Business briefs: CareerSource Suncoast wins grant for youth program

BRADENTON -- CareerSource Suncoast won a $334,000 grant from CareerSource Florida to prepare students for work in Manatee and Sarasota counties.

The Journey to Success Youth Development Program is designed to provide year-round work readiness, leadership and career development. The program serves 120 high school seniors and out-of-school youth ages 18-24 through six career pathways during a two-year period. Participants will be trained to meet job demand in the region.

CareerSource Suncoast, in partnership with the Safe Children Coalition, will refer former foster care youth to the program. Other referrals including youthful offenders and youth with disabilities will be referred by the school districts of Manatee and Sarasota counties, Department of Juvenile Justice and outreach to community partners.

The total cost of the program is $649,374 with 48 percent, in-kind funds by CareerSource Suncoast, and $28,850 committed by CareerEdge Funders Collaborative.

New Allstate office opens in Bradenton

BRADENTON -- Ryan Braniger has opened an Allstate Insurance office at 4012 Cortez Road W.

Braniger's office opened Oct. 1 offering auto, property and life insurance. Insurance is also offered for motorcycles, boats, motor homes and recreational vehicles. Agency staff members can help customers choose the insurance coverage that best meets their needs.

S&P 500 falls to eight-week low

NEW YORK -- U.S. stocks declined Tuesday, with the Standard & Poor's 500 index slumping to an eight-week low, as the International Monetary Fund cut its growth forecast and warned of "frothy" equities amid signs of slowing growth in Europe.

The Russell 2000 index of small companies retreated 1.7 percent, the most since July 31, to bring its loss since a March record

to 11 percent. The Dow Jones transportation index plunged 2.5 percent Tuesday, capping a 3.6 percent drop in the past two days, the most since January. Auto stocks in the S&P 500 sank 3.4 percent to lead losses among all 24 industries.

The S&P 500 sank 1.5 percent to 1,935.09, the lowest level since Aug. 12. Tuesday's slide was the biggest in almost three weeks. Selling accelerated in afternoon trading as index futures contracts expiring in December slipped below 1,940, a level where two previous declines had ended earlier Tuesday.

The Dow Jones industrial average lost 272.52 points, or 1.6 percent, to 16,719.39, the biggest retreat since July 31, as all but one of the 30 stocks in the gauge dropped. The Chicago Board Options Exchange volatility index jumped 13 percent to 17.43 Tuesday, the highest since March 14.

-- Herald staff and wire reports