Pedestrian injured in crash on McGregor BoulevardFamily of Eagles: FGCU volleyball star graduates with Master’s Degree
FORT MYERS Pedestrian injured in crash on McGregor Boulevard The Fort Myers Police Department is investigating a crash that left at least one person injured Saturday night.
Family of Eagles: FGCU volleyball star graduates with Master’s Degree Saturday marked a special day for Florida Gulf Coast University as more than 1,800 students graduated. For one student-athlete, graduating from FGCU runs in the family.
lehigh acres LCSO: Man shot by car owner protecting property The Lee County Sheriff’s Office responded to a shooting in Lehigh Acres early Saturday morning.
NORTH FORT MYERS Lee County residents wait hours for D-SNAP assistance The supplemental nutrition assistance program (SNAP) is at the Lee Civic Center all weekend, ready to help southwest Florida.
SOUTHWEST FLORIDA First eaglet hatches in famous SWFL eagle nest Welcome E24! The third eaglet from the nest of M15 and F23 has hatched according to the Southwest Florida eagle camera.
Rock for Equality: SWFL non-profit hosts benefit concert for Palestine A Southwest Florida non-profit hosted a benefit concert on Friday night to help with humanitarian aid in Palestine.
Warm, breezy Saturday with a few showers possible The Weather Authority is forecasting a breezy, warm weekend in store across Southwest Florida, with the chance of a few showers, particularly on Saturday.
CAPE CORAL Active investigation underway in South Cape Coral Cape Coral police are investigating at a home on Southwest 49th Terrace in South Cape Coral early Saturday morning.
16 transported after 2 airboats crash in Collier County According to the Collier County Sheriff’s Office, two airboats crashed south of U.S. 41 east between mile markers 74 and 75, leaving well over a dozen people injured.
SOUTHWEST FLORIDA New bill filed: Auto shop and law enforcement must work together to solve hit-and-run crashes There could be new detectives on the block, located in your nearest auto shop. A new state bill aims at trying to stop hit-and-run drivers from getting away.
CAPE CORAL New leash on life; Cape Coral shelter dog beats cancer with drug being tested for humans A drug now being studied in human trials to kill cancerous tumors, is already approved and helping animals.
CAPE CORAL City of Cape Coral planning a new interchange with I-75 The city of Cape Coral is in the early stages of planning a new interchange with I-75, an idea that has been discussed for more than a decade.
Tracking invasive species after hurricanes Hurricanes Helene and Milton didn’t just bring wind and rain, they brought new threats to southwest Florida’s ecosystem.
PUNTA GORDA Woman in Punta Gorda shooting charged with 2nd degree murder A woman in a homicide investigation on Nasturtium Drive in Punta Gorda has been charged with 2nd-degree murder.
Lee County mother continuing fight to get children a bus stop The school district already told her she lives too close to the school to qualify for a bus route but she has not given up.
FORT MYERS Pedestrian injured in crash on McGregor Boulevard The Fort Myers Police Department is investigating a crash that left at least one person injured Saturday night.
Family of Eagles: FGCU volleyball star graduates with Master’s Degree Saturday marked a special day for Florida Gulf Coast University as more than 1,800 students graduated. For one student-athlete, graduating from FGCU runs in the family.
lehigh acres LCSO: Man shot by car owner protecting property The Lee County Sheriff’s Office responded to a shooting in Lehigh Acres early Saturday morning.
NORTH FORT MYERS Lee County residents wait hours for D-SNAP assistance The supplemental nutrition assistance program (SNAP) is at the Lee Civic Center all weekend, ready to help southwest Florida.
SOUTHWEST FLORIDA First eaglet hatches in famous SWFL eagle nest Welcome E24! The third eaglet from the nest of M15 and F23 has hatched according to the Southwest Florida eagle camera.
Rock for Equality: SWFL non-profit hosts benefit concert for Palestine A Southwest Florida non-profit hosted a benefit concert on Friday night to help with humanitarian aid in Palestine.
Warm, breezy Saturday with a few showers possible The Weather Authority is forecasting a breezy, warm weekend in store across Southwest Florida, with the chance of a few showers, particularly on Saturday.
CAPE CORAL Active investigation underway in South Cape Coral Cape Coral police are investigating at a home on Southwest 49th Terrace in South Cape Coral early Saturday morning.
16 transported after 2 airboats crash in Collier County According to the Collier County Sheriff’s Office, two airboats crashed south of U.S. 41 east between mile markers 74 and 75, leaving well over a dozen people injured.
SOUTHWEST FLORIDA New bill filed: Auto shop and law enforcement must work together to solve hit-and-run crashes There could be new detectives on the block, located in your nearest auto shop. A new state bill aims at trying to stop hit-and-run drivers from getting away.
CAPE CORAL New leash on life; Cape Coral shelter dog beats cancer with drug being tested for humans A drug now being studied in human trials to kill cancerous tumors, is already approved and helping animals.
CAPE CORAL City of Cape Coral planning a new interchange with I-75 The city of Cape Coral is in the early stages of planning a new interchange with I-75, an idea that has been discussed for more than a decade.
