Business

German yarn-maker to open Mount Airy distribution center

July 8, 2014

(Winston-Salem Journal)

Südwolle Group will open an 18,000-square-foot distribution center in Mount Airy. The Nuremberg, Germany-based company makes wool yarns, including those for legwear and outdoor apparel. The company did not say how many jobs it will create, but will release more details later this month.

Chinese government OKs Lenovo deal to acquire IBM server unit

July 8, 2014

(WRAL TechWire)

The Chinese government has approved Lenovo's proposed $2.3 billion acquisition of IBM's x86 server unit. U.S. officials have expressed security concerns over the deal, which would affect 2,000 IBM Triangle workers.

UNCA submits three candidates for chancellor

July 8, 2014

(Asheville Citizen-Times)

UNC Asheville's Board of Trustees approved three candidates for the school's chancellor position, which will be vacated at the end of the month when Anne Ponder retires. UNC System President Tom Ross is expected to make his recommendation to the UNC Board of Governors, which could approve the new chancellor when it meets Aug.1.

Georgia-based BrandMortgage opens Charlotte office

July 8, 2014

(The Charlotte Observer)

BrandMortgage, a Lawrenceville, Ga.-based lender with 18 offices throughout the Southeast, has opened an office in Charlotte. Charlotte native Rebecca Madej will be team leader.

Teardowns common in Charlotte's older neighborhoods

July 7, 2014

(The Charlotte Observer)

Builders and homeowners are tearing down outdated homes in popular Charlotte neighborhoods and replacing them with larger ones. The teardowns reflect a nationwide trend of people wanting to live in established neighborhoods closer to downtown areas.

Cider production growing in Western NC

July 7, 2014

(Asheville Citizen-Times)

Some Western N.C. apple farmers are benefiting from a boom in cider production, which has increased almost 1,000% in the past few years. Cider makers are looking to expand in North Carolina, which is the seventh-largest apple-producing state in the U.S. 

Cooper appeals decision to let Aqua NC bypass public hearings

July 7, 2014

(The Winston-Salem Journal)

State Attorney General Roy Cooper appealed the N.C. Utilities Commission's decision to allow Aqua North Carolina to raise rates without first holding a public hearing. Aqua N.C. is the state's largest private water utility and serves 250,000 customers in 52 counties.

Conservationists oppose wood-pellet project at Port of Wilmington

July 7, 2014

(Greater Wilmington Business Journal)

Conservation organizations are questioning sustainability practices of a company that plans to build a wood-pellet storage center at Port of Wilmington. Baltimore-based Enviva is considering sites in Sampson and Richmond counties for wood-pellet plants. Products would stored in Wilmington, then shipped to Europe for use as fuel.

SunTrust agrees to $320 million settlement

July 7, 2014

(The Charlotte Observer)

Atlanta-based SunTrust Banks will pay up to $320 million to resolve a criminal investigation claiming it misled homeowners who applied for loan modifications under a federal bailout program between 2009 and 2010.

Section of High Point's Montlieu Ave. to close for HPU expansion

July 7, 2014

(High Point Enterprise)

A half-mile section of Montlieu Ave. in High Point will close to through traffic July 30 and will become an entrance for High Point University's new pharmacy and health sciences schools. School officials said earlier this year they would consider locating the schools outside of High Point if the city couldn't help accommodate the expansion.