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| BankUnited is closed and sold to investors
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| BankUnited Financial, the largest Florida-based lender in Florida, was shut down by banking regulators and sold to a group of private-equity firms. The Coral Gables-based bank, with $14 billion in assets, operates 85 offices, including six in Sarasota, Manatee and Charlotte counties. The company is the sixth-largest financial institution in Florida.
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| @ Sarasota Herald Tribune | Posted: 05/22/09 at 0201 EDST
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| South Florida's international trade drops sharply from year-ago levels
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| First-quarter numbers just released show South Florida trade fell nearly 11 percent from a year earlier, off by $2.4 billion. Imports plunged 21 percent, and exports -- a much bigger business -- slipped about 4 percent. The drop in trade accelerated in March, and experts see no quick rebound amid a global credit crunch and world business slump.
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| @ Ft. Lauderdale Sun Sentinel | Posted: 05/22/09 at 0315 EDST
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| Florida's Tech Data boosts profit in first quarter as revenue falls
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| Tech Data's stock surged 10 percent Thursday on news it boosted profits in what many assumed would be a tough quarter. The Clearwater information technology supplier reported net sales of $4.99 billion for its first quarter ending April 30. That's 17.7 percent below sales of $6.06 billion a year earlier. But cost-cutting helped raise profits to $31.8 million from $21.4 million at the end of the first quarter in 2008. Earnings per share came in at 63 cents, compared with 40 cents last year.
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| @ St. Petersburg Times | Posted: 05/22/09 at 0330 EDST
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| Illinois sues Chicago-based property-rental listing service
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| The Illinois attorney general's office filed suit Thursday against a Chicago-based rental-property listing service, alleging the company wrongly charged consumers a membership fee to access a database with fraudulent or outdated rental homes and apartments.
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| @ Chicago Tribune
| Posted: 05/22/09 at 0345 EDST
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| New job losses decline, but labor market still anemic
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| First-time jobless claims came in at 631,000 last week, down about 12,000 from the week before. The previous week had been pumped up a bit by layoffs in the auto industry. But the number of people continuing to receive benefits climbed to 6.6 million, an increase of about 75,000 and a new, depressing record. The number was in line with what most analysts predicted. Continuing claims have now increased for about 15 weeks in a row.
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| @ Orlando Sentinel | Posted: 05/22/09 at 0320 EDST
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| In the week ending May 16, the advance figure for seasonally adjusted initial claims was 631,000
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| The Initial Claims was a decrease of 12,000 from the previous week's revised figure of 643,000. The 4-week moving average was 628,500, a decrease of 3,500 from the previous week's revised average of 632,000.
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| @ U.S. Department of Labor | Posted: 05/22/09 at 0400 EDST
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| Is America still AAA? Não. Brazil rates America
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| SR Rating, a Brazilian firm, will soon issue a judgment on American government bonds. Its verdict is not pretty: the company says it will issue a AA rating.
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| @ The Economist | Posted: 05/22/09 at 0415 EDST
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| Dollar hits '09 low on rating fears; stocks dip
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| The dollar fell to a 2009 low on Friday as fears intensified that the United States could lose its triple-A rating. The dollar's latest decline started when ratings agency Standard & Poor's cut its ratings outlook on Britain to negative from stable, stoking fears other AAA-rated countries which are running huge debt levels could share a similar fate. Moody's Investor Service said on Thursday it was comfortable with its triple-A sovereign rating on the United States but that it was not guaranteed forever.
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| @ Reuters | Posted: 05/22/09 at 0419 EDST
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| Britain Warned On Credit Rating
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| S & P cut its outlook for Britain yesterday, moving the country a step closer to a downgrade. In cutting its outlook for Britain's sovereign rating from stable to negative for the first time, Standard & Poor's cited debt levels approaching the size of the nation's gross domestic product. While S&P reaffirmed Britain's actual long-term credit rating at AAA, its statement was effectively a warning about massive government spending.
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| @ Washington Post
| Posted: 05/22/09 at 0646 EDST
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| Japan's woeful GDP figures. That kitchen-sinking feeling
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| The data, showing a 4% contraction of GDP on a quarterly basis, and a 15.2% annualised slump, reflect a continuation of Japan’s worst economic performance since the second world war. Not only were the first-quarter figures bad. The previous quarter’s horrendous fall was itself revised downward by more than two percentage points, to an annualised 14.4%.
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| @ The Economist | Posted: 05/22/09 at 0652 EDST
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| UK car production plunges by 55% in April
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| Just 68,258 cars were made in the UK last month, resulting in a fall of 55.3 per cent compared with April last year. The figures are a further blow to the car industry after the Government's scrappage scheme was met with opposition when it launched this week with dealers claiming the scheme would leave them out of pocket - several leading manufacturers including Ford, Vauxhall and Honda were initially refusing to take part.
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| @ London Times | Posted: 05/22/09 at 0655 EDST
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