Tracking invasive species after hurricanes Hurricanes Helene and Milton didn’t just bring wind and rain, they brought new threats to southwest Florida’s ecosystem.
PUNTA GORDA Woman in Punta Gorda shooting charged with 2nd degree murder A woman in a homicide investigation on Nasturtium Drive in Punta Gorda has been charged with 2nd-degree murder.
Lee County mother continuing fight to get children a bus stop The school district already told her she lives too close to the school to qualify for a bus route but she has not given up.
Chemical and oil tanker Tina Theresa, right, sits docked near shipping cranes at the port of Hamburg in Hamburg, Germany, on Wednesday, Feb. 12, 2020. Germany’s biggest bank has given the strongest warning yet that the nation is close to a recession as the coronavirus outbreak exacerbates its long-running industrial slump. Photographer: Krisztian Bocsi/Bloomberg via Getty Images From stocks to bonds and currencies, the coronavirus outbreak is rocking all corners of financial markets. For oil producers, the pain has been particularly acute. With demand dissipating, oil has plunged into a bear market, putting pressure on OPEC to step in and attempt to stabilize prices. But as the coronavirus continues to spread around the world can the cartel really play the savior? That’s the question this week, as OPEC members and allied producers gather in Vienna for meetings on Thursday and Friday. The backdrop: Brent crude futures, the global benchmark, finished Friday at $50.52 per barrel, down 13.6% for the week. US oil was trading at $44.76, a 16.2% weekly decline. Prices haven’t been that low since late 2018. Why OPEC needs to act: The economies of some OPEC members are reliant on crude production, and the coronavirus has sharply reduced demand for products such as gasoline and jet fuel. To keep prices from dropping further, OPEC may turn to what has become its preferred strategy in recent years: coordinated production cuts. The Financial Times has reported that Saudi Arabia is pushing for a cut in production of 1 million barrels per day, much more than first expected. The kingdom would shoulder the brunt of the reduction, while Kuwait, the United Arab Emirates and Russia would split the rest, according to the FT. Russia is not a member of OPEC, but it has coordinated production levels with the cartel in recent years. Giovanni Staunovo, an analyst at UBS, thinks that may not be enough to alter oil’s trajectory in the near term. “I’m not sure this [would be] sufficient to change the negative market sentiment,” he told me. “What is cheap can get cheaper.” Bright spot: Staunovo points out that oil prices aren’t sustainable for long at their current level. Within six months and a year, lower business investment across a struggling industry will restrict supply, helping to prop up prices, he said. Plus, bargain crude will eventually stimulate demand. Oswald Clint, an analyst at Bernstein, agrees that prices will need to push higher before long. He thinks that an OPEC cut of 1 million barrels per day would be sufficiently supportive, especially given falling oil production in countries like Norway that predated the coronavirus outbreak. But both Staunovo and Clint agree that oil markets need a bailout from OPEC — and soon. Stocks just had a brutal week. The next one may not be easier Global stocks have fallen for seven trading sessions in a row, lodging their worst week since the 2008 financial crisis and putting investors on edge as the novel coronavirus continues to spread outside China. What’s happening: Stocks plunged and financial conditions tightened as traders woke up to the risks that the virus poses to global economic growth and corporate earnings, with cases now present in more than 50 countries and territories. The Dow finished the week down 12.4%, while the S&P 500 slid 11.5%. US stocks recovered some losses in the late hours of trading on Friday after Federal Reserve Chairman Jerome Powell put out a rare statement. “The fundamentals of the US economy remain strong,” he said, while acknowledging that the coronavirus “poses evolving risks to economic activity.” The central bank, Powell said, will “act as appropriate to support the economy.” To investors, the message was loud and clear: expect the Fed to cut interest rates when it meets in March. According to CME Group’s FedWatch tool, 100% of investors now predict a rate cut in March — with nearly 95% forecasting that the Fed will lower rates by a decisive 50 basis points. Will that reassurance be enough to help markets stabilize this week? It’s hard to say. After years of persistently low interest rates, investors are worried that central banks lack sufficient ammunition to stave off a crisis. “An interest rate cut in this environment will arguably do little to affect real economic activity,” Morgan Stanley economist Ellen Zentner told clients Friday. And the market remains driven by news of how the outbreak is moving around the world, as well as how it’s hitting businesses and economies. On Saturday, China said that factory activity in February hit the weakest level on record, and the first person died from the coronavirus in the United States. Justin Onuekwusi, a fund manager at Legal & General Investment Management, told me that his team — which manages $84 billion in retail multi-asset funds — has reduced its exposure to stocks and the Korean won. “We don’t feel the market has certainty on this,” he said. “The impact on Chinese growth and the rest of the world is potentially quite huge.” Up next Monday: US and China manufacturing data; JD.com and Tilray earnings Tuesday: Japan consumer confidence; US auto sales; Kohl’s, Target and Nordstrom earnings Wednesday: US services data; Abercrombie & Fitch, Campbell Soup and Dollar Tree earnings Thursday: OPEC meeting; Kroger, American Outdoor Brands and Costco earnings Friday: OPEC meeting; US jobs report