Heavy police presence reported in Cape Coral neighborhoodWarm afternoon with stray showers possible inland
CAPE CORAL Heavy police presence reported in Cape Coral neighborhood The Cape Coral Police Department is responding to a scene located at Southwest 45th Street and Pelican Boulevard.
The Weather Authority Warm afternoon with stray showers possible inland The Weather Authority is tracking a warmer Wednesday afternoon with a chance for stray showers, primarily inland.
SANIBEL Lee County parents push for clarity on school reopenings post-Milton Parents are demanding answers from the Lee County School District. It’s still not clear when students will return to Sanibel School or Fort Myers Beach Elementary after facing Hurricane Milton.
CAPE CORAL Man arrested after hours long standoff in Cape Coral A man is in custody following an hours-long stand-off with Cape Coral police.
SANIBEL Sanibel school parents seek timeline on school reopening A school board meeting to discuss damage at the barrier islands’ schools took place on Tuesday in Lee County.
MARCO ISLAND Marco Island police chief gets no confidence vote from union Marco Island Police Chief Tracy Frazzano has received a vote of no confidence from the police union.
Nonprofit organization tests water quality in Charlotte County One local non-profit is working to keep track of Charlotte County’s water quality.
SANIBEL Building Resilience: How Sanibel businesses recover from hurricanes Operating in Sanibel is difficult enough; however, when mother nature interferes, recovering can become a monumental feat.
FORT MYERS BEACH Getting the help you need from FEMA Jeff Keenan has been out of his condo on Fort Myers Beach since Hurricane Ian.
FORT MYERS Cold Case Solved: Man sentenced for 2004 murder of Lee County man A family is now able to have closure after a cold case was solved 20 years after it happened.
MATLACHA The Blue Dog Bar and Grill reopens on Matlacha The Blue Dog Bar and Grill on Matlacha has reopened after being damaged by two back-to-back Hurricanes.
SWFL homeowners investing in water filtration systems After hurricanes Helene and Milton, many homeowners are turning to the trend of adding water filtration systems to protect their plumbing and improve their water quality.
GROVE CITY Boat stuck in Grove City backyard after Hurricane Milton One Charlotte County community is still picking up from Hurricane Milton. The Grove City community is just south of McCall Road.
FGCU FGCU basketball player helps treat others during Peru mission trip FGCU power forward Michael Duax went to Peru on a mission trip in the offseason to help give medical care to those in the country.
WINK NEWS Collier County Public Schools mourns death of student According to the letter, a number of resources will be offered to students in the affected school.
CAPE CORAL Heavy police presence reported in Cape Coral neighborhood The Cape Coral Police Department is responding to a scene located at Southwest 45th Street and Pelican Boulevard.
The Weather Authority Warm afternoon with stray showers possible inland The Weather Authority is tracking a warmer Wednesday afternoon with a chance for stray showers, primarily inland.
SANIBEL Lee County parents push for clarity on school reopenings post-Milton Parents are demanding answers from the Lee County School District. It’s still not clear when students will return to Sanibel School or Fort Myers Beach Elementary after facing Hurricane Milton.
CAPE CORAL Man arrested after hours long standoff in Cape Coral A man is in custody following an hours-long stand-off with Cape Coral police.
SANIBEL Sanibel school parents seek timeline on school reopening A school board meeting to discuss damage at the barrier islands’ schools took place on Tuesday in Lee County.
MARCO ISLAND Marco Island police chief gets no confidence vote from union Marco Island Police Chief Tracy Frazzano has received a vote of no confidence from the police union.
Nonprofit organization tests water quality in Charlotte County One local non-profit is working to keep track of Charlotte County’s water quality.
SANIBEL Building Resilience: How Sanibel businesses recover from hurricanes Operating in Sanibel is difficult enough; however, when mother nature interferes, recovering can become a monumental feat.
FORT MYERS BEACH Getting the help you need from FEMA Jeff Keenan has been out of his condo on Fort Myers Beach since Hurricane Ian.
FORT MYERS Cold Case Solved: Man sentenced for 2004 murder of Lee County man A family is now able to have closure after a cold case was solved 20 years after it happened.
