Business

Lenovo quarterly profits exceed expectations

August 15, 2014

(The News & Observer, Raleigh)

Lenovo posted a 23% increase in profit in its fiscal first quarter ended in June, led by gains in the smartphone and PC markets. The Beijing-based computer maker employs about 2,200 at its North American headquarters in Morrisville.

Conspirator sentenced to prison for involvement in real-estate scheme

August 15, 2014

(Asheville Citizen-Times)

Andrew Quinn Hager was sentenced to eight months in prison for his involvement in the failed Seven Falls development in Henderson County. Hager pleaded guilty in March 2013 to conspiracy to commit bank fraud. 

BofA could write off portion of DOJ settlement

August 15, 2014

(The Charlotte Observer)

Billions of dollars of Bank of America's expected $16 billion settlement with the Department of Justice over faulty mortgage bonds could be tax-deductible.

Durham's BioCryst receives $4.1 million to develop Ebola treatment

August 14, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals was awarded $4.1 million to develop a treatment for the Ebola virus. The funds are part of a 5-year, $22 million federal research contract the Durham company was granted for a drug it is developing to treat Marburg, a related virus.

Drone maker wants to bring 200 jobs to Winston-Salem

August 14, 2014

(Winston-Salem Journal)

A company that develops unmanned aircraft for use by emergency responders and law enforcement officials wants to locate its headquarters and research and development operations in the Triad. It would create about 200 high-technology jobs in its first phase. Olaeris has asked the state Commerce Department to invest $6 million in its products rather than provide traditional incentives.

Cisco to lay off 6,000 workers

August 14, 2014

(The News & Observer, Raleigh)

San Jose, Calif.-based Cisco Systems will lay off 6,000 workers, or 8% of its workforce in a restructuring. The telecommunications-equipment manufacturer announced in June it will add 550 jobs to its existing 4,600 at its Research Triangle Park site. The company will receive up to $12.9 million in state grant money for that expansion.

 

Charlotte proposes land-swap with Duke Energy for coal-ash storage

August 14, 2014

(The Charlotte Observer)

Duke Energy is considering a plan proposed by Charlotte city staffers that would give the utility 128 acres of vacant land to bury 4.7 million tons of coal ash. In exchange, Duke would give the city a 42-acre site on which it currently employs about 250 workers at an operations center. 

Large-scale productions likely to leave NC under grant program

August 14, 2014

(StarNews, Wilmington)

Though some high-profile film projects and television series could still benefit from the new state grant program that replaces film incentives, legislators who support film-making in N.C. are still making a last-minute effort to find more money for the industry.

Sierra Nevada begins public tours at Mills River brewery

August 14, 2014

(Hendersonville Times-News)

Sierra Nevada has begun offering free hard-hat tours of its Mills River brewery. The Chico, Calif.-based beer-maker plans to begin full tours in November. Its main brewery has been producing beer for several months. A restaurant, taproom and music venue are planned.

Carthage wants to create 'visual history art gallery' with murals

August 14, 2014

(The Fayetteville Observer)

Carthage has commissioned up to 20 murals showcasing the town's history in an effort to boost tourism and economic development.