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Friday's Daily Pulse
What you need to know about Florida today
Florida banks flush with cash as customers squirrel away money
As consumers seek safer havens for their money in the wake of the Silicon Valley Bank collapse, Florida banks have benefited from a sharp rise in deposits. But challenges loom. Some Florida bankers consider recent national events as noise, rather than a signal for massive shifts in money moves. [Source: Business Observer]
Business Beat - Week of Apriil 21st
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Florida jobless claims total little changed
With the state slated to release a March unemployment report Friday, the pace of jobless claims in Florida remains relatively unchanged since a brief spike in October after Hurricane Ian. The U.S. Department of Labor on Thursday estimated 5,289 first-time jobless applications were filed last week in Florida, down from a revised count of 6,278 during the week that ended April 8. During the past four weeks, the state has averaged 5,448 claims. [Source: News Service of Florida]
Is year-round school a good idea? Florida may offer it in some classes to study the results
Why would anyone prefer having school year-round when a summer vacation beckons with so much fun? The debate over whether year-round schooling is a good educational approach has again been thrust in the spotlight — this time with a new Florida bill that calls for creating a pilot program for five yet-to-be-determined school districts in Florida. Florida’s bill, if signed into law, would start the pilot program in the 2024-2025 school year and will run for four years so the results can be studied. [Source: South Florida Sun-Sentinel]
Florida lawmakers could end local living wage policies
State lawmakers could slash local living wage policies, which require companies bidding on work from cities and counties to pay their laborers at least $15 per hour. Legislation could move forward next week in the Florida House preempting such local rules, while an amendment to do so was drafted and withdrawn this week in the Florida Senate — though it could resurface before the session is scheduled to end May 5. [Source: Orlando Sentinel]
ALSO AROUND FLORIDA:
› Getting closer: Brightline to start selling tickets from South Florida to Orlando in May
Brightline, the South Florida-based high-speed rail service, said Thursday it intends to start selling tickets for its expanded service to Orlando in May for trips that will start at an unspecified date this summer. One-way fares will start at $79 for its SMART service and $149 for PREMIUM. The company will offer “fare bundles” for families of four for less than $199 one way.
› VyStar Credit Union merging with 121 Financial Credit Union
Jacksonville-based VyStar Credit Union said April 20 it is merging with another Jacksonville institution, 121 Financial Credit Union. VyStar, the 13th largest credit union in the country, has 68 offices in North Florida and Southeast Georgia, according to its annual report, while 121 Financial has eight branches, all in the Jacksonville metropolitan area. 121 Financial was founded in 1935 as Florida Telco Credit Union. It took on the 121 Financial name in 2010.
› A year after it opened in Aventura, this famous, over-the-top restaurant has closed
Influencers may flock to the famous Sugar Factory restaurants for their photogenic desserts and smoking cocktails, but the newest Miami-Dade location has closed after only a year. Sugar Factory at the Aventura Mall, which opened in the spring of 2022, closed its doors on April 10, according to a spokesperson for the mall. The restaurant space was 7,000 square feet and included an indoor dining room, a 20-seat bar, an outdoor patio and a private dining room for up to 24 guests.
› WEDU documentary ‘The Sarasota Experience’ captures history of a community
Having grown up in Sarasota, producer and director Shaun Greenspan said he experienced a “filmmaker’s dream” in being able to make a movie about the history and future of his hometown. “It’s a home run,” he said about his latest project, “The Sarasota Experience,” a one-hour documentary that debuted at 9 p.m. Thursday on WEDU.
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