Business

Charlotte ranked third best city for job seekers

January 14, 2015

(The Charlotte Observer)

San Francisco-based consumer finance site NerdWallet used affordability, workforce growth and availability of jobs to rank the largest 100 U.S. cities. Charlotte was ranked the third best city for people looking for a job, behind No. 1 Lincoln, Neb., and No. 2 Fort Worth, Texas. Greensboro also ranked in the top 10, coming in at No. 8 on the list.

Beauty-products retailer closing Wake Forest center

January 14, 2015

(The News & Observer, Raleigh)

The Body Shop will close a customer-service center in Wake Forest where it employs 145 workers. About 10 affected employees will be offered jobs at a new planned U.S. headquarters in New York City or at offices in New Jersey. Owned by L-Oreal, United Kingdom-based The Body Shop makes and sells beauty and skin-care products at more than 3,000 stores worldwide.

BofA cut ties with 150 hedge funds last year

January 14, 2015

(The Charlotte Observer)

Charlotte-based Bank of America cut ties with about 150 hedge funds in its prime brokerage unit in 2014, according to two people familiar with the matter. The business of servicing the hedge-fund industry has become less profitable, and federal regulatory requirements put in place to prevent another financial crisis are forcing lenders to cut costs. 

Belk reports strong holiday sales

January 14, 2015

(The Charlotte Observer)

Charlotte-based Belk reported that sales increased 5.2% during the nine-week period ending Jan. 3, compared with the same period a year ago. CEO Tim Belk said online sales increased by 44% during the holiday season.

ChannelAdvisor shares plummet 54%

January 14, 2015

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 54% Tuesday as seven analysts downgraded their ratings on the e-commerce company's stock. The company reported on Monday that fourth quarter revenue would be about $23.7 million, less than the $25.6 million to $26.1 million it had previously projected.

Pharr Yarns to buy Georgia carpet manufacturer

January 14, 2015

(The Charlotte Observer)

Pharr Yarns will acquire Dalton, Ga.-based carpet manufacturer Phenix Flooring. Terms of the deal, which is expected to close in March, weren't disclosed. Based in McAdenville, textile manufacturer Pharr has supplied yarn to the carpet industry since the 1950s, President Bill Carstarphen said.

Olde Mecklenburg Brewery adding Triad distribution center

January 14, 2015

(News & Record, Greensboro)

Charlotte-based Olde Mecklenburg Brewery is opening a 50,000-square-foot distribution warehouse in Greensboro with a focus on expanding its customer base in the Triad.

Craven County partnership introduces new logo

January 14, 2015

(New Bern Sun Journal)

The Craven 100 Alliance, a public-private economic-development partnership established in 2014, introduced a new logo and said it has begun forming membership and fundraising committees. The group hopes to raise $1.5 million in private funding to help recruit new business to the area.

Tri-county marketing initiative announced in Southeastern NC

January 14, 2015

(Greater Wilmington Business Journal)

The Southeastern Partnership announced the Wilmington Regional Marketing Initiative, a new campaign in which local leaders from Brunswick, New Hanover and Pender counties will combine marketing efforts to bring jobs to the region.

Davies tapped to lead Citigroup mortgage business

January 14, 2015

(The Charlotte Observer)

Former Wachovia and LendingTree exec C.D. Davies was named head of New York-based Citigroup's global mortgage business.