Business

Teardowns common in Charlotte's older neighborhoods

July 7, 2014

(The Charlotte Observer)

Builders and homeowners are tearing down outdated homes in popular Charlotte neighborhoods and replacing them with larger ones. The teardowns reflect a nationwide trend of people wanting to live in established neighborhoods closer to downtown areas.

Cider production growing in Western NC

July 7, 2014

(Asheville Citizen-Times)

Some Western N.C. apple farmers are benefiting from a boom in cider production, which has increased almost 1,000% in the past few years. Cider makers are looking to expand in North Carolina, which is the seventh-largest apple-producing state in the U.S. 

Cooper appeals decision to let Aqua NC bypass public hearings

July 7, 2014

(The Winston-Salem Journal)

State Attorney General Roy Cooper appealed the N.C. Utilities Commission's decision to allow Aqua North Carolina to raise rates without first holding a public hearing. Aqua N.C. is the state's largest private water utility and serves 250,000 customers in 52 counties.

Conservationists oppose wood-pellet project at Port of Wilmington

July 7, 2014

(Greater Wilmington Business Journal)

Conservation organizations are questioning sustainability practices of a company that plans to build a wood-pellet storage center at Port of Wilmington. Baltimore-based Enviva is considering sites in Sampson and Richmond counties for wood-pellet plants. Products would stored in Wilmington, then shipped to Europe for use as fuel.

SunTrust agrees to $320 million settlement

July 7, 2014

(The Charlotte Observer)

Atlanta-based SunTrust Banks will pay up to $320 million to resolve a criminal investigation claiming it misled homeowners who applied for loan modifications under a federal bailout program between 2009 and 2010.

Section of High Point's Montlieu Ave. to close for HPU expansion

July 7, 2014

(High Point Enterprise)

A half-mile section of Montlieu Ave. in High Point will close to through traffic July 30 and will become an entrance for High Point University's new pharmacy and health sciences schools. School officials said earlier this year they would consider locating the schools outside of High Point if the city couldn't help accommodate the expansion.

Share prices rise after another report of potential tobacco merger

July 7, 2014

(Winston-Salem Journal)

After CNBC reported that a merger deal between Winston-Salem-based Reynolds American and Greenboro-based Lorillard could be announced by the end of the month, share prices rose for both companies on Thursday.

Concord Mills to hold 'Better than Tax Free' sale

July 3, 2014

(The Charlotte Observer)

Concord Mills mall will hold a special shopping event July 25-27 to replace the tax-free holiday customers relied on for back-to-school shopping. North Carolina lawmakers last year repealed the sales tax holiday, which cost the state more than $13.6 million in tax revenue in 2012.

Icahn purchases underlying shares in Family Dollar

July 3, 2014

(The Charlotte Observer)

Investor Carl Icahn spent $622 million to purchase almost 10.7 million shares of Matthews-based Family Dollar on Wednesday. He previously held most of his 9.4% stake through options. 

Martin Marietta completes purchase of Texas Industries

July 3, 2014

(The News & Observer, Raleigh)

Raleigh-based Martin Marietta Materials completed its $2.7 billion acquisition of Texas Industries. The deal makes Martin Marietta the largest U.S. supplier of construction aggregate products including gravel and sand for use in building sidewalks and highways.