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Average national gas price hits $4 again, AAA reports

Staff report Gas prices are a penny higher in Northeast Ohio this week at $3.916 per gallon, according to Monday’s AAA East Central’s Gas Price Report. The national average for a gallon of regular gasoline has gone up 13 cents over the past week and is now at $4 per gallon. Instability along the Strait of Hormuz is contributing to the increase at the pump and pushing crude oil prices over $90 per barrel. Earlier this year, the national average remained in the $4 range all of April and May and most of June. Last time the national average was $4 or above was on June 17 when it ...

Judge names receiver to oversee Schwebel’s

The specialist hired in March by Schwebel Baking Co. to restructure the faltering venture was appointed Monday to wind down operations of the baked goods business. U.S. District Judge John R. Adams named Jacen Dinoff as receiver in response to Spectrum Commercial Finance’s emergency motion filed July 15. The founder and owner of KCP Advisory Group in Boston, Dinoff served as Schwebel’s chief restructuring officer. Last week, the Bloomington, Minnesota, commercial lender sought to enforce a forbearance agreement after Schwebel’s defaulted on a scheduled payment. The lender sued ...

Judge says Paramount and Warner must halt merger for at least two weeks

NEW YORK (AP) — A federal judge on Monday ordered Paramount and Warner Bros. Discovery to halt their $81 billion merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court. Twelve states, led by California, sued to block Paramount’s pending buyout of Warner last week — alleging that such a combination would “extinguish competition” in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers across the U.S. The states’ top prosecutors called on Warner and Paramount to not ...

Joseph Rossi Funeral Home marks 100-year milestone

NILES — Joseph Rossi Funeral Home is marking a special milestone this year of providing 100 years of funeral and memorial services. Joseph F. Rossi Jr. and sons Joseph F. III and Thomas are owners of the family business located on Robbins Avenue. Joseph Jr. said the business was started ...

You just retired. Now what?

If there’s one group likely to be experiencing the most consternation over inflation and economic uncertainty, it’s those who have just retired or are about to. To make it through this period with their sanity intact, they should focus on what they can control. Assess spending rate/strong> People who have just retired or are about to are particularly vulnerable to sequence-of-returns risk, which means that a bad market shows up early in your retirement. Not only does that early retirement sell-off feel bad, it actually is bad because it imperils your portfolio’s ability to last ...

Banks rake in big profits as both Wall Street and the US consumer stay strong

WASHINGTON (AP) — Five of the biggest U.S. banks reported record profits on Tuesday, boosted by their trading desks and a remarkably resilient American consumer amid persistent global economic uncertainty. It marks the second straight quarter of strong results from the banks, which have benefited from market volatility since the Iran war began in late February. Both consumer-facing and market-focused banks reported revenue and profit growth that beat even the most optimistic Wall Street expectations. The KBW Nasdaq Bank Index, which tracks the performance of two dozen banks rose ...