Business briefs: Port Manatee to receive state money to update plans

May 16, 2014 

PORT MANATEE -- The Florida Department of Transportation has promised to give Port Manatee $150,000 to help it pay for a $300,000 update to its master plan.

The port authority's board of commissioners voted unanimously Thursday to enter into a joint participation agreement with FDOT. In return, the port has to come up with $150,000 on its own, and open its planning process to potential state review and audit.

The port may pay its share in cash, or may try to get it paid through a federal Tiger grant.

Last updated in 2009, the port's comprehensive plan covers about $750 million in potential capital projects and other work at the port. Port Manatee updates the plan every five years. The plan's scope is the coming 50 years.

According to the port's summary, the document's immediate focus is on projects related to the completion of an expanded Panama Canal later this year. One of those projects is to dredge the port's navigation channel and its shipping berths to accommodate larger, heavier ships.

Future projects include attracting more containerized shipping to the port, berth and container terminal expansions, environmental protection measures and road and railroad improvements.

The planned update is not intended to rewrite the 2009 plan. According to the joint participation agreement, the update will modify the plan to better address using land around the port to attract new port business. Changes will also include sections addressing harbor deepening and disposal of dredged material.

Adobe's Creative Cloud suffers lengthy outage

NEW YORK -- Adobe's Creative Cloud software subscription service has been inaccessible for the past day for the 1.8 million designers, Web developers and other creative professionals who pay to use it.

The outage is a black eye for Adobe Systems Inc., which shifted to the online subscription model for distributing its software a year ago. Creative Cloud makes Adobe's software products available through a monthly subscription that starts at $50 for an individual if they sign up for at least a year.

The maker of Photoshop, Illustrated and Acrobat says the outage is preventing users from logging in to its site with their Adobe IDs. Adobe says it is sorry for the delay and it is working to restore the service, although it has not said how long this would take.

Gold, jobless claims fall in rebounding economy

Gold futures on Thursday fell the most in a week as declining U.S. jobless claims signaled a rebounding economy, reducing demand for the metal as a haven.

The fewest Americans in seven years filed applications for unemployment benefits last week. Gold tumbled 28 percent

in 2013, the biggest annual decline since 1981, as equities rallied to a record and the economy gained.

Holdings in exchange-traded products backed by gold have dropped to the lowest since 2009. Some investors lost faith in the metal as a store of value after the Federal Reserve cut monetary stimulus.

Gold futures for June delivery fell 0.9 percent to settle at $1,293.60 an ounce at 1:49 p.m. on the Comex in New York, the biggest drop for a most-active contract since May 7. Trading was 7.8 percent higher than the 100-day average for this time, according to data compiled by Bloomberg.

Herald staff and wire reports

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