Business

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

BioCryst shares slump after failed drug trial

February 9, 2016

(The News & Observer, Raleigh)

Shares fell 71% Monday after Durham drug developer BioCryst Pharmaceuticals reported that its experimental treatment for a rare genetic disorder failed to help patients in a clinical trial.

SC energy company says it can power western NC

February 8, 2016

(Asheville Citizen-Times)

Columbia Energy says it can provide Duke Energy Progress with 523 megawatts of power produced at its Gaston, S.C.-based plant, a deal the South Carolina company says would lead to cheaper power bills for western N.C. residents than Duke's proposed natural-gas plants in Asheville.

Truslow to become CFO of Charlotte's Park Sterling

February 8, 2016

(The Charlotte Observer)

Don Truslow, former chief risk officer at Wachovia until his retirement from the company in 2008, will become chief financial officer of Park Sterling Bank, replacing David Gaines, who is leaving at the end of March. Truslow most recently was a senior adviser at Deloitte & Touche.

Mark Cuban bets on Southern Pines retailer

February 8, 2016

(The Pilot, Southern Pines)

R. Riveter, a Southern Pines-based handbag company started by two military wives, snagged a $100,000 investment from Texas billionaire Mark Cuban on ABC's Shark Tank. The national TV exposure alone could boost business for the small retailer: Producers told the company to expect 100,000 website hits when the show aired Friday.

Nationwide drops Durham ad agency

February 8, 2016

(The News & Observer, Raleigh)

Nationwide has dropped Durham-based McKinney after a seven-year partnership. McKinney CEO Brad Brinegar said losing the Ohio-based insurer — one of the ad agency's larger clients — will trigger some layoffs though he said it's too early to say how many jobs will be impacted.

HanesBrands' dive an omen for Panthers' loss?

February 8, 2016

The Panthers weren't the only iconic Tar Heel company to have a bad weekend. HanesBrands shares declined 15% on Friday after the company's earnings and sales missed expectations. Executives blamed warm weather for stunting apparel sales.

DOT: Work on Charlotte's Independence could resume in March

February 8, 2016

(The Charlotte Observer)

Construction to widen Charlotte's Independence Boulevard could resume by the end of March, according to the N.C. Department of Tranportation. Michigan-based contractor DeVere stopped working on the project last week due to a financial dispute with the state.

Tony Zeiss, president of CPCC, to retire

February 5, 2016

(The Charlotte Observer)

Longtime Central Piedmont Community College President Tony Zeiss said Thursday he will retire in July. Zeiss, 70, has led the Charlotte college since 1992. During his tenure, enrollment soared to 70,000 students and the school grew from one campus to six.

Amazon rolls out one-hour delivery service in Raleigh

February 5, 2016

(The News & Observer, Raleigh)

For just $7.99, Amazon Prime members in Raleigh can have their orders delivered within an hour; two-hour delivery is free. Raleigh is among 25 cities where the e-commerce retailer now offers the expedited service. The Prime loyalty program costs $99 a year.