Miami-based TotalBank reports $1.8 million loss
Sat, 31 Jul 2010 01:00 EDT
TotalBank on Friday reported a second-quarter net loss of $1.8 million, compared with a first-quarter loss of $15.7 million and a loss of $136,000 in the second quarter of 2009. The Miami-based bank said its focus for the first half of this year has been boosting asset quality and fortifying capital, accomplished through a $50 million capital infusion in the first quarter and a $95 million reduction in nonperforming loans during the first half of the year.
Vegas company has modest proposal for air travelers
Sat, 31 Jul 2010 01:00 EDT
A Las Vegas-based website is trying to make money off the latest airport security irritant, full-body scanners.<p/> The concept comes from burlesque: Pasties. For prices starting at $9.99, the modest can use the rubbery stick-ons to cover body parts they'd prefer to keep away from the prying eyes of security officers.
Feds close two Florida banks
Sat, 31 Jul 2010 01:00 EDT
Two Florida banks were shut down by regulators Friday and sold to Centennial Bank of Conway, Arkansas.<p/> Bayside Savings Bank, of Port Saint Joe and Coastal Community Bank of Panama City Beach were closed by federal and state banking agencies, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC, in turn, sold them to Centennial Bank.
Disney agrees to sell Miramax Films to investor group led by Ron Tutor
Sat, 31 Jul 2010 01:00 EDT
After months of negotiations with various buyers that failed to bear fruit, Walt Disney Co. finally agreed to sell its Miramax Films unit in a deal that severs the independent movie pioneer's 17-year association with the Burbank studio.
Miami-Dade, Broward businesses eligible for oil spill disaster loans
Sat, 31 Jul 2010 01:00 EDT
Broward and Miami-Dade counties have been added to the list of those eligible for federal disaster loans due to losses from the BP oil spill. Under the program, the Small Business Administration is offering working capital loans up to $2 million at 3 percent interest for nonprofit organizations and 4 percent for businesses with terms up to 30 years.
Federal billions to push small business lending come up short
Sat, 31 Jul 2010 01:00 EDT
Carl Calhoun makes mattresses for a living, but lately he's been enduring more than his share of sleepless nights.<p/> As the president and CEO of the Body Rest Mattress in St. Petersburg, Calhoun and his wife, Emma, are struggling to keep their 28-year-old company from becoming another casualty of the Great Recession.
Miami Heat fires ticket-sales team after LeBron sellouts
Fri, 30 Jul 2010 23:00 EDT
The Miami Heat easily sold out its season tickets after LeBron James announced he was joining the team. That turned out to be bad news for the ticket-sales staff, which the Heat fired Friday.<p/> The Miami Heat easily sold out its season tickets after LeBron James announced he was joining the team. That turned out to be bad news for the ticket-sales staff, which the Heat fired Friday.
Work perk: Some offices allow early exit on Fridays
Fri, 30 Jul 2010 01:00 EDT
Summertime and the living is easier -- at least in some Miami offices.<p/> Summer Fridays, the traditional long weekends in New York publishing houses, have trickled down to Miami in the past decade, especially in the advertising and public relations fields.
More restaurants add `Miami Spice' to the menu
Fri, 30 Jul 2010 02:00 EDT
When the economy was booming, some of Miami's higher-end restaurants didn't see the benefit of Miami Spice's discount dining. Others participated but didn't readily promote the menu. They saw no need to cater to bargain-hunters.
Marathon's Fishermen's Hospital seeks new management team
Fri, 30 Jul 2010 01:00 EDT
With the Florida Keys struggling to provide quality healthcare, Fishermen's Hospital in Marathon hopes to find a new manager next month to revive its facility, which often has fewer than 10 patients.
Florida goes after Gulf oil spill scams
Fri, 30 Jul 2010 01:00 EDT
The state attorney general is investigating two Florida companies over claims they offered free emergency response training for oil spill clean up work but then withheld students' training certificates unless they paid a large fee.
