Royal Caribbean to sell interest in Island Cruises

Royal Caribbean Cruises (RCL) said Monday it will sell its half-interest in Island Cruises to First Choice Holidays Ltd., the other 50 percent owner in the joint venture.

GAMING CRUISES

SeaEscape ship headed for the auction block

The odds of SeaEscape resurrecting its floating gambling business took a turn for the worse after a federal judge ordered the ship sold at auction.

Orange juice futures show decline

Orange juice futures fell on concern that the credit crisis and a slumping global economy will erode demand for commodities. U.S. sales of orange juice fell 4.5 percent in the 11 months ending Aug. 30 from a year earlier, according to an AC Nielsen report on the Florida Department of Citrus website. The credit crunch may spur investors to sell futures to raise cash, said Donna Heidkamp, a senior trading advisor at RJO Futures in Chicago.

Sun Country Airlines files for bankruptcy

Regional carrier Sun Country Airlines is filing for Chapter 11 bankruptcy, blaming legal troubles from a fraud investigation of its parent company, Petters Group Worldwide.

Wall St. woes may hit municipalities

Financing arrangements with ties to troubled Wall Street firms could come back to haunt finance deals for Florida counties and municipalities.

Europe's woes could hurt South Florida tourism, other sectors

For months, South Florida business leaders have been thanking their lucky stars for Europe. The weak dollar has made our region attractive to Europeans. A Miami vacation, a Fort Lauderdale Beach condominium, a boat made in West Palm Beach -- all seemed cheap when you were paying in euros.

Celebrity fragrances boost sales for Parlux

Strong department store sales of fragrances by Jessica Simpson and Paris Hilton helped Parlux (PARL) post an estimated 43 percent increase in second-quarter sales.

MORTGAGES

Homeowners get some relief from Countrywide Financial

Countrywide Financial will provide Florida homeowners up to $1 billion in mortgage relief under a settlement reached with the state's attorney general over alleged abusive lending practices. 1223403007

TECHNOLOGY

It's a life-or-death matter every day at ACR Electronics

A poster-sized copy of a letter hangs in the modest lobby of Fort Lauderdale-based ACR Electronics, one of the largest safety- and survival-equipment companies in the world.

PERSONAL FINANCE

Leave money where it is, or try safe alternatives

``Turn off the TV.'' That's the advice financial planner Harold Evensky is giving to skittish clients concerned about their dwindling investments amid the financial crisis.

BANKING

Battle to buy Wachovia could end up in court

Citigroup and Wells Fargo are in a battle to buy Wachovia. The winner will get a top slot in Florida's financial market.

HOTELS

Will Victoria's Secret models prance around Fontainebleau?

Heidi Klum and other models will strut down the catwalk as the annual Victoria's Secret lingerie show helps open the renovated Fontainebleau Hotel.

INVESTMENTS

Frozen fund ties up colleges' cash

(AP) -- An investment fund that serves about 1,000 colleges and private schools, including 16 in Florida, partially froze withdrawals this week amid the credit crunch, forcing colleges to develop new plans to pay bills.

BROWARD COUNTY

Tourism chief warns of a grim year ahead

Broward's tourism director said emergency measures could be needed to cope with a loss of tourism dollars, including tapping rainy-day fund.

$2 million ad blitz will tout Miami as global destination

Miami-Dade business leaders will unveil a $2 million advertising campaign Thursday to promote the county as a great place to do business.

ECONOMY

Credit crunch foils borrowing for Florida

The credit squeeze has had a minimal effect on Florida so far, but it has prevented the state from borrowing money, says a top state money manager.

PHARMACEUTICALS

Ruling could impede novice firms

The reversal of a $78 million court decision against a rival of AlphaMed pharmaceuticals firm could negatively affect start-ups statewide.

SOUTH FLORIDA ECONOMY

Ripple effects on 'main street'

Tighter credit and tougher times likely lie ahead as Congress rejected a historic bank bailout.

Mortgage crisis cuts both ways

A few years ago, mortgage broker Michelle Lapiana, below, lived the good life. Now she's in the same boat with others who are losing homes.