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Retail sales rose in February before the Iran war, which threatens to derail spending

NEW YORK (AP) — Shoppers increased their spending in February before gasoline prices spiked because of the attacks on Iran by the U.S. and Israel. Retail sales rose a better-than-expected 0.6% in February, from a revised 0.1% decline in January, the Commerce Department said Wednesday. Retail analysts say it was a strong showing given that inflation has rattled American households, but that the war in Iran may have dented the psyche of consumers with spending on gasoline racing higher over the past five weeks. “While the overall numbers are good and suggest a continued ...

Stark County-based Consumers National Bank announces location of new Boardman branch

Staff report Consumers National Bank, a community bank based in Minerva, will place its newest branch alongside a well-known Boardman banquet center. Consumers Bank announced last week in a news release that it had bought an outlot in Mr. Anthony’s Banquet Center’s parking lot, 7440 South Ave., for its Boardman facility. There will be no change to Mr. Anthony’s operations during or after construction, which is expected to begin later this year, Consumers Bank officials said. Consumers Bank purchased the approximately 1-acre parcel on Feb. 27 for $675,000 from Mr. ...

Spice maker McCormick to combine with Hellmann’s maker Unilever

NEW YORK (AP) — Spice and flavorings company McCormick announced on Tuesday that it’s combining with Unilever’s foods division, which includes brands like Hellmann’s and Knorr. The merger is the latest in a string of actions in the packaged food sector, as companies contend with inflation and changing consumer tastes. Last year, both Keurig Dr Pepper and Kraft Heinz announced plans to unwind huge mergers, although Kraft later put that plan on hold. Mars recently bought Cheez-It maker Kellanova while Nutella maker Ferrero bought WK Kellogg. The combined company will maintain ...

Founder of ‘orgasmic meditation’ company gets 9 years in prison in forced labor conspiracy

NEW YORK (AP) — The leader of a sex-focused women’s wellness company that promoted “orgasmic meditation” was sentenced Monday to nine years in federal prison for a scheme that a judge said exploited vulnerable women and coerced them into performing sex acts with the company’s clients and investors. Nicole Daedone, co-founder of OneTaste Inc., was also ordered to forfeit $12 million, and seven victims were awarded roughly $890,000 in restitution, federal prosecutors said. “Coercion disguised as wellness or empowerment is still exploitation and it is a crime that causes ...

Student loans headed to Treasury Department

NEW YORK (AP) — The Treasury Department will take over the management of student loans whose borrowers are in default, according to a new agreement announced Thursday. The U.S. Education Department’s handing off these student loans is the next step in President Donald Trump’s plans to ...

Should retirees take RMDs early in the year or wait?

Within a given year, is there any advantage to taking your required minimum distributions as soon as you can, or taking it down to the wire and pulling the distribution in late December? Or is it better to take monthly or quarterly withdrawals? Here are three timing approaches to consider, along with the pros and cons of each. Option 1: Wait until year-end Why consider it: It’s not a huge advantage over a lifetime of savings, but the main advantage of delaying until later in the year is a bit of extra tax-deferred compounding. Assume 75-year-old Anne’s IRA totaled $1 million ...