Things To Do In SW Florida

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street is holding near its record heights on Monday, ahead of a week likely to be dominated by updates from the head of the Federal Reserve and from some of the biggest U.S. retailers.

The S&P 500 slipped 0.1%, coming off its first loss after setting an all-time high in three consecutive days. The Dow Jones Industrial Average was up 27 points, or 0.1%, as of 10:45 a.m. Eastern time, and the Nasdaq composite dipped 0.2%.

Novo Nordisk’s stock that trades in the United States rose 4.8% after the Danish company said U.S. regulators approved its Wegovy drug as part of a treatment for a liver disease found in many overweight and obese people.

Soho House, a membership club with locations around the world, jumped 15.5% after announcing a deal where an investor group led by hotel-operator MCR would pay $9 in cash for its shares.

Several of the country’s largest retailers, meanwhile, were mixed ahead of their profit reports that are scheduled for later in the week. Home Depot, which will report on Tuesday, slipped 1%. read more

The Florida-bound Star Princess, the second ship in Princess Cruises’ largest class of ships, completed its sea trials before its planned debut this fall.

The sister ship to 2024’s Sun Princess will begin sailing in October in the Mediterranean but then reposition to sail from Port Everglades to begin seven-night Caribbean sailings in November.

It was put through its paces in the Adriatic Sea having sailed out of the Fincantieri shipyards in Monfalcone, Italy where it has been under construction since September 2024.

“We confidently led Star Princess through sea trials,” said Capt. Gennaro Arma, a 27-year veteran with Princess Cruises who leads the Sphere-class newbuild site team. “As the proud leader of our newest vessel, I’m extremely impressed with the ship’s navigation capabilities and maneuverability. With the final countdown underway, my incredible teammates and I can’t wait to welcome guests aboard for unforgettable adventures this fall.”

The sea trials from Aug. 9-12 checked out the ship’s seaworthiness including steering, navigation systems and propulsion. read more

GENEVA (AP) — Swiss watchmaker Swatch apologized Monday for an ad campaign that upset consumers in China and elsewhere and said it had “immediately removed all related materials worldwide.”

In an image for the Swatch Essentials collection, an Asian male model is shown pulling the edges of his eyelids upward and backward with his fingers — a gesture seen as derogatory and racist, Swiss public broadcaster SRF reported.

Swatch wrote on Instagram that “we sincerely apologize for any distress or misunderstanding this may have caused.” It said it would “treat this matter with the utmost importance.”

SRF reported that the apology was also posted on the Chinese social network Weibo in Chinese and English.

A much-anticipated affordable housing project in downtown Orlando has been mostly stalled for six years after the community land trust leading the effort ran into financial trouble.

Now nonprofit developer Lift Orlando may step in to complete the 30-townhome project in the West Lakes neighborhood that Hannibal Square Community Land Trust could not, according to a report in GrowthSpotter. 

The partially-constructed townhomes are currently a neighborhood eyesore, with rotting wood framing and trash on the ground.

Sandy Hostetter, Lift Orlando’s VP of Asset Development, said the nonprofit has had discussions with the City of Orlando and the lender that foreclosed on the Winter Park-based land trust.

“We’ve been working on this for almost a year now, and our hope is still within the next 60-90 days to make an offer on this parcel,” Hostetter said, adding this development “matters more to me than any development we’re doing.”

Lift Orlando was one of six developers that bid on the city-owned property along Orange Center Boulevard, across from Lift’s Pendana at West Lakes mixed-income community. At the time, the city narrowed the selection to two organizations, Lift and Hannibal Square Community Land Trust. Both proposed building owner-occupied townhomes along the narrow strip of property. read more

In addition to a monthly newsletter covering retirement planning regulations, IRA advisers Ed Slott and Co. also offer an excellent monthly newsletter covering Social Security issues, written by Heather Schreiber.

In the August newsletter, Schreiber covered regulations that relate to limits of Social Security benefits when beneficiaries continue to work prior to reaching their full retirement age (FRA). She includes information from Don Graves, president of the Housing Wealth Institute. He discusses unwelcome results if Social Security beneficiaries who receive benefits from Supplemental Security Income (SSI) or Medicaid don’t follow associated rules.

Earnings tests

Social Security regulations use a two-tiered system for an annual earnings test (AET). There is one limit for individuals who have not reached FRA for the entire year, and there is a higher limit in the year an individual reaches FRA, which applies only up to the month before FRA. In the first tier, there is a yearly limit of $23,400. If an individual earns either wages or self-employed income exceeding that limit, Social Security reduces Social Security benefit by $1 for every $2 earned above $23,400. In the year a worker reaches his FRA, the limit changes to $62,160. The penalty is $1 for every $3 above $62,160. After an employee reaches his/her FRA, there is no longer a penalty. read more