Business

Durham company breaks ground on zero-emissions power plant

April 11, 2016

(The News & Observer, Raleigh)

NET Power broke ground last month on what the company says is the world's first zero-emissions power plant. The 25-megawatt plant, near Houston, Texas, expects to start generating energy in March 2017. The plant captures carbon dioxide that would otherwise be released into the air and stores it for injection underground or industrial uses.

3 Yadkin Financial execs got big raises in 2015

April 11, 2016

(Winston-Salem Journal)

Yadkin Financial CEO Scott Custer received a 107.7% raise in 2015 as his salary increased to $519,231. Custer's total compensation was $1.3 million, up 95.1% from 2014. CFO Terry Earley and Steven Jones, chief banking officer, also got 107.7% salary increases. Raleigh-based Yadkin has about $7.3 billion in assets and 110 branches following last month's acquisition of Greensboro-based NewBridge Bancorp, though plans call for shedding up to 11 branches in overlapping markets.

Harris Teeter leads Charlotte grocery market

April 11, 2016

(The Charlotte Observer)

Grocery wars are heating up in Charlotte, and the latest market share rankings show Harris Teeter is in the top spot with 19.4%. Food Lion is second, while Wal-Mart Supercenter fell from No. 1 in 2014 to No. 3. However, Wal-Mart leads with 26.6% market share when its Supercenters, Sam's Clubs and Neighborhood Markets are combined. Florida-based Publix was fourth with a 6% market share.

Wood-pellet domes almost complete at Port of Wilmington

April 11, 2016

(StarNews, Wilmington)

Two white, 170-foot-tall domes at Port of Wilmington are nearly ready for use by Enviva, a Maryland-based company that will store wood pellets inside them for shipment to Europe. The pellets are produced at a plant in Sampson County. The company expects to begin shipping by the end of the third quarter.

Construction values rise in Cabarrus County

April 11, 2016

(Independent Tribune, Concord)

Cabarrus County issued 752 building permits valued at $134.5 million, higher than the $123.1 million for the same period a year ago and more than double the $57.6 million in 2014. Single-family construction remained strong, with permits issued for 351 homes worth $51.4 million.

Hanesbrands to buy Champion Europe

April 8, 2016

(Winston-Salem Journal)

Hanesbrands will buy Champion Europe in an all-cash deal valued at $228 million, a move that will allow the Winston-Salem-based company to better promote the athletic apparel brand globally. Hanesbrands recently paid $30 million to reacquire the rights to Champion in Japan. The company predicts global Champion sales will reach $2 billion by 2021 or 2022.

Belk signs 15-year lease in Charlotte

April 8, 2016

(The Charlotte Observer)

The Charlotte-based department-store chain is consolidating its corporate headquarters in a 475,000-square-foot space it partially occupies on Tyvola Road in south Charlotte. Belk, which was acquired in December by private-equity firm Sycamore Partners for $3 billion, has about 1,400 employees at its corporate office.

Wells Fargo to offer paid parental leave

April 8, 2016

(The Charlotte Observer)

Beginning June 1, the San Francisco-based bank will provide up to 16 weeks for primary caregivers and up to four weeks for nonprimary caregivers following a birth or adoption. Competitors Bank of America and JPMorgan Chase also introduced paid parental leave policies earlier this year. Wells Fargo employs more than 23,000 in the Charlotte area.

Red Hat CEO: $5B in revenue in 5 years

April 8, 2016

(WRAL TechWire)

Open-source software company Red Hat last year reached $2 billion in annual revenue for the first time, and CEO Jim Whitehurst says he'd like the company to reach $5 billion in five years, a goal that would mean doubling its workforce. Red Hat employs about 1,400 people at its Raleigh headquarters.

HGTV house in Asheville is on the market

April 8, 2016

(Asheville Citizen-Times)

The HGTV Urban Oasis house in West Asheville is for sale. The price tag for the 1,300-square-foot, two-bedroom home: $490,000. That's more than double the sales price for a similar size home in the area, but realtor Mike Figura says the price is higher because the home is fully furnished, and because it's a "TV star." Washington resident Crystal Harriman won the home in a sweepstakes last year but decided not to keep it.