Business

PLS Logistics Services opens Charlotte office

January 20, 2016

(The Charlotte Observer)

The Pennsylvania-based company plans to employ about 200 people in Charlotte over the next several years. PLS provides supply-chain management and brokerage services for the shipping industry.

Smokies, Parkway top national attractions

January 19, 2016

(Asheville Citizen-Times)

More than 15 million people visited the Blue Ridge Parkway in 2015, a 7% increase over the year before. The 469-mile parkway, which stretches from Cherokee to Shenandoah, Va., was the National Park Service's most visited attraction while the Great Smoky Mountains was the most visited national park with 10.7 million visitors, a park record.

Avian flu scare appears to be over in NC

January 19, 2016

(The News & Observer, Raleigh)

The state has lifted a ban on public bird shows and sales as fears of an anticipated outbreak of the avian flu have abated. The virus, which killed 49 million chickens and turkeys in the Midwest, never emerged in North Carolina, though officials say the threat will never go away and measures farms have taken to prevent the virus will become standard procedure.

Lowe's exits venture with Australia's Woolworth's

January 19, 2016

(Bloomberg Business)

Lowe's is bailing out of an unprofitable joint venture with Australia-based Woolworth's Ltd. after six years of struggling to compete in the market. The Mooresville-based company owns 33% of the venture, which operates more than 60 home-improvement stores in Australia under the Masters and Home Timber & Hardware brands.

Critics of federal crowdfunding law say NC needs to develop its own

January 19, 2016

(The News & Observer, Raleigh)

A new federal law says startups and small business can raise up to $1 million a year from average investors. Some advocates of the practice say North Carolina needs to develop its own crowdfunding laws. A bill that failed during last year's legislative session would increase the cap to $2 million a year.

Big projects on the agenda for Charlotte City Council

January 19, 2016

(Charlotte Agenda)

Charlotte City Council could vote on several big development projects at Tuesday's meeting, including rezoning a 27-acre parcel near SouthPark mall to allow for a project that would replace an aging apartment complex with 1,100 homes, more than 500,000 square feet of office and retail space and 300 hotel rooms.

Environmental groups wary of Duke's plans

January 18, 2016

(Asheville Citizen-Times)

Duke Energy Progress filed plans on Friday for two proposed natural-gas power plants to replace its coal-fired one near Asheville. Some environmental groups are concerned the public won't have enough time to review plans for the $1.1 billion project: Duke has asked the state utilities commission to approve the project by March 1.

Wal-Mart to close 17 stores in North Carolina

January 18, 2016

(The Charlotte Observer)

Retailer Wal-Mart said Friday it is closing 269 stores globally, including 154 stores in the United States and 17 in North Carolina. The Bentonville, Ark.-based chain will shutter all of its Express small-format stores. A complete list of store closings can be found here.

WRAL switches network affiliation to NBC

January 18, 2016

(WRAL.com)

After 30 years as a CBS affiliate, WRAL in Raleigh is changing to NBC on Feb. 29. "As the industry continues to change, we believe this switch to NBC positions us well for the future," Jim Goodmon, president of WRAL parent Capitol Broadcasting, said in a statement. WNCN will become a CBS affiliate for the Triangle area.

Wells Fargo now third-largest U.S. bank

January 18, 2016

(The Charlotte Observer)

Wells Fargo has overtaken New York-based Citigroup as the third largest U.S. bank by assets. The San Francisco-based bank reported $1.79 trillion in assets, a 6% increase. JPMorgan Chase still holds the top spot with $2.35 trillion. Bank of America, which had assets totaling $2.15 trillion at the end of September, will report an update on Tuesday.
Also: Wells Fargo earnings dampened by losses on oil and gas loans