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Absence of EV tax credits affects auto sales

The loss of federal electric vehicle tax credits at the end of September resulted in flat sales of new vehicles in October, the Greater Cleveland Automobile Dealers’ Association reported this week. However, looking at year-to-date figures, dealers in the association’s 21-county area that includes Mahoning, Trumbull and Columbiana counties sold 195,069 new vehicles. The number represents an increase of 5.81% over 2024. “We expected a larger slide than what transpired last month and remain confident that new vehicle sales will remain on pace to close out 2025 with 3% to 5% growth ...

PNC Foundation powers efforts to remove local employment barriers

The PNC Foundation has approved a two-year, $100,000 workforce development grant to the Youngstown / Warren Regional Chamber to help strengthen the chamber’s efforts to remove barriers to employment and connect more Valley residents with job opportunities. The award, announced Thursday, brings the foundation’s total investment to $150,000 over three years “At PNC, we’re committed to helping communities thrive,” said Ted Schmidt, PNC regional president for Youngstown. “This investment builds on our ongoing partnership with the chamber to address the region’s workforce ...

The penny problem

NEW YORK — The United States is running out of pennies. President Donald Trump’s decision to stop producing the penny earlier this year is starting to have real implications for the nation’s commerce. Merchants in multiple regions of the country have run out of pennies and are unable to produce exact change. Meanwhile, banks are unable to order fresh pennies and are rationing pennies for their customers. One convenience store chain, Sheetz, got so desperate for pennies that it briefly ran a promotion offering a free soda to customers who bring in 100 pennies. Another retailer ...

What a rate cut means for your finances

NEW YORK — The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the second time since September. Before that, it had gone nine months without a cut. The federal funds rate is the rate at which banks borrow and lend to one another. While the rates consumers pay to borrow money aren’t directly linked to this rate, shifts affect what you pay for credit cards, auto loans, mortgages, and other financial products. “While the full economic impact of such a move will unfold over time, early indicators suggest that even modest rate cuts can have ...

Business briefs

ENGLEMAN PROMOTED: 7 17 Credit Union has announced that Shelley Engleman has been promoted to executive vice president and chief risk officer. In this role, Engleman will serve as 7 17’s second-in-command and sole executive vice president. Her appointment to this leadership position underscores 7 17 Credit Union’s continued commitment to balanced growth and strong executive oversight of risk operations. Engleman previously served as senior vice president of Risk Management. She has been with 7 17 for 37 years. Engleman holds a degree in Accounting and Business Administration ...

US Steel to invest $11B by 2028

NEW YORK (AP) — United States Steel on Tuesday detailed its billion-dollar multiyear growth plan with new owner Nippon Steel that includes modernizing the century-old steelmaker. The announcement comes just five months after Nippon Steel finalized a “historic partnership” with the Pittsburgh steelmaker in a deal worth nearly $15 billion. That deal included a “golden share” provision that gave the federal government the power to appoint a board member and a say in some company decisions.