Things To Do In SW Florida

By DEE-ANN DURBIN

Guacamole has been spared from tariffs for now. But salsa may not be so lucky.

Related Articles

• 
  Trump’s meme coin business racks up fees as buyers jump at the chance for access to the president

• 
  What to know about flight delays and cancellations at Newark airport

• 
  OpenAI reverses course and says its nonprofit will continue to control its business

• 
  Warren Buffett’s best and worst investments in his 60 years leading Berkshire Hathaway

• 
  Smart credit card moves to make in a recession

While President Donald Trump put threatened tariffs on Mexican avocados on pause, the U.S. government plans to put a nearly 21% duty on fresh Mexican tomatoes starting July 14. A duty — like a tariff — is a tax on imports, and this one would impact the 4 billion pounds of tomatoes the U.S. imports from Mexico each year.

Proponents say the import tax will help rebuild the shrinking U.S. tomato industry and ensure the produce eaten in the U.S. is also grown there. Mexico currently supplies around 70% of U.S. tomato market, up from 30% two decades ago, according to the Florida Tomato Exchange. read more

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stocks slipped in afternoon trading on Wall Street Monday and oil prices fell to a four-year low as the OPEC+ group announced plans to increase output.

Related Articles

• 
  Trump’s meme coin business racks up fees as buyers jump at the chance for access to the president

• 
  What to know about flight delays and cancellations at Newark airport

• 
  OpenAI reverses course and says its nonprofit will continue to control its business

• 
  Warren Buffett’s best and worst investments in his 60 years leading Berkshire Hathaway

• 
  Smart credit card moves to make in a recession

The S&P 500 fell 0.3%. The benchmark index is coming off of its ninth straight gain.

The Dow Jones Industrial Average rose 110 points, or 0.3%, as of 12:13 p.m. Eastern time. The Nasdaq composite fell 0.5%.

There were more gainers than losers within the S&P 500 index, but the market was weighed down by losses in technology stocks and other big companies. Apple slumped 3%, while chipmaker Nvidia fell 0.7%. Tesla fell 3.8%. read more

By BERNARD CONDON AND JOSH FUNK, AP Business Writers

OMAHA, Neb. (AP) — Billionaire Warren Buffett will remain chairman of the board at Berkshire Hathaway when vice chairman Greg Abel takes over for Buffett as CEO at the start of 2026.

The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about maintaining Berkshire’s remarkable winning streak as U.S. and global economies are beset by tariff shocks, financial turmoil and a growing risk of recession.

The board in the same meeting also approved Buffett’s chosen successor as CEO, veteran Berkshire executive Greg Abel, 62. In a surprise announcement Saturday, Buffett said he would step down from that top spot at the end of the year.

Berkshire Class B shares fell 4% Monday morning after hitting an all-time high Friday.

Macrae Sykes, portfolio manager at Gabelli Funds, praised the company’s transparency after Buffett announced the succession and does not believe Buffett is going anywhere. read more

By MATT OTT, AP Business Writer

The shoe company Skechers is being acquired for more than $9 billion to be taken private by the investment firm by 3G Capital.

Related Articles

• 
  Trump’s meme coin business racks up fees as buyers jump at the chance for access to the president

• 
  What to know about flight delays and cancellations at Newark airport

• 
  OpenAI reverses course and says its nonprofit will continue to control its business

• 
  Warren Buffett’s best and worst investments in his 60 years leading Berkshire Hathaway

• 
  Smart credit card moves to make in a recession

The deal comes amid growing uncertainty over how U.S. President Donald Trump’s tariffs on foreign goods will affect companies who make their products overseas, particularly in China. Athletic shoe makers have invested heavily in production in Asia.

The offer of $63 per share represents a premium of 30% to Skechers’ 15-day volume-weighted average stock price. The deal was unanimously approved by Skechers’ board. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs.

After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed Chair Jerome Powell, Trump subsequently backed off and said he had no intention of doing so. Still, he and Treasury Secretary Scott Bessent have said the Fed should cut rates.

They argue that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases. The Fed sharply ramped up its short-term rate in 2022 and 2023 as pandemic-era inflation spiked.

Separately, Elon Musk, the head of Trump’s Department of Government Efficiency, last Wednesday suggested that DOGE should look more closely at the Fed’s spending on its facilities.

The heightened scrutiny shows that even as the Trump administration backs off its threats to fire Powell, the Fed is still subject to unusually sharp political pressures, despite its status as an independent agency. read more