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Most customers of state-owned Citizens Property Insurance Corp. could see significant rate decreases in 2026, though many of those in Central Florida counties will see increases.

The company is recommending an average 2.6% statewide rate decrease for personal lines accounts beginning on June 1.

Average rates are projected to increase in several Central Florida counties, including Orange, Osceola, Lake and Brevard, even as most South Florida homeowners see larger decreases than average.

During its quarterly meeting on Wednesday, the company’s Board of Governors attributed the statewide decreases to the continued success of reforms enacted in 2022 and 2023, some of which made it tougher for plaintiffs attorneys to collect legal fees from insurers.

Tim Cerio, Citizens president and CEO, said that Citizens needed $500 million less in premiums in 2025 to cover its expenses because of those reforms.

“So you can see where litigation costs drive up rates for Citizens and the private sector,” Cerio said. “You get a handle on litigation, rates come down. This is all because of the reforms championed by the governor.” read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The U.S. stock market rose to the edge of its record on Wednesday after the Federal Reserve cut its main interest rate to bolster the job market, and hopes strengthened for more cuts to come in 2026.

The S&P 500 climbed 0.7% and finished just shy of its all-time high, which was set in October. The Dow Jones Industrial Average jumped 497 points, or 1%, and the Nasdaq composite rose 0.3%.

Wall Street loves lower interest rates because they can boost the economy and send prices for investments higher, even if they potentially make inflation worse.

Wednesday’s cut to interest rates was widely expected and did not move markets much by itself. But some investors found encouragement from comments by Fed Chair Jerome Powell, which they said were less forceful about shutting down the possibility of future cuts than they had been anticipating.

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The Department of Business and Professional Regulation shut down eight Central Florida restaurants for health code violations during the week from Nov. 30 to Dec. 6.

Orange

Loading Zone at 24 E. Washington St. in Orlando shut down on Dec. 2. Inspectors found 15 violations, four of which were high priorities for rodent activity, roach activity, a stop-sale on food not being in wholesome condition and food held at the wrong temperatures. A second inspection occurred on Dec. 3. There were five violations, but none was a high priority. The restaurant remained closed. A third and final inspection occurred the same day. There were four violations. None was a high priority. The restaurant requires a follow-up inspection, but it is not an immediate threat to the public.

Planet Pizza at 14 W. Washington St. in Orlando shut down on Dec. 3. There were four violations. Two were a high priority for rodent activity and food held at the wrong temperatures. A second inspection occurred the next day. There were zero violations and the restaurant met inspection standards. read more

Fresh off the opening of two new stores on Florida’s Space Coast, buzzy boutique grocer Trader Joe’s is now setting its sights on Kissimmee and Maitland for continued expansion.

North American Development Group, the Toronto-based company that owns the Loop West shopping center in Kissimmee, has filed site plans with the city and South Florida Water Management District for a new 12,500-square-foot grocery store on the retail pad north of JCPenney, according to a report in GrowthSpotter.

NADG also owns Tomoka Town Center in Daytona Beach, where it opened a new Trader Joe’s on Nov. 14. The proposed grocery store’s building size and layout match typical Trader Joe’s prototypes, which are less than 15,000 square feet.

Meanwhile, Harbour Retail Partners, which bought Trelago Market in 2020, received preliminary approval this week from the Maitland City Council for a new 12,500-square-foot specialty grocery store with 5,300 square feet of attached, inline retail on Lot 3 of the shopping center. Renderings shown during the meeting used the same signage style and font as Trader Joe’s but with the name “Farmer Jon’s.” read more

SAN FRANCISCO (AP) — OpenAI said Tuesday it has picked Slack CEO Denise Dresser as its first chief of revenue, a message to wary investors that the ChatGPT maker is serious about making a profit from its artificial intelligence technology.

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OpenAI said Dresser will oversee global revenue strategy and “help more businesses put AI to work in their day-to-day operations.”

Dresser had already spent more than a decade at Salesforce when the software pioneer announced in 2020 it was buying work-chatting service Slack for $27.7 billion. She helped integrate Slack into the software company before Salesforce CEO Marc Benioff picked her as CEO in 2023. read more