Things To Do In SW Florida

By KELVIN CHAN

LONDON (AP) — European Union regulators accused TikTok on Thursday of breaching digital content rules because it’s not being transparent enough about ads shown to users of the video sharing app.

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TikTok’s ad repository isn’t up to the standards required by the bloc’s Digital Services Act, known as the DSA, the 27-nation EU’s executive Commission said in preliminary findings from its investigation.

The Commission said ad databases are vital for researchers to detect scam ads as well as so-called hybrid threat campaigns, coordinated information operations and fake ads, “including in the context of elections.” read more

By ALEX VEIGA, AP Business Writer

The average rate on a 30-year mortgage in the U.S. edged above 6.8% this week, returning to where it was just three weeks ago.

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The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose. The average rate ticked up to 5.92% from 5.89% last week. It’s down from 6.28% a year ago, Freddie Mac said.

Mortgage rates are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations about the economy and inflation. read more

By MICHELLE CHAPMAN, AP Business Writer

Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over U.S. President Donald Trump’s tariffs.

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Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the Foot Locker brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.

“Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases,” Dick’s CEO Lauren Hobart said in a statement. read more

By CHRISTOPHER RUGABER and ANNE D’INNOCENZIO, AP Business Writers

WASHINGTON (AP) — U.S. consumers spent slightly more at retail stores last month after ramping up their shopping in March to get ahead of tariffs.

Sales at retail stores and restaurants rose just 0.1% in April from March, the Commerce Department said Thursday. That is much lower than the previous month’s 1.7% gain, which reflected a surge in car sales as consumers accelerated purchases ahead of President Trump’s 25% duty on auto imports that went into effect this month.

Last month’s tiny increase after the March surge makes it harder to get a clear read on consumer spending trends and reflects the ongoing turmoil and uncertainty in the economy in the wake of Trump’s stop-and-go tariff policies. Many publicly-traded companies have withdrawn or held off on the traditional practice of forecasting their revenues and earnings for the rest of this year because the economic landscape has become so chaotic.

Meanwhile, Americans are increasingly gloomy about the economy’s prospects, according to sentiment surveys, but it’s not yet evident whether that will translate into reduced spending and slower economic growth. read more

For those who’ve been through one, talk of a recession can be triggering. We’re not officially there yet (as of this writing), but it’s natural to be anxious about increased prices due to tariffs and the potential aftermath.

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Nearly 9 in 10 Americans (85%) have concerns about the tariffs, with one of the top worries being the tariffs resulting in a recession (45%), a NerdWallet survey found.

I recall how the Great Recession demolished jobs across the U.S., including mine. After graduating in 2009, I worked four months as an entry-level executive assistant at a nonprofit before being laid off.

I had limited financial knowledge, a short work history and a lot to prove to break into the field of journalism, my ultimate goal. Along the way, I picked up valuable lessons that might help you manage your finances in a shaky economy. read more