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CARMICHAELS, Pa. (AP) _ CB Financial Services Inc. (CBFV) reported net income of $118,000 in its second quarter on Thursday. The Carmichaels, Pennsylvania-based bank said it had earnings of 2 cents a share. Earnings, adjusted for non-recurring costs, came in at 5 cents per share. The Pennsylvania-based Community Bank holding company posted revenue of $13.1 million during the period. Its net interest expense income was $12.3 million, beating Street forecasts. Shares of CB Financial Services are down 2.5% year-to-date. In the final minutes of trading on Thursday, the stock hit $23.48, up about 2% over the past 12 months. _____…

Michael R Strain is director of economic policy studies at the American Enterprise Institute Although the price of oil has fallen in recent weeks, it is still going through the roof, seeping into gas prices and causing economic and political challenges in the US, UK and Europe. An increase in Russian supply would lower prices, but the revenue from those additional sales would feed President Vladimir Putin’s war machine. Adding to the problem is a new round of European sanctions that will target Russian oil imports later this year. Such sanctions could further increase prices, potentially triggering a global recession….

Deutsche Bank’s fixed-income traders helped propel its investment bank to an 11% rise in the second quarter, even as the bank posted sharp falls in trading fees. The German lender posted revenue of €2.6bn at its investment bank in the three months to the end of June, which beat analysts’ expectations and rose 11%. €2.4 billion in fixed income trading revenue rose 32% in the period and ahead of market predictions. The bank said revenue within its rates, foreign exchange and emerging markets business units more than doubled from a year earlier, offsetting declines in credit trading. However, Deutsche Bank…

Payments giant PayPal has finally attracted an activist. PayPal had been a pandemic darling as households increasingly shopped online, but shares have fallen more than 60% this year as people returned to their pre-pandemic spending habits. Earlier this year, the company cut its earnings forecast for 2022, prompting the company’s worst one-day selloff in its history as a publicly traded company. That steep decline over the past year, which saw PayPal go from a $350 billion company at its peak to one valued at about $89 billion, had investors wondering whether an activist would call the payment company’s door. Elliott…

Michael R Strain is director of economic policy studies at the American Enterprise Institute Although the price of oil has fallen in recent weeks, it is still going through the roof, seeping into gas prices and causing economic and political challenges in the US, UK and Europe. An increase in Russian supply would lower prices, but the revenue from those additional sales would feed President Vladimir Putin’s war machine. Adding to the problem is a new round of European sanctions that will target Russian oil imports later this year. Such sanctions could further increase prices, potentially triggering a global recession….