Business

Parexel laying off 125 in Durham

August 3, 2015

(The News & Observer, Raleigh)

In a notice filed with the N.C. Commerce Department, Parexel confirmed it plans to lay off 125 workers in Durham. The contract-research organization said in June it was laying off about 5% of its global workforce.

Scotland County works to attract new industry

August 3, 2015

(The News & Observer, Raleigh)

Business owners in Scotland County, which had the second-highest unemployment rate in the state in June, are offering incentives such as free gas, haircuts and country-club memberships to recruit new industry. The county has struggled to recover economically as manufacturers including Abbott Laboratories and WestPoint Stevens have shut down factories, laying off thousands of workers.

Fletcher kayak-maker lays off 25 as result of merger

August 3, 2015

(Asheville Citizen-Times)

Almost half the employees of Fletcher-based Legacy Paddlesports lost their jobs last week as the company announced it was merging with Hurricane Kayaks of Warsaw. Legacy, which recently has experienced slumping sales, invested $4.5 million in the Henderson County plant after moving headquarters from Greensboro in 2012 ("Back paddle," July 2013).

Charlotte developer Crosland dies at 86

August 3, 2015

(The Charlotte Observer)

Prominent Charlotte real-estate developer John Crosland Jr. died Sunday after a long battle with Parkinson's disease.

Durham ranked ninth-best city for creative people

August 3, 2015

(WRAL TechWire)

A thriving music scene and premier performing arts center helped Durham earn the No. 9 spot on SmartAsset's latest list of "Best Cities for Creatives."

BofA to hold special vote on chairman issue

August 3, 2015

(The Charlotte Observer)

Bank of America will hold a special meeting for shareholders to weigh in on its decision to make CEO Brian Moynihan chairman. A date for the vote has not been determined.
Related: Latest BofA shakeup means fewer top execs in Charlotte

High Point drug developer raises $117M in IPO

July 31, 2015

(Xconomy.com)

High Point-based vTv Therapeutics raised $117 million in its initial public offering. The company plans to use up to $80 million of the proceeds for a Phase 3 clinical trial of its treatment for Alzheimer's disease. vTv stock opened Thursday at $14 a share and fell 28.6%, closing at $10.71.

Beer industry contributes $3.8B to NC economy

July 31, 2015

(WRAL.com)

North Carolina's beer industry has a $3.8 billion impact on the state's economy, according to a report from the Beer Institute and National Beer Wholesalers Association. The study shows the industry is responsible for more than 26,000 direct jobs, including brewers, distributors and retailers.

Steep rents driving out downtown Raleigh businesses

July 31, 2015

(WRAL.com)

As apartment and condo construction booms in downtown Raleigh, many business owners say they can't afford increasing monthly rents. Natty Greene's Pub and Brewing Co. and Trig Modern furniture store are among the casualties.

Wilmington film festival adding startup conference

July 31, 2015

(Greater Wilmington Business Journal)

Wilmington's Cucalorus Film Festival will expand to include a business conference that will highlight the area's entrepreneurs. The festival is partnering with UNC Wilmington's Center for Innovation and Entrepreneurship and other local groups to add workshops, speakers and more. The 20-year-old festival will be held Nov. 10-15.