Business

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.

Raleigh's INC Research posts strong 2Q results

July 31, 2015

(The News & Observer, Raleigh)

INC Research reported net income of $28.6 million for the second quarter, up from $11.1 million a year ago. The Raleigh-based contract-research organization raised its guidance for the year and projects annual revenue of $900 million to $910 million. Shares rose 10% Thursday following the report, closing at $47.62.

Hanesbrands reports sixth consecutive quarter of record revenue

July 31, 2015

(Winston-Salem Journal)

Hanesbrands reported $94.9 million in net income for the second quarter, compared with $154.6 million a year ago. The decrease was due to costs related to acquisitions of DBApparel and Knights Apparel. Revenue increased 13.4% to a record $1.52 billion. International sales were up 101.2%.

Federal judge dismisses Herbalife suit

July 31, 2015

(Winston-Salem Journal)

A U.S. District Judge in Los Angeles threw out a lawsuit against Herbalife, the nutritional products manufacturer that plans to employ 800 people in Winston-Salem by 2018. The Oklahoma Firefighters Pension and Retirement System and other shareholders had sued the company, claiming they lost money after Herbalife was accused in 2012 of operating a pyramid scheme.

Former GSK employees face layoffs at RTP

July 30, 2015

(WRAL TechWire)

Reports indicate up to 200 Parexel employees were laid off Wednesday, though the company would not confirm the cuts. The workers are former employees of GlaxoSmithKline, which said it in February it planned to transfer some of its workforce to the Boston-based life-sciences company.
Related: GSK shares rise after earnings beat estimates

Hanesbrands data breach affects 900,000

July 30, 2015

(Winston-Salem Journal)

Hanesbrands said about 900,000 online and telephone customers were affected by a data breach in June. A company spokesman said hackers accessed data including addresses, phone numbers and the last four digits of credit card numbers.

Red Ventures leases new space in Charlotte

July 30, 2015

(The Charlotte Observer)

Red Ventures has leased 97,599 square feet in the University area of Charlotte.The Indian Land, S.C.-based marketing company employs 400 at a nearby Charlotte location. The company announced earlier this month plans to hire 500 sales agents this summer; 40% of the jobs are expected to be in Charlotte.

Mergers boost 2Q results for First Citizens

July 30, 2015

(The News & Observer, Raleigh)

First Citizens BancShares reported a 67% increase in net income in the second quarter, from $26.7 million to $44.5 million. The Raleigh-based bank attributed the improved earnings to its acquisitions of South Carolina-based First Citizens Bancorporation and Trust and Atlanta-based Capitol City Bank and Trust.

All of NC meets air-quality standards

July 30, 2015

(The Charlotte Observer)

The entire state of North Carolina now meets federal air-quality standards for the first time since 1997. The EPA said Tuesday that Charlotte had met ozone standards – the last metro area in the state to do so. As a result, gas prices in the area are expected to drop.