Business Briefs: Doyle named Post-Gazette's chief revenue officer

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Doyle named Post-Gazette chief revenue officer

Chris Doyle has been named chief revenue officer for the Pittsburgh Post-Gazette, effective Monday. Mr. Doyle comes to the Post-Gazette most recently from his position as president and owner of Leadaloft in Naples, Fla. Prior to that, he was vice president of content for E.W. Scripps in Knoxville, Tenn., where he led division-wide strategies to identify and implement new revenue streams and local, social and mobile strategies. His experience also includes a position as president and publisher of the Naples News Media Group and Naples Daily News as well as vice president of advertising for the Naples Daily News prior to that.

Average cost of gasoline in Western Pa. drops

The cost of gasoline in Western Pennsylvania went down about two cents this week, hitting an average price of $3.626 per gallon. The average price for a comparable gallon nationwide was $3.432, according to GasBuddy.com.

Two PNC branches will merge in Mt. Lebanon

PNC Bank will close its branch at 291 Beverly Road in Mt. Lebanon and merge it with a branch about a mile away at 3149 Banksville Road on Feb. 22. An ATM will remain open at the site. The Beverly branch will be redesigned and reopen at a later date as an investment and retirement office. Customers with questions may call toll-free 1-888-255-9513.

EU approves acquisition of Irish firm by Eaton

Eaton Corp. said its acquisition of Dublin, Ireland-based Cooper Industries was approved by the European Union and regulatory officials in China. The Cleveland-based manufacturer of industrial products and systems has its electrical sector for the Americas headquartered in Moon. Shareholders of both companies previously approved the $11.5 billion deal, which is now subject to closing.

II-IV will buy product line from Calif.-based Oclaro

Saxonburg-based II-IV Inc. has agreed to purchase the thin film filter business and interleaver product line from Oclaro Inc. of San Jose, Calif., for $27 million. II-IV's new product line will join the company's Photop Technologies business unit.

Curtiss-Wright acquires Cimarron Energy

Curtiss-Wright Corp. announced Monday it had acquired Cimarron Energy Inc. for approximately $135.1 million in cash. Cimarron is an engineering firm that caters to the U.S. oil and gas industry and will become part of Curtiss-Wright's Flow Control segment. The Parsippany, N.J.-based Curtiss-Wright maintains several facilities across the country.

British regulator fines UBS in $2.3B fraud incident

Britain's financial regulator has fined UBS AG for failures which allowed a rogue trader to lose $2.3 billion in the country's biggest-ever fraud case at a bank. The Financial Services Authority said Monday that it was fining the Swiss-based bank 29.7 million pounds ($47.6 million) after finding serious weaknesses in procedures, management systems and internal controls in the London branch of UBS. Former UBS trader Kweku Adoboli, 32, was sentenced last week to seven years in prison after being convicted of two counts of fraud.

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