Things To Do In SW Florida

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — A sharp slowdown in hiring poses a growing risk to the U.S. economy, Federal Reserve Chair Jerome Powell said Tuesday, a sign that the Fed will likely cut its key interest rate twice more this year.

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Powell said in written remarks that despite the federal government shutdown cutting off official economic data, “the outlook for employment and inflation does not appear to have changed much since our September meeting,” when the Fed reduced its key rate for the first time this year.

Fed officials at that meeting also forecast that the central bank would reduce its rate twice more this year and once in 2026. Lower rates from the Fed could reduce borrowing costs for mortgages, car loans, and business loans. Powell is speaking before a meeting of the National Association of Business Economics in Philadelphia. read more

By MICHELLE CHAPMAN

General Motors will record a negative impact of $1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the U.S. and rules governing emissions are relaxed.

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Shares fell less than 2% before the opening bell Tuesday.

The EV tax credit ended last month. The clean vehicle tax credit was worth $7,500 for new EVs and up to $4,000 for used ones.

Meanwhile, the Environmental Protection Agency has been working on easing rules aimed at cleaning up auto tailpipe emissions as the Trump administration move to undo incentives for automakers to go electric. President Donald Trump has also challenged federal EV charging infrastructure money and blocked California’s ban of new gas-powered vehicle sales. It adds up to less pressure on automakers to continue evolving their production away from gas-burning vehicles. read more

By MATTHEW BROWN, Associated Press

BILLINGS, Mont. (AP) — Federal officials rejected a company’s bid to acquire 167 million tons of coal on public lands in Montana for less than a penny per ton, in what would have been the biggest U.S. government coal sale in more than a decade.

The failed sale underscores a continued low appetite for coal among utilities that are turning to cheaper natural gas and renewables such as wind and solar to generate electricity. Emissions from burning coal are a leading driver of climate change, which scientists say is raising sea levels and making weather more extreme.

President Donald Trump has made reviving the coal industry a centerpiece of his agenda to increase U.S. energy production. But economists say Trump’s attempts to boost coal are unlikely to reverse its yearslong decline.

The Department of Interior said in a Tuesday statement that last week’s $186,000 bid from the Navajo Transitional Energy Co. (NTEC) did not meet the requirements of the Mineral Leasing Act. read more

By MAE ANDERSON, AP Business Writer

NEW YORK (AP) — Cabinet dealers, interior designers and remodeling contractors in the U.S. hope new tariffs on imported kitchen cabinets, bathroom vanities and upholstered wooden furniture that kicked in Tuesday will create more business for them and eventually boost domestic production of those products.

But several small business owners in the home improvement industry say they expect some short-term pains from the import taxes: Clients with projects already on the books might balk at having to pay more for the budget-priced cabinets they selected. Potential customers may postpone kitchen and bathroom renovations until costs — and the economy — seem more stable.

“I think the volatility around pricing is damaging to the remodeling industry,” said Allison Harlow, an interior designer in Michigan whose company, Curio Design Studio, creates and builds custom bathrooms and kitchens. “Most people will hear the headline of ‘Kitchen cabinets will go up 50%’ and might just opt out of even reaching out to our company.” read more

SpaceX launched its 11th test flight of the powerful Starship and Super Heavy rocket from its Texas site Starbase on Monday as it moved ahead in its goals to achieve an operational rocket that could eventually launch from Florida.

Liftoff of Starship! pic.twitter.com/sbfmGAEPa6

— SpaceX (@SpaceX) October 13, 2025

Liftoff came at 7:23 p.m. EDT with the company managing a repeat of the successful 10th test flight in August, and avoiding the calamities of its explosive test flights earlier in the year.

Clear skies meant the streaking upper stage was visible from Florida creating a jellyfish effect with the setting sun and images posted to social media captured the spacecraft from the Florida Keys to as far north as Daytona Beach.

Starship Flight 11 seen from South Florida. pic.twitter.com/kALUk6WGKp

— Joe.B (@JoeB_Photos) October 13, 2025

It’s the first of two launches for SpaceX on Monday night with a Cape Canaveral mission set for liftoff at 9:58 p.m.

SpaceX founder Elon Musk wandered past the live commentators saying he was going outside to watch for the first time. read more