MATLACHA The Blue Dog Bar and Grill reopens on Matlacha The Blue Dog Bar and Grill on Matlacha has reopened after being damaged by two back-to-back Hurricanes.
SWFL homeowners investing in water filtration systems After hurricanes Helene and Milton, many homeowners are turning to the trend of adding water filtration systems to protect their plumbing and improve their water quality.
GROVE CITY Boat stuck in Grove City backyard after Hurricane Milton One Charlotte County community is still picking up from Hurricane Milton. The Grove City community is just south of McCall Road.
FGCU FGCU basketball player helps treat others during Peru mission trip FGCU power forward Michael Duax went to Peru on a mission trip in the offseason to help give medical care to those in the country.
WINK NEWS Collier County Public Schools mourns death of student According to the letter, a number of resources will be offered to students in the affected school.
MOSCOW (AP) – The Russian ruble faced intense selling pressure Tuesday, falling at one stage by a whopping 20 percent to historic lows despite a massive pre-dawn interest rate hike from the country’s central bank. The surprise decision to raise the rate to 17 percent from 10.5 percent came in the middle of the night and represented a desperate attempt to prop up the troubled currency. The ruble has fallen sharply in recent weeks as a result of sliding oil prices as well as the impact of Western sanctions imposed over Russia’s involvement in Ukraine. The collapse in the ruble, which has spurred ordinary Russians to buy imported products such as fridges and cars and is stoking inflation, is likely to heap pressure on President Vladimir Putin. Still, support for Putin appears to be holding up. State television, meanwhile, urged citizens not to panic amid Tuesday’s rout. The Central Bank’s move on interest rates aimed to encourage currency traders to hold onto their rubles – doing so gives them potentially big returns, certainly in comparison to many other currencies, such as the dollar, where the interest rate returns are near zero percent. The ruble traded at 72 per dollar late Tuesday afternoon. That’s a modest improvement on where it was earlier – it hit 78.5 to the dollar – but still means the currency is more than 60 percent down from where it was in January. Timothy Ash at London-based Standard Bank described the ruble’s fall as “the most incredible currency collapse I think I have ever seen in the 17 years in the market, and 26 years covering Russia.” Ash said “there is now a huge credibility gap for Russian policy makers in the eyes of the market” and that the decline is all the more astonishing given Russia’s solid foreign currency reserves and the fact that it runs a budget surplus. But the message from state television is that there is no need to panic and a weak ruble is actually good for the economy because it will stimulate domestic production and make exports cheaper. So far, Russians appear to trust that the government is able to control the situation. If anything, many see the West as to blame. Central Bank chairwoman Elvira Nabiullina said the rate hike should stem inflation – higher borrowing costs effectively choke economic activity, dampening down price pressures. However, she conceded that the ruble’s value will not be immediately influenced by the rate hike and added that it will take the ruble “some time” before it finds a fair value. Other options available to the Russian authorities to stem the selling tide could be imposing capital controls or actual intervention in the markets – buying rubles, for example. The Central Bank has intervened directly in the past few months. Higher interest rates may eventually offer support to the ruble, but it’s likely to cause much hardship in an economy that’s already heading for recession. Russian stocks were solid on Tuesday, though, with the MICEX benchmark 2 percent up late afternoon. Neil Shearing, chief economist for emerging markets at London-based Capital Economics, said the rate hike will cause “a further tightening of credit conditions for households and businesses and a deeper downturn in the real economy in 2015.” Given Russia’s huge dependence on oil revenues, the recent sharp falls in the price of oil have hit the Russian economy hard. That’s exacerbated by the fact that the Russian economy isn’t diversified enough to withstand the shock. The average price of a barrel of oil has dropped below $56 from a summer high of $107. The government recently downgraded its forecast for next year, predicting that the economy will sink into recession. Most international forecasters think the Russian economy is set to contract next year. Alexei Kudrin, Russia’s finance minister in 2000-2011, said on Twitter following the rate hike that “the fall of the ruble and the stock market is not just a reaction to low oil prices and the sanctions but also (a show of) distrust to economic policies of the government.” Kudrin added that the rate hike “should be followed by government measures to raise investor confidence in the Russian economy.” He did not say what steps he advocated.