Business

First Citizens announces board changes

September 25, 2014

(The News & Observer, Raleigh)

Three directors from South Carolina-based First Citizens Bank and Trust will join the board of First Citizens Bank when the two banks complete their $600 million merger next week. Ten members of the Raleigh-based bank's board will keep their positions, while two − H.M. Craig III and Ralph K. Shelton − will resign.

Foxx says local leaders should resolve Charlotte airport situation

September 24, 2014

(The Charlotte Observer)

In his first public comments on the issue, U.S. Transportation Secretary Anthony Foxx called the debate over who should run Charlotte Douglas International Airport "an unnecessary mess" and said it would be best if the issue was resolved locally. The former Charlotte mayor gave no timeline for when the FAA might decide whether a state-appointed commission can assume control of the airport (cover story, September 2013).

Cisco begins layoffs in RTP

September 24, 2014

(The News & Observer, Raleigh)

Cisco Systems has begun previously announced layoffs at its Research Triangle Park campus and across North America. The San Jose, Calif.-based tech company was awarded $12.9 million in state incentives to add 550 jobs at RTP by 2017. The company will be required to fill vacancies caused by the layoffs before it can count new hires toward the 550 total.

Charlotte ranked No