, AP Business Writer

NEW YORK (AP) — Just five months after emerging from Chapter 11 bankruptcy protection, Spirit Airlines is warning about its future ability to stay in business.

Spirit Aviation Holdings, the budget carrier’s parent company, says it has “substantial doubt” about its ability to continue as a going concern over the next year — which is accounting-speak for running out of money. In a quarterly report issued Monday, Spirit pointed to “adverse market conditions” that it’s continued to face after a recent restructuring and other efforts to revive its business.

That includes weak demand for domestic leisure travel, which Spirit said persisted in the second quarter of its fiscal year — among other challenges and “uncertainties in its business operations” that the Florida company expects to continue “for at least the remainder of 2025.”

Spirit’s shares tumbled nearly 40% by midday Tuesday, with the company’s stock trading at just over $2.20 as of around 1 p.m. ET. read more

By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — The U.S. stock market is flirting with its records on Tuesday after data suggested inflation across the country was a touch better last month than economists expected.

The S&P 500 rose 0.6% and was on track to top its all-time high set two weeks ago. The Dow Jones Industrial Average was up 434 points, or 1%, as of 10:15 a.m. Eastern time, while the Nasdaq composite was 0.5% higher and also heading toward a record.

Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September.

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By LEANNE ITALIE

NEW YORK (AP) — Debra Taylor has had a busy year or so: She’s going through a divorce while in the process of retiring — and she’s moving to Portugal from Southern California with one of her daughters.

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After deciding her next home would be outside the U.S., she narrowed down her choices based on tax burdens (Spain was out with its wealth taxes), climate (no Costa Rica, too hot) and ease of travel within Europe, one of her favorite parts of the world. She then toured Portugal with a relocation company, Expatsi, and found her new home, Aveiro. It’s a striking city on the country’s west coast with lovely canals that earned it the nickname the Venice of Portugal. read more

By MICHELLE CHAPMAN, Associated Press Business Writer

The more than 130-year-old Eastman Kodak Co. is cautioning that there’s “substantial doubt” about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations.

Shares of the photography company slid more than 13% in early trading Tuesday.

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“Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,” the company wrote in a regulatory filing. “These conditions raise substantial doubt about Kodak’s ability to continue as a going concern.” read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago.

Consumer prices rose 2.7% in July from a year earlier, the Labor Department said Tuesday, the same as the previous month and up from a post-pandemic low of 2.3% in April. Excluding the volatile food and energy categories, core prices rose 3.1%, up from 2.9% in June. Both figures are above the Federal Reserve’s 2% target.

The new numbers suggest that slowing rent increases and cheaper gas are offsetting some impacts of President Donald Trump’s sweeping tariffs. Many businesses are also likely still absorbing much of the cost of the duties. Tuesday’s figures probably reflect some impact from the 10% universal tariff Trump imposed in April, as well as higher duties on countries such as China and Canada.

Brian Bethune, an economist at Boston College, said that overall U.S. tariffs — calculated as the amount of duties paid by U.S. companies divided by overall imports — has reached 10%, the highest in decades, and will likely keep rising for months. read more