Winn-Dixie to close four Broward stores
Fri, 30 Jul 2010 01:00 EDT
Winn-Dixie Stores announced that it will close 30 stores nationwide, including four in Broward County.<p/> The supermarket chain, which operates 514 stores nationwide, said the move was driven by the weak economy. On Tuesday, the company announced that it would eliminate 120 jobs in its corporate and field support staffs.
Citigroup to pay $75M to settle charges
Fri, 30 Jul 2010 01:00 EDT
Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
Miami-Dade sues DIRECTV
Fri, 30 Jul 2010 01:00 EDT
The Miami-Dade Consumer Services Department sued DIRECTV this week, accusing the company of using ads that mislead consumers about the cost of services and failing to properly disclose the terms of its contracts.
Citrix sees sales, earnings rise
Fri, 30 Jul 2010 01:00 EDT
Citrix Systems reported a 12 percent jump in second-quarter earnings Wednesday, helped by a 17 percent rise in sales.<p/> The company's profit missed Wall Street expectations, but a stronger-than-expected forecast for this quarter and the full year helped boost Citrix shares in extended trading.
When Double Dippers become economic party poopers
Sat, 31 Jul 2010 09:30 EDT
They're a minority, but a vocal one, and they're hovering like storm clouds over a brittle recovery.
AP EXCLUSIVE: Salazar tours rigs, keeps drill ban
Sat, 31 Jul 2010 09:30 EDT
The helicopter passes over the blue waters of the Gulf of Mexico - with surprisingly little oil visible on its surface - when out of the sea rises a skyscraper-like structure nearly 350 feet above the waves. The $600 million rig, nearly 100 miles off Louisiana's coast, has a hull larger than a football field and can drill more than 5 miles beneath the ocean floor.
Debris in relief well sets back work on gusher
Sat, 31 Jul 2010 07:20 EDT
Tropical Storm Bonnie left crews working to plug the Gulf oil gusher a little memento that is expected to push their work back about a day.
Poles hope deadly knights will now bring some good
Sat, 31 Jul 2010 07:10 EDT
They were medieval warriors who spread Catholicism by the sword and seized Polish lands with great cruelty. But that's not stopping the Polish city of Kwidzyn from capitalizing on the aura surrounding the Teutonic Knights.
ICICI Bank profit up 17 percent on better loans
Sat, 31 Jul 2010 06:45 EDT
ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy.
Obama blames GOP on small business lending bill
Sat, 31 Jul 2010 06:10 EDT
President Barack Obama is going after Senate Republicans who have stymied his proposal to create a $30 billion fund to help unfreeze lending for credit-starved small businesses.
Out of pilots, Philippine airline grounds flights
Fri, 30 Jul 2010 23:40 EDT
Good morning, passengers, and welcome aboard. We're expecting clear skies today, but we're out of pilots.
Miami-based TotalBank reports $1.8 million loss
Sat, 31 Jul 2010 01:00 EDT
TotalBank on Friday reported a second-quarter net loss of $1.8 million, compared with a first-quarter loss of $15.7 million and a loss of $136,000 in the second quarter of 2009. The Miami-based bank said its focus for the first half of this year has been boosting asset quality and fortifying capital, accomplished through a $50 million capital infusion in the first quarter and a $95 million reduction in nonperforming loans during the first half of the year.
Disney agrees to sell Miramax Films to investor group led by Ron Tutor
Sat, 31 Jul 2010 01:00 EDT
After months of negotiations with various buyers that failed to bear fruit, Walt Disney Co. finally agreed to sell its Miramax Films unit in a deal that severs the independent movie pioneer's 17-year association with the Burbank studio.
Cleanup of Mich. river oil spill will take months
Fri, 30 Jul 2010 21:15 EDT
Officials investigating the cause of a huge oil spill along a major river in southern Michigan say it will take months to clean up the mess, and damage to wetlands and wildlife may last considerably longer.
Big drop in U.S. agricultural sales to Cuba
Thu, 29 Jul 2010 01:00 EDT
U.S. agricultural exports to Cuba fell 35 percent in the first five months of this year compared with the same period in 2009, largely because of the island's shortage of hard currency, according to a recent report.
