Business

NC unemployment rate lowest since 2008

December 22, 2014

(WRAL.com)

The state unemployment rate fell to 5.8% – the same as the national rate – in November, according to data released Friday by the N.C. Department of Commerce. Trade, transportation, utilities and manufacturing industries posted the biggest gains.

EPA coal-ash rules weaker than NC regulations

December 22, 2014

(WRAL.com)

The U.S. Environmental Protection Agency ruled on Friday it will regulate coal ash much in the same way it regulates regular household garbage. Environmentalists had wanted the byproduct of coal-fired power plants to be treated as hazardous waste and subject to stricter standards.

Raleigh apartments sell for record $76.8M

December 22, 2014

(The News & Observer, Raleigh)

A 282-unit apartment complex in Raleigh's Cameron Village has sold for $76.8 million, or $272,000 per unit. Crescent Cameron Village, which includes 19,000 square feet of retail, is part of a $700 million portfolio sale announced by Charlotte-based Crescent Communities in October. The buyer is Boston-based Berkshire Property Advisors.

BofA's Moynihan defends board's decision

December 22, 2014

(The Charlotte Observer)

Bank of America CEO Brian Moynihan defended the Charlotte-based lender's decision to name him chairman, despite calls from some large investors who have asked the bank to hold a shareholder vote on the bylaw change that allows its CEO to serve in dual roles.

Bank of the Carolinas shares fall 69%

December 22, 2014

(Winston-Salem Journal)

Bank of the Carolinas' share price fell 69% Friday, from 45 cents to 14 cents, though there was no public announcement or regulatory filing from the Mocksville-based bank to explain the drop.

NC must retool incentives program, corporate taxes to compete for jobs

December 22, 2014

(The Charlotte Observer)

North Carolina struggles to compete with other states, including neighbor South Carolina, in attracting new jobs. Lower taxes and larger incentive packages – in the case of Chinese textile company Keer Group, 10 times larger – helped lure some companies considering both states to South Carolina, according to documents obtained by The Charlotte Observer.

Campaign underway to increase solar projects in Western NC counties

December 22, 2014

(The Watauga Democrat)

A local effort is underway to install as many rooftop solar systems as possible in Ashe, Avery and Watauga counties before North Carolina's 35% renewable-energy tax credit expires Dec. 31, 2015. Clean Energy for Boone will offer subsidies of up to $1,500 to homeowners and businesses who participate in its program.

Report: Mercedes-Benz USA looking to move HQ to NC or Georgia

December 19, 2014

(The News & Observer, Raleigh)

Mercedes-Benz USA is considering moving its corporate headquarters to North Carolina or Georgia, according to a report in the Wall Street Journal. The automaker employs about 1,000 people at its headquarters in Montvale, N.J., where it has been based since 1972. 

Canadian chain to buy The Pantry for $860M

December 19, 2014

(The News & Observer, Raleigh)

Canada-based Alimentation Couche-Tard, which operates in the U.S. mostly as Circle K, will acquire The Pantry in a deal that, including The Pantry's debt, is valued at $1.7 billion. Cary-based Pantry operates 1,513 convenience stores – most under the Kangaroo Express banner – in 13 Southeastern states.

Durham's Phononic raises $44.5 million

December 19, 2014

(The News & Observer, Raleigh)

Durham-based Phononic raised $44.5 million in venture-capital funding. The company sells energy-efficient cooling and refrigeration products that are made in Durham. Phononic plans to use the proceeds to increase manufacturing and for sales and marketing. It's the largest round of venture-capital funding raised by a Triangle company this year.