Business

BB&T completes its largest purchase

August 4, 2015

(Winston-Salem Journal)

BB&T completed its $2.5 billion acquisition of Lititz, Pa.-based Susquehanna Bancshares Monday. The cash-and-stock deal is the largest in the Winston-Salem-based bank's history and gives it 240 branches in Pennsylvania, Maryland, New Jersey and West Virginia.

Investors favor Triangle-based CROs

August 4, 2015

(The News & Observer, Raleigh)

Shares of Raleigh-based INC Research and PRA Health Sciences have risen 95% and 75%, respectively, this year, while Durham-based Quintiles shares are up 31%. All three contract-research organizations posted second-quarter results that beat analysts' expectations.

BofA ranks last in financial performance

August 4, 2015

(The Charlotte Observer)

For the fourth year in a row, Bank of America ranked last in financial performance among the 20 largest U.S. banks, according to Bank Director magazine. The annual scorecard bases its rankings on the previous year's profitability, capitalization and asset quality. BB&T ranked seventh, while Wells Fargo ranked fourth.

Cabarrus considers incentives for $56 million project

August 4, 2015

(The Independent Tribune)

At its Monday meeting, Cabarrus County commissioners were expected to vote on incentives for a unnamed manufacturer to invest $56 million in a 200,000-square-foot facility near Midland.

Charlotte's LendingTree posts record revenue in 2nd quarter

August 4, 2015

(The Charlotte Observer)

Charlotte-based LendingTree posted a profit of $4.7 million in the second quarter, compared with a loss of $248,000 a year ago. Revenue reached a record $55.1 million, up 31% from a year ago.

Leader of Ponzi scheme ordered to help pay $76M

August 4, 2015

(Winston-Salem Journal)

Keith Simmons and a California-based insurance broker were ordered to pay $76 million in civil penalties related to a Ponzi scheme Simmons operated in Ashe County. Through his companies, Black Diamond Capital Solutions and High South Realty, Simmons bilked more than 400 people out of more than $40 million. He was sentenced to 40 years in prison in 2012.
Related: "Money for nothing," August 2012

Lenovo slips in smartphone market share rankings

August 4, 2015

(The News & Observer, Raleigh)

Lenovo dropped from third place to fifth in overall market share of smartphones, based on reports from two market-research firms. Lenovo's smartphone shipments fell 33.3% in the second quarter compared with the previous year.

Megasite group awaits state decision on incentives

August 3, 2015

(News & Record, Greensboro)

The Greensboro-Randolph Megasite Foundation has options to purchase 1,400 acres of land for a manufacturing megasite, but the group can't promote the site to prospective employers until knowing what type of incentives the state will provide.

Duke Progress completes $1.25B purchase of eastern NC power plants

August 3, 2015

(The News & Observer, Raleigh)

Residents of 32 eastern N.C. towns could see their power bills slashed by as much as 17% now that the N.C. Eastern Municipal Power Agency has completed the sale of its ownership stake in five power plants to Duke Energy Progress. 

Parexel laying off 125 in Durham

August 3, 2015

(The News & Observer, Raleigh)

In a notice filed with the N.C. Commerce Department, Parexel confirmed it plans to lay off 125 workers in Durham. The contract-research organization said in June it was laying off about 5% of its global workforce.