Business

Duke Energy begins coal-ash removal at Charlotte power plant

May 22, 2015

(Winston-Salem Journal)

Duke Energy began removing coal-ash from its Riverbend power plant west of Charlotte on Thursday. The utility is working to get permits to move most of the first 1 million tons of ash to clay mines in Chatham and Lee counties; meanwhile, the first truckloads will be sent to a lined landfill in Homer, Ga.

Mohawk to expand, add 105 jobs in Rockingham County

May 22, 2015

(Winston-Salem Journal)

Carpet and rug manufacturer Mohawk Industries plans to invest $8 million over five years in an expansion of its Eden operations. The company employs about 1,200 people across the state, including more than 170 in Eden.

Medicaid director named chancellor of UNC Pembroke

May 22, 2015

(The News & Observer, Raleigh)

Robin Cummings will become chancellor of UNC Pembroke in July. Cummings, the state Medicaid director and a cardiothoracic surgeon, will succeed Kyle Carter, who is retiring after five years in the post.

Family Dollar deal to close in July

May 22, 2015

(The Charlotte Observer)

Dollar Tree will complete its pending acquisition of Matthews-based Family Dollar Stores in early July. The Chesapeake, Va.-based discount retailer said it plans to close about 330 Family Dollar stores in order to receive Federal Trade Commission approval for the $8.5 billion deal.

Company led by Vertex Rail CEO files for bankruptcy

May 22, 2015

(Greater Wilmington Business Journal)

A Massachusetts-based company led by Vertex Rail CEO Don Croteau filed for bankruptcy earlier this month. Vertex Fab & Design designs and makes components for NASA and companies such as GE Hitachi. Vertex Rail announced last year it will create 1,300 jobs in a rail-car manufacturing facility in Wilmington.

Former Duke Energy CEO chides legislators for stance on green energy

May 22, 2015

(The Charlotte Observer)

At an energy summit in Charlotte on Thursday, former Duke Energy CEO Jim Rogers criticized state legislators over a proposal to freeze a state standard that requires utilities to purchase increasing amounts of renewable energy by 2021.

Lenovo reports fourth-quarter results

May 22, 2015

(The News & Observer, Raleigh)

Revenue for computer-maker Lenovo rose 21% in the fourth quarter to $11.3 billion, a figure that would have been higher if not for currency fluctuations. Fourth-quarter net income fell 37% to $100 million, but still beat analysts' expectations of $91.6 million.

Charlotte No. 3 in population growth

May 21, 2015

(The Charlotte Observer)

New census estimates show Charlotte's population grew 2% between 2013 and 2014, reaching 809,958. It was the third-fastest growing big city between 2010 and last year, behind Austin, Texas and New Orleans, with a growth rate of 10.7%. Raleigh's population grew 8.9% during the same time period.
Related: Rolesvile has become NC's new boomtown

Ashley Furniture adding up to 300 jobs in Davie County

May 21, 2015

(Winston-Salem Journal)

Citing increased product demand, Ashley Furniture Industries plans to expand its manufacturing and distribution center in Advance and will hire up to 300 employees. The furniture company currently employs about 900 at the center.

Bank of America fined $205 million

May 21, 2015

(The Charlotte Observer)

The Federal Reserve on Wednesday imposed massive fines against six banks, including Charlotte-based Bank of America. Bank of America must pay $205 million in fines related to foreign-trading practices from 2008 to 2013. A bank spokesman said the fines will be covered with existing reserves.