Business

Reynolds, Lorillard confirm merger talks

July 14, 2014

(Winston-Salem Journal)

After months of speculation, Reynolds American and Lorillard confirmed they are negotiating a potential acquisition of Lorillard by Reynolds. U.K.-based Imperial Tobacco Group also is in talks with the companies to buy some of their non-growth brands.

Merger approved for New Century, Select Bank

July 14, 2014

(The News & Observer, Raleigh)

State and federal regulators approved a merger between Dunn-based New Century Bancorp and Greenville-based Select Bank & Trust. The merger is expected to close on July 25. The combined bank will have 14 branches and will operate as Select Bank.

FedEx to build $41 million distribution center in Concord

July 14, 2014

(The Independent Tribune, Concord)

FedEx will invest $41 million in a 330,780-square-foot distribution center in Concord, where it plans to employ 59 full-time and 462 part-time workers by the end of 2019. Some employees will be transferred from the company's current operation in Charlotte.

PSNC Energy plans Triangle pipeline extension

July 14, 2014

(The News & Observer, Raleigh)

Gastonia-based PSNC Energy is considering a pipeline extension to meet increased demand for natural gas in Franklin and Wake counties. Construction on the pipeline, which is expected to cost $35 million to $45 million, would begin in 2016 or 2017.

Davie, Yadkin residents organize against fracking

July 14, 2014

(Winston-Salem Journal)

A grassroots effort against fracking for natural gas is underway in Davie and Yadkin counties after state Sen. Andrew Brock proposed an amendment to the state Senate's budget proposal that would provide funds for test drilling in the Davie County shale basin.

 

Charlotte's Food Babe has followers, critics

July 14, 2014

(The Charlotte Observer)

Charlotte-based food blogger Vani Hari has gained national attention for her online campaigns against food companies, but some question the validity of her claims and criticize her for taking more credit than she deserves in influencing companies to make changes to their products.

Family Dollar to make changes after profits fall

July 11, 2014

(The Charlotte Observer)

Profits at Family Dollar fell 33% in its third quarter compared with the same period a year ago, the Matthews-based company reported Thursday. The discount retailer plans to begin selling alcohol and expand its selection of frozen- and refrigerated-food items.

Duke LifePoint to buy MedWest Haywood hospital

July 11, 2014

(Asheville Citizen-Times)

Duke LifePoint Healthcare will purchase MedWest Haywood in Clyde for $26 million. The Brentwood, Tenn.-based company plans to invest $36 million in capital improvements at the 169-bed hospital over the next 10 years. If the county approves the deal, the sale could close on July 31.

New music venue coming to Greensboro

July 11, 2014

(News & Record, Greensboro)

A concert venue affiliated with House of Blues Entertainment and Live Nation will open in Greensboro in November.  The name of the club, which will accommodate up to 850 guests, has not been announced.  

Lenovo still leads in PC shipments

July 11, 2014

(The News & Observer, Raleigh)

PC shipments rose 15.1% in the first quarter for Beijing-based Lenovo, which has its North American headquarters in Morrisville. The company maintained its position as the world's No. 1 PC-maker with a 19.2% market share. Competitor HP claimed 17.7% of the market.