Things To Do In SW Florida

By MATTHEW BROWN and MATTHEW DALY

WASHINGTON (AP) — Oil companies offered $300 million for drilling rights in the Gulf of Mexico on Wednesday in the first of 30 sales planned for the region under Republican efforts to ramp up U.S. fossil fuel production.

Related Articles

• 
  New York Times, after Trump post, says it won’t be deterred from writing about his health

• 
  Scores of government statisticians are gone, leaving data at risk, report says

• 
  FDA investigating possible adult deaths from COVID vaccines

• 
  Trump’s ‘gold card’ program goes live, offering US visas starting at $1 million per person

• 
  Trump administration adds militarized zone in California along southern US border

The sale came after President Donald Trump’s administration recently announced plans to allow new drilling off Florida and California for the first time in decades. That’s drawn pushback, including from Republicans worried about impacts to tourism.

Wednesday’s sale was mandated by the sweeping tax-and-spending bill approved by Republicans over the summer. Under that legislation, companies will pay a 12.5% royalty on oil produced from the leases. That’s the lowest royalty level for deep-water drilling since 2007. read more

Brian Bacica has been appointed president of Legoland Florida Resort, which includes its namesake Winter Haven theme park, water park, Peppa Pig Theme Park, Sea Life Florida Aquarium and a handful of hotel properties.

Bacica’s most recent position was as president of Busch Gardens Tampa Bay theme park, a role he assumed in July. Before that he was president of Six Flags Great Adventure in New Jersey for two years.

“Legoland Florida Resort is entering an incredibly exciting period of expansion and innovation, and I’m honored to lead the team as we deliver on some highly anticipated park updates,” Bacica said in a news release.

In February, the theme park plans to introduce Galacticoaster, an indoor family-friendly roller coaster. It’s part of a $90 million plan by owner Merlin Entertainments Group that includes a similar ride at Legoland California.

“With major investments like Galacticoaster on the horizon, we have an extraordinary opportunity to build new experiences that spark imagination, strengthen family connections and elevate Central Florida as a must-visit destination for families,” he said. read more

By CORA LEWIS, Associated Press

NEW YORK (AP) — The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the third time since September, bringing its key rate to about 3.6%, the lowest in nearly three years. Before September, it had gone nine months without a cut.

The benchmark rate is the rate at which banks borrow and lend to one another, and the Fed has two goals when it sets the rate: one, to manage prices for goods and services, and two, to encourage full employment. The benchmark rate also affects the interest rates consumers pay to borrow money via credit cards, auto loans, mortgages, and other financial products.

Typically, the Fed might increase the rate to try to bring down inflation and decrease it to encourage faster economic growth, including by boosting hiring. The challenge now is that inflation remains higher than the Fed’s 2% target but the job market has cooled. The government shutdown had also prevented the timely collection and release of some data the Fed relies on to monitor the health of the economy. read more

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — Paramount Skydance says the Chinese gaming and social media giant Tencent Holdings withdrew from its bid to buy Warner Bros Discovery to avert a possible national security review.

Paramount’s revised filing with the U.S. Securities and Exchange Commission of its takeover bid said the Chinese company had dropped its $1 billion financing commitment out of concern, since it would be a “non-U.S. equity financing source,” that its bid might be subject to a review by the Committee on Foreign Investment in the United States, known as CFIUS. That was even though approval by CFIUS or by the Federal Communications Commission was not a condition of the bid.

The SEC filing, dated Monday, said that foreign sovereign wealth funds of Saudi Arabia, Abu Dhabi and Qatar, which are providing $24 billion for Paramount’s bid, had agreed to give up a right to participate in Warner Bros’ management to avoid the additional scrutiny.

On Monday, Paramount launched a hostile $77.9 billion takeover offer for Warner Bros. Discovery, competing with rival bidder Netflix to buy the company behind HBO, CNN and a famed movie studio. read more

PATRICK SPACE FORCE BASE — A trio of runners dressed in camouflage fatigues tucked into light brown boots round the track with gritted teeth, red faces, and muscles strained in their necks, giving one last push at full sprint with the finish line in sight.

Shirts soaked in sweat, they’re each holding onto a rope and can’t let go.

That’s the rule — until they plow through the final stretch. Then the rope gets tossed aside.

One teammate is hunched over, hands on his knees, while another has his hands at his hips, staring at the sky. A third splays across the grass on his back, actually laughing and giving his teammates a thumbs up that he’s OK.

The three just clocked a time of under 18 minutes, having completed the first physical trial of the Space Force Guardian Arena III competition. This year’s competition, held over two days earlier this week, conferred trophies and bragging rates on the best teams among 100-plus participants, most representing the country’s various armed services. read more