BUSINESS DIGEST ||

Down goes diner; up goes Valvoline

BOARDMAN

Kutlick Realty LLC has leased the former Classic Park Diner parcel on U.S. Route 224 and South Avenue to Valvoline Instant Oil Change.

The restaurant has been demolished and Valvoline has started construction of a new building. It expects to open during the first quarter of 2017.

“This is just one of the multiple properties on U.S. 224 in Boardman that has been recently demolished and repurposed for a strong viable use,” said Bill Kutlick, owner of Kutlick Realty.

Net income rises for F.N.B. Corp.

PITTSBURGH

F.N.B. Corp. of Pittsburgh reported earnings for the third quarter of 2016 with net income available to common stockholders of $50.2 million, or $0.24 per diluted common share.

Comparatively, second quarter 2016 net income available to common stockholders totaled $39.3 million, or $0.19 per share, including $0.03 per share in merger expense, and third quarter 2015 net income available to common stockholders totaled $38.0 million, or $0.22 per share.

Public still skeptical of self-driving cars

LOS ANGELES

California regulators asked the public Wednesday to critique proposed regulations that would — eventually — allow self-driving cars that lack a steering wheel or pedals on public roads.

The message: The regulations still need a lot of work.

In a workshop at the Capitol, the state’s Department of Motor Vehicles heard criticism from companies developing the cars of the future, as well as skeptics who worry the government is being pushed into a hasty embrace of imperfect technology.

Self-driving cars are still prototypes, and California’s roads and highways are their real-world testing grounds. The most aggressive developers suggest the technology could be ready for market within a year or two.

US banks urged to boost cyber defense

WASHINGTON

Federal regulators are looking to set up new standards for big banks’ planning and testing for possible cyberattacks. The aim is to bolster the banking industry’s defenses amid concern over periodic security breaches at U.S. banks.

The move announced Wednesday by the Federal Reserve, the Federal Deposit Insurance Corp. and a Treasury Department banking agency is designed to get banks’ senior executives and directors to pay closer attention to cybersecurity, agency officials said.

Fed Chair Janet Yellen has said that cybercrime is a “very significant threat.”

The proposal, open to public comment for three months, would apply to banks with $50 billion or more in assets. That would affect several dozen major banks and a few big insurance companies, all deemed to be so interconnected with the financial system that a cyberattack against one of them could shake the system’s stability.

Staff and wire reports