Things To Do In SW Florida

By TERRY TANG and LINLEY SANDERS, Associated Press

WASHINGTON (AP) — Anxiety about costs and affordability is particularly high among Asian Americans, Pacific Islanders and Native Hawaiians, even at a moment when economic stress is widespread, according to a new poll.

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  US applications for jobless benefits inch up last week to a still-low 200,000

About half of Asian American and Pacific Islander adults said they wanted the government to prioritize addressing the high cost of living and inflation, according to the survey from AAPI Data and The Associated Press-NORC Center for Public Affairs Research, which was conducted in early December. In comparison, a December AP-NORC poll found that about one-third of U.S. adults overall rated inflation and financial worries as the most pressing problems. read more

Property insurance companies would face increased scrutiny by state regulators over payments they make to parent and affiliate companies — which critics say can be used to cloud profits and justify rate increases — under a bill unanimously supported by a House insurance committee.

Supporters say the measure, if enacted by the full Legislature, will save policyholders money by preventing insurers from paying excessive fees.

The bill, sponsored by Pinellas County Republican Kimberly Berfield, addresses findings and recommendations in a study that surfaced last year and was later investigated by the House Insurance and Banking Subcommittee.

The study, by Risk & Regulatory Consulting LLC, covered three years — 2017 to 2019 — after hurricanes Irma and Michael, when many insurers sought rate increases by claiming they lost money on claims and litigation.

It found that during that period, 19 insurers based in Florida or surrounding regions funneled billions of dollars in fees to holding companies and other affiliates that were not “fair and reasonable,” as defined by various industry rules. The insurers were not identified in the study. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge ticked up in November in the latest sign that prices remain stubbornly elevated, while consumers spent at a healthy pace.

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  Average US long-term mortgage rate edges higher, but still near lowest point in more than 3 years

• 
  Inflation fears are high. A new poll shows one group is particularly worried

• 
  Proposal to require state oversight of insurance affiliate payments clears first hurdle in Legislature

• 
  4 in 5 small businesses had cyberattacks last year and almost half of those were AI powered

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  US applications for jobless benefits inch up last week to a still-low 200,000

Consumer prices rose 2.8% in November from a year earlier, the Commerce Department said Thursday, up from a 2.7% annual pace in October. Excluding the volatile food and energy categories, core prices also increased 2.8% in November from a year ago, slightly higher than October’s 2.7%. read more

One more reason things cost more today: cybercrime.

A survey by the Identity Theft Resource Center, a San Diego-based education and victim resource nonprofit, found that 38% of small businesses hit by a cyberscam or breach in the previous 12 months passed those losses to customers by raising prices.

Another key finding: Cybercrime against small businesses is increasingly fueled by artificial intelligence.

“The era of predictable, human-scale threats has been superseded by a new reality of automated, intelligent and massively scalable attacks powered by AI,” said the report, which discusses trends in threats, prevention and attacks. It also gives detailed recommendations about network and application security, data protection and employee and contractor practices. (The survey reached out to more than 650 companies across more than 12 industries in August.)

Eva Velasquez, the CEO of the Identity Theft Resource Center, said the results offer a stark reminder that hackers aren’t picky. They will grab data and money from anyone, including large and small businesses, and individuals. read more

By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — The number of Americans who applied for unemployment benefits inched up last week but U.S. layoffs remain historically low despite signs of a softening labor market.

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  Average US long-term mortgage rate edges higher, but still near lowest point in more than 3 years

• 
  Inflation fears are high. A new poll shows one group is particularly worried

• 
  Proposal to require state oversight of insurance affiliate payments clears first hurdle in Legislature

• 
  Prices ticked up in November as Americans keep spending a key inflation measure shows

• 
  4 in 5 small businesses had cyberattacks last year and almost half of those were AI powered

U.S. filings for jobless aid for the week ending Jan. 17 rose by 1,000 to 200,000, up from 199,000 the previous week, the Labor Department reported Thursday. That’s fewer than the 207,000 new applications that analysts surveyed by the data firm FactSet were expecting. read more