BUSINESS DIGEST || Christopher’s Downtown to close, reopen with new name

Christopher’s to get new look, name, menu

YOUNGSTOWN

Christopher’s Downtown, located at 100 E. Federal St. in the lower level of City Centre One Building, will close the week of June 20 and reopen June 27 with a new menu, look and name: Christopher’s at the End of the Tunnel.

Acquiring Bowers

CANFIELD

The Farmers National Bank of Canfield has completed the acquisition of the Bowers Insurance Agency Inc.

The transaction closed Wednesday and is expected to be accretive to earnings immediately. The Bowers Group will continue to operate under its name from its current location in Cortland, but it is expected to merge with Farmers National Insurance, LLC, Farmers’ wholly owned insurance agency subsidiary.

The strategic acquisition is expected to enhance Farmers’ current company and product lineup, and offer broader options of commercial, farm, home and auto property/casualty insurance carriers to meet all the needs of all Farmers’ customers.

Judge dismisses lawsuit against fracking opponents

BUTLER, PA.

A judge has again dismissed a lawsuit that landowners filed against people and groups who oppose fracking in a western Pennsylvania township.

Natural-gas drilling has been delayed in Middlesex, Butler County while some of the rural community’s 800 residents challenge a zoning ordinance that would allow drilling in 90 percent of the township.

Dewey Homes and Investment Properties and 12 landowners sued the drilling opponents, seeking damages for royalties they’ve been unable to collect from gas-drilling companies who have leases to drill on their land.

A Butler County judge dismissed the lawsuit in September, but allowed the landowners to file an amended complaint, which he struck down Tuesday.

Pizza Hut to slice out more ingredients

NEW YORK

Pizza Hut said it will remove more artificial ingredients from its pizza pies in the next year at its U.S. restaurants. The company already removed artificial flavors and colors from its pizzas last year.

Pizza Hut, which has about 6,400 U.S. restaurants, said the preservatives BHA and BHT will be removed from all its meat by next month. Artificial preservatives in cheese will be cut by next year. Chicken used as pizza topping will be free of human antibiotics by March. Its chicken wings, however, still will be raised with the antibiotics, a spokesman said.

Uber gets funding

SAN FRANCISCO

Uber said Wednesday it is getting a massive cash infusion from Saudi Arabia.

The oil-rich nation’s sovereign investment fund is putting $3.5 billion into the global transportation company, and will get a seat on Uber’s board of directors.

Funding for new tech companies has been slowing down in recent months amid concerns that many startups have been over-valued. But San Francisco-based Uber has been able to raise billions of dollars as it pursues ambitious plans to expand around the world.

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .129.30.02

Aqua America, .71 32.83 .52

Avalon Holdings,2.11.01

Cortland Bancorp, .2816.20.20

Farmers Nat., .129.37 —.09

First Energy, 1.44 33.07.26

Fifth/Third, .5219.02.15

FirstMerit Corp., .6822.76 .08

First Niles Financial, .209.00.00

FNB Corp., .4813.43.04

General Motors, 1.5230.21—1.07

General Electric, .9230.10—.12

Huntington Bank, .28 10.51.06

iHeartMedia Inc.,1.00 .08

JP Morgan Chase, 1.7665.69.42

Key Corp, .3012.89.07

LaFarge, .3417.57 .00

Macy’s, 1.44 33.04—.17

Parker Hannifin, 2.52 115.42.58

PNC, 2.0489.76.02

Simon Prop. Grp., 6.40198.24.60

Stoneridge 16.36 —.05

Talmer Bank, .20 20.11.17

United Comm. Fin., .10 6.04—.05

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