Deutsche Bank profit rises to $1.5 billion
Tue, 27 Jul 2010 08:27 EDT
Deutsche Bank, Germany's largest bank, said second-quarter profit rose 6.4 percent, beating analysts' estimates, as gains in retail and transaction banking helped offset a decline in sales and trading.
Tiny loans propel big dreams
Mon, 26 Jul 2010 01:00 EDT
Elvita Francois proudly shows off a shiny new buffet counter at her tiny restaurant inside the Opa-locka Flea Market, where she serves Haitian and Latin specialties like goat, oxtail and congris.
Chávez cracks down on scrutiny
Fri, 23 Jul 2010 22:17 EDT
In June, Venezuela issued an arrest warrant for the head of Globovisión, which reaches 2.5 million homes and is the nation's last openly critical TV station.
Royal Caribbean sees boost in income for 2nd quarter
Fri, 23 Jul 2010 01:00 EDT
Buoyed by the addition of the world's largest cruise ship, Oasis of the Seas, Royal Caribbean Cruises, the world's second-largest cruise operator, has raised its full-year profit forecast.
Royal Caribbean raises full-year profit forecast
Thu, 22 Jul 2010 12:57 EDT
Royal Caribbean Cruises, the world's second-largest cruise operator, raised its full-year profit forecast, boosted by cost controls and the addition of the biggest passenger ship.
Brazilian tourists flock to South Florida, spend more
Thu, 22 Jul 2010 07:42 EDT
Brazilian tourists are flocking to the Sunshine State, reflecting the economic boom in their South American nation, the strength of their currency, easier visa approvals and more flights to Florida.
American Airlines parent AMR expected to report loss
Wed, 21 Jul 2010 07:57 EDT
Delta and United turned in their best quarter in years, but analysts aren't expecting similar fireworks when American Airlines parent AMR releases second-quarter results Wednesday.
Hugo Chávez's claim over Globovisión called `absurd'
Wed, 21 Jul 2010 01:00 EDT
Guillermo Zuloaga, the president of Venezuela's last opposition TV station, said the government's claim to own a minority stake in his company was ``absurd'' and built on flawed logic.
Colombian president-elect wants to get along with neighbors
Fri, 16 Jul 2010 01:00 EDT
Colombian President-elect Juan Manuel Santos said Thursday that he hoped to repair his nation's tattered relationship with Venezuela and Ecuador -- even as the Colombian government threatened to open fresh wounds in the ongoing battle.
Penthouse owner outbids Hugh Hefner to acquire Playboy
Thu, 15 Jul 2010 13:27 EDT
Boca Raton-based FriendFinder Networks, the owner of Penthouse magazine, said it will offer $210 million to acquire Playboy Enterprises, challenging a bid from Hugh Hefner to take the company private.
Google's 2010 shopping spree has cost $1.1B so far
Fri, 30 Jul 2010 18:20 EDT
Google Inc. has spent $1.1 billion during the first half of the year buying up 22 companies, with more than half of the amount going toward its recently completed acquisition of mobile ad service AdMob.
Motorola spent $880,000 lobbying in second quarter
Fri, 30 Jul 2010 16:35 EDT
Motorola Inc., the maker of cell phones and other telecommunications equipment, spent $880,000 in the first quarter to lobby the federal government on laws such as those that sought to discourage electronics manufacturers from using minerals from rebel-held mines in the Congo, according to a disclosure report.
Nokia spent $150,000 on lobbying in second quarter
Fri, 30 Jul 2010 16:10 EDT
Nokia Inc., the world's largest maker of cell phones, spent $150,000 in the second quarter to lobby the U.S. federal government on patents, the use of minerals from rebel-held mines in the Congo and other issues, according to a disclosure report.
Varian Semi posts 3Q profit, revenue growth
Fri, 30 Jul 2010 16:05 EDT
Varian Semiconductor Equipment Associates Inc. said it returned to profit in the fiscal third quarter, reversing a year-ago loss, on strong revenue growth linked to recovering demand for computer chips.
