Ribbon-cutting for Grey Boutique

October 4, 2017 at 12:00a.m.

BOARDMAN

The Youngstown/Warren Regional Chamber will have a ribbon-cutting ceremony at 10 a.m. Friday for Grey Boutique, 1393 Boardman-Canfield Road.

Grey Boutique is a women’s clothing store featuring unique styles ranging from XS to XL (some items vary), as well as gifting items and accessories.

Taxpayers might have to choose between deductions

WASHINGTON

Homeowners would be forced to choose between two popular tax deductions – one for local property taxes, the other for mortgage interest – under a potential compromise that House Republicans are considering as they craft the evolving tax revamp.

The nearly $6 trillion tax overhaul plan being pushed by President Donald Trump and Republican leaders in Congress promises to retain the deduction of mortgage interest from federal income taxes – a cherished tax break used by about 30 million Americans that supporters say is a catalyst to home ownership.

Republicans in high-tax states such as New York, New Jersey and California are balking at the proposal from Trump and GOP leaders to eliminate the federal deduction for state and local taxes, fearing the financial hit on their constituents.

Another Wells Fargo CEO faces an angry Congress

NEW YORK

A different Wells Fargo chief executive met a similar kind of anger from Congress on Tuesday, with politicians from both major parties saying they feel the bank has done little to change its culture since a scandal over its sales practices.

Tim Sloan appeared in front of the Senate Banking Committee in Washington, D.C., about a year since his predecessor did the same to try to explain how employees trying to meet ambitious sales goals created millions of accounts without customers knowing about or authorizing them.

Sloan apologized again and said the bank was committed to its customers. Some lawmakers weren’t in a forgiving mood. Sen. Heidi Heitkamp, a Democrat from North Dakota, expressed anger about the sales practices as well as a later auto-insurance scandal involving customers signed up for coverage they didn’t want.

Fiat Chrysler recalls 710K SUVs

DETROIT

Fiat Chrysler is recalling nearly 710,000 Jeep and Dodge SUVs in North America because an improperly installed brake shield could let water leak in and limit braking ability.

The recall covers 2011 to 2014 Jeep Grand Cherokees and Dodge Durangos.

The company says brake booster shields were added as part of a 2014 recall, but a check of warranty claims found that some weren’t installed correctly. In those cases, water can cause corrosion or get inside the booster and freeze. That can reduce braking ability, increasing the risk of a crash, according to documents filed with the U.S. National Highway Traffic Safety Administration.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .1248.290.64

Aqua America, .71 33.770.14

Avalon Holdings,2.030.07

Chemical Bank, .2752.960.22

Community Health Sys. 7.73 -0.10

Cortland Bancorp, .2818.25-0.06

Farmers Nat., .1615.600.10

First Energy, 1.44 31.020.17

Fifth/Third, .5227.910.04

FirstMerit Corp.,--

First Niles Financial, .1211.000.50

FNB Corp., .4814.02-0.09

General Motors, 1.5243.441.29

General Electric, .9224.800.23

Huntington Bank, .28 13.90-0.14

iHeartMedia Inc.,1.50-0.05

JP Morgan Chase, 1.9297.390.54

Key Corp, .3418.74-0.16

LaFarge, .34--

Macy’s, 1.51 21.050.16

Parker Hannifin, 2.52 176.880.72

PNC, 2.20134.20-0.92

Simon Prop. Grp., 6.60159.00-0.67

Stoneridge 21.490.90

United Comm. Fin., .12 9.740.03

Selected prices from Tuesday’s 4 p.m. close.