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Brightline tells bondholders it will be late on interest payment

Brightline tells bondholders it will be late on interest payment

Brightline, the high-speed railroad that runs between South and Central Florida, will be late with a scheduled July 15 interest payment to investors who hold tax-exempt bonds that were issued last year, the company confirmed Friday.

The unrated bonds, which command 10% and 12% interest rates, were sold through the Florida Development Finance Corp., which reportedly is about to consider another $400 million borrowing for Brightline to expand to Tampa from Orlando.

Bloomberg was the first to report the decision to delay the interest payout.

The deferral does not constitute a default, an event that would occur if the rail line missed three interest payments in a row, according to bond documents.

In a statement forwarded to the South Florida Sun Sentinel after the close of business Friday, the railroad acknowledged the decision to delay the payment, and said it was allowed under the terms of the bond issue. But the delay will come at a cost.

“As a result, annual interest due will increase by a step-up rate of 2.00%,” the statement said. “Following July 15, 2025, we intend to make the deferred interest payment with operating cash flow or proceeds from equity and debt financings that we are actively pursuing.” read more

Ghost factories are a warning sign for green manufacturing’s future

Ghost factories are a warning sign for green manufacturing’s future

By Saijel Kishan, Bloomberg News

The vast tract of land off Route 85 was meant to be a symbol of Made-in-America manufacturing. A billion-dollar battery factory was going to rise, bringing thousands of new jobs. The business announced, “Get Ready Arizona,” the governor said the state was thrilled and even the U.S. president gave the project a shoutout.

But here, in the boomtown of Buckeye, less than an hour away from Phoenix, the 214-acre lot sits empty. Work on the site had started, said Shelby Lizarraga, who manages the gas station next door, “but then it went all quiet.”

Four years after the fanfare, battery maker Kore Power Inc. abandoned its plans for a plant in Buckeye. The company’s chief executive officer stepped down and a promised $850 million federal loan was cancelled.

Kore isn’t alone in its dashed ambitions. In Massachusetts, a wind turbine cable factory set to be built on the site of a former coal power plant was scrapped. In Georgia, the construction of a facility that would have made parts for electric vehicle batteries was suspended more than halfway through. And in Colorado, a lithium-ion battery maker said it wouldn’t go forward with its factory there, at least for now. read more

Space Coast’s 60th launch of year also Falcon 9’s 500th successful SpaceX mission

Space Coast’s 60th launch of year also Falcon 9’s 500th successful SpaceX mission

An early Sunday morning SpaceX launch marked the 60th orbital mission from the Space Coast from all companies for the year, but also the 500th successful mission for the workhorse Falcon 9 rocket.

The rocket lifted off from Cape Canaveral Space Force Station’s Space Launch Complex 40 at 1:04 a.m. carrying an Israeli communications satellite on the Commercial GTO 1 mission.

The first-stage booster flew for the 13th time and made a recovery landing downrange on the droneship Just Read the Instructions.

It was the 502nd launch of a Falcon 9 since its debut in 2010, with the company only losing the rocket on two missions — once in 2015 and then in July 2024. The company has also flown its larger Falcon Heavy 11 times since 2018, but not yet so far in 2025.

SpaceX has launched all but three of the Space Coast missions in 2025 with Blue Origin’s New Glenn making its debut flight in January and United Launch Alliance having flown two Atlas V rockets on missions for Amazon’s Project Kuiper in April and June. read more

The 5 best vehicles for campers, according to Edmunds

The 5 best vehicles for campers, according to Edmunds

By DAN FRIO, Edmunds

Summer days beckon and with them the prospect of campfires, fishing holes and scenic hikes. When it’s time to commune with nature, you need a car that can get you there and offer convenience and utility once you’ve arrived. Whether you’re looking to get far off the beaten path or simply enjoy the outdoors with some comforts of home, we’ve rounded up five of the best vehicles for the occasion.

Ford F-150

This photo provided by Ford shows the F-150 pickup, which offers an in-bed power supply for household items. (Courtesy of Ford Motor Co. via AP)
This photo provided by Ford shows the F-150 pickup, which offers an in-bed power supply for household items. (Courtesy of Ford Motor Co. via AP)

Before SUVs, pickup trucks were the ultimate camp car. Put a shell over the cargo bed, lay out a foam roll and sleeping bag and voila — instant shelter. The Ford F-150 is not only America’s best-selling truck, but it also makes an ideal camper. Optional four-wheel drive helps get to remote sites, but the camp-friendly Pro Power Onboard is the star feature. It’s an integrated system that delivers power ranging from 2,000 to 7,200 watts to household-style outlets in the cab and bed. That’s enough to run portable speakers, electric grills and movie projectors, or even recharge electric dirt bikes. The all-electric F-150 Lightning generates even more power — up to 9,600 watts — and features 11 outlets. You’ll need the F-150’s optional hybrid V6 engine in XLT trim or higher to get Pro Power Onboard. We’ve found the fuel economy slightly disappointing in our own F-150 equipped with Pro Power Onboard, but have used the innovative system while camping to run the heat overnight and even power hedge trimmers for yard work. read more

The EU is delaying retaliatory tariffs on US goods in hopes of reaching a deal by Aug. 1

The EU is delaying retaliatory tariffs on US goods in hopes of reaching a deal by Aug. 1

BRUSSELS (AP) — The European Union will suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month.

″This is now the time for negotiations,″ European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after President Donald Trump sent a letter announcing new tariffs of 30% on goods from the EU and Mexico starting Aug. 1.

The EU — America’s biggest trading partner and the world’s largest trading bloc — had been scheduled to impose ″countermeasures″ starting Monday at midnight Brussels time (6 p.m. EDT; 22:00 GMT). The EU negotiates trade deals on behalf of its 27 member countries.

Von der Leyen said those countermeasures would be delayed until Aug. 1, and that Trump’s letter shows ″that we have until the first of August″ to negotiate.

″We have always been clear that we prefer a negotiated solution,″ she said. If they can’t reach a deal, she said that ″we will continue to prepare countermeasures so we are fully prepared.″ read more