Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Wabtec acquires manufacturer of electrical protection products

Wabtec Corp. said it bought Relay Monitoring Systems, an Australian manufacturer of electric protection and control products used in energy and rail systems worldwide. The Wilmerding-based company said in announcement that RMS has annual sales of about $15 million and operations in Asia and the Middle East.

Federated completes acquisition of money market funds

Federated Investors completed the acquisition of about $930 million in assets from two money market funds previously managed by Huntington Asset Advisors. Downtown-based Federated managed $246.9 billion in money market assets as of Sept. 30.

Japan regulator recommends record $60 million Toshiba fine

Japan's Securities and Exchange Surveillance Commission recommended fining Toshiba Corp., about 7.37 billion yen ($60 million) for falsifying earnings, the largest financial penalty ever sought by the watchdog. The parent company of Cranberry-based Westinghouse Electric promised a restructuring plan this month. Toshiba misled investors by filing false financial statements for several periods including 2012 and 2013, according to the regulator. The company will detail a restructuring plan by Dec. 31 and won't pay earnings-linked bonuses to executives for the year ended March 2015, he added. Toshiba, which makes nuclear power plants, semiconductors, washing machines, TVs and laptop computers, also faces lawsuits from shareholders.

AB InBev CEO to defend SAB Miller deal before Congress

Anheuser-Busch InBev NV CEO Carlos Brito will try to ease concerns of U.S. lawmakers about the brewer's proposed $110 billion acquisition of SAB Miller Plc, which would create an entity accounting for about half the industry's profit and almost a third of all beer sold worldwide. …

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