Business

N.C. Rep. McGrady wants to revive coal ash commission

May 9, 2016

(The Charlotte Observer)

N.C. Rep. Chuck McGrady says he will introduce a bill to revive the Coal Ash Management Commission, created by the state legislature in 2014 to oversee state regulators then later disbanded following a January Supreme Court ruling over how members were appointed. McGrady, a Republican from Hendersonville, says the state Department of Environmental Quality needs oversight on decisions regarding cleanup of coal-ash ponds.

Ag tech accelerator launches at RTP

May 6, 2016

(The News & Observer, Raleigh)

A new accelerator that will provide seed funding, office space, labs and greenhouse space for agricultural tech startups opened on Thursday. The project has received $11.5 million in funding and expects to raise up to $30 million by year-end. The venture capital arm of Alexandria Venture Investments was the lead investor; Triangle-based Hatteras Ventures and Pappas Ventures also participated.

Bojangles' first-quarter results beat Wall Street expectations

May 6, 2016

(The Charlotte Observer)

Charlotte-based Bojangles' reported net income of 21 cents a share for the first quarter, higher than estimates of 18 cents a share. Sales of $127.7 million also topped analysts' estimates of $126.8 million. Nearly a year after its initial public offering, the chicken-and-biscuits chain says it has about 100 new restaurants approved or under construction.

FDA rules for e-cigarettes could spur lawsuits

May 6, 2016

(Winston-Salem Journal)

The FDA released new regulations for electronic cigarettes and vaporizers on Thursday that is likely to trigger lawsuits from manufacturers and vape shops. All e-cigs introduced after Feb. 15, 2007 must retroactively go through more stringent requirements, including providing more detail on liquid nicotine ingredients and manufacturing processes.

Mountaire Farms plans 500 jobs at Siler City chicken plant

May 6, 2016

(The News & Observer, Raleigh)

Delaware-based Mountaire Farms will acquire the former Townsend poultry processing plant in Siler City, which employed more than 1,000 people before shutting down in 2011. Mountaire plans to renovate the plant and says it will eventually create more than 500 jobs.

80s fashion brand Alexander Julian relaunching this fall

May 6, 2016

(The Charlotte Observer)

Designer Alexander Julian and his son, Huston, are bringing back his line of upscale menswear, with popup shops opening soon in Charlotte and Charleston, S.C. The Chapel Hill native designed the Charlotte Hornets' first basketball uniforms in 1988 and UNC Chapel Hill basketball uniforms in 1990.

115 businesses targeted in undercover video-gaming raid

May 6, 2016

(The Fayetteville Observer)

Undercover agents seized hundreds of illegal video-gaming machines, cocaine and more than $1 million in cash from businesses in Cumberland, Robeson, Scotland, Lee and Moore counties in a raid that targeted 115 locations across the state.

Blue Cross fines will be 'in the millions,' insurance commissioner says

May 5, 2016

(The News & Observer, Raleigh)

N.C. Insurance Commissioner Wayne Goodwin says technology-related problems at Blue Cross and Blue Shield are ongoing, and he called the insurer's response to the problems "unacceptable." Goodwin's agency has received 13,596 calls from disgruntled customers. He expects to report results of the commission's investigation on May 27.

Banks pay $324M to settle rate-rigging claims

May 5, 2016

(The Charlotte Observer)

Bank of America is among seven banks that agreed to pay $324 million to settle a case claiming they conspired to rig the ISDAfix benchmark, used in the sale of interest-rate derivatives. Investors who lost money contended that the banks used electronic chat rooms and other private communication to set the ISDAfix.

GSK selling RTP real-estate holdings

May 5, 2016

(The News & Observer, Raleigh)

GlaxoSmithKline plans to sell 1.8 million square feet of space the company owns in Research Triangle Park and lease back the three buildings it currently uses. The pharmaceutical giant employs about 2,600 in the Triangle, down from 5,000 a few years ago, and only occupies about 600,000 square feet. The company said the move doesn't mean it has plans to leave North Carolina.