Ingram Micro shares up after 2Q results
Fri, 30 Jul 2010 15:00 EDT
Shares of technology marketer and distributor Ingram Micro Inc. rose Friday after its second-quarter results exceeded Wall Street expectations.
Digimarc reports wider 2Q loss on joint venture
Fri, 30 Jul 2010 14:20 EDT
Digimarc Corp., which develops digital watermarking technology for images, reported a wider second-quarter loss on Friday as it booked development costs for joint venture investments with The Nielsen Co.
Quest Software shares jump after solid 2Q results
Fri, 30 Jul 2010 14:05 EDT
Shares of Quest Software Inc. got a boost Friday after the business software maker posted better-than-expected second-quarter results.
Guyana to sell needy 90,000 computers at discount
Fri, 30 Jul 2010 13:30 EDT
Guyana has pledged to spend $30 million in the next three years to buy 90,000 laptops and resell them at a discount to the poor.
Cell phone shipments continue to recover
Fri, 30 Jul 2010 09:51 EDT
The number of cell phones shipped worldwide rose 14.5 percent in the second quarter compared with a year earlier, with much of the growth coming from smaller challengers like the iPhone and BlackBerry, according to research firm IDC.
Slovene police, FBI hail ties in cyber crime probe
Fri, 30 Jul 2010 09:06 EDT
An FBI official said Friday a two-year-long multinational investigation led them to nab a 23-year-old Slovenian, who allegedly created a malicious software code that infected 12 million computers worldwide.
Peas 'I Gotta Feeling' downloaded 6 million times
Fri, 30 Jul 2010 10:11 EDT
The Black Eyed Peas have more proof of the ubiquity of "I Gotta Feeling."
Airline fares rose in first quarter, government reports
Thu, 29 Jul 2010 01:00 EDT
If you think airfares have been rising, it's not your imagination.<p/> Figures just released from the government, while a bit dated, show that airline prices in the first three months of this year rose nearly 5 percent from a year earlier. And that doesn't include baggage fees and other extras.
Miami-Dade tourist tax falls 20 percent
Wed, 07 Oct 2009 14:46 EDT
An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.<p/> An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.
Miami Heat fires ticket-sales team after LeBron sellouts
Sat, 31 Jul 2010 01:00 EDT
The Miami Heat easily sold out its season tickets after LeBron James announced he was joining the team. That turned out to be bad news for the ticket-sales staff, which the Heat fired Friday.<p/> The Miami Heat easily sold out its season tickets after LeBron James announced he was joining the team. That turned out to be bad news for the ticket-sales staff, which the Heat fired Friday.
ICICI Bank profit up 17 percent on better loans
Sat, 31 Jul 2010 06:45 EDT
ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy.
When Double Dippers become economic party poopers
Sat, 31 Jul 2010 09:30 EDT
They're a minority, but a vocal one, and they're hovering like storm clouds over a brittle recovery.
Poles hope deadly knights will now bring some good
Sat, 31 Jul 2010 07:10 EDT
They were medieval warriors who spread Catholicism by the sword and seized Polish lands with great cruelty. But that's not stopping the Polish city of Kwidzyn from capitalizing on the aura surrounding the Teutonic Knights.
Debris in relief well sets back work on gusher
Sat, 31 Jul 2010 07:20 EDT
Tropical Storm Bonnie left crews working to plug the Gulf oil gusher a little memento that is expected to push their work back about a day.
Obama blames GOP on small business lending bill
Sat, 31 Jul 2010 06:10 EDT
President Barack Obama is going after Senate Republicans who have stymied his proposal to create a $30 billion fund to help unfreeze lending for credit-starved small businesses.
Faulty storm shutter needed replacement
Sat, 31 Jul 2010 01:00 EDT
Rolladen Inc. installed new hurricane shutters in our condo in May, June or July of 2008. In Nov. 2009, before leaving on a long trip, I decided to close them. That's when I noticed they had split open.
Payment to Sunpass account lost
Sat, 31 Jul 2010 01:00 EDT
I have been experiencing a lot of problems with the SunPass payment system. I have an old account and a new account. I paid both with a money order in the same envelope. Somehow, the payment for the old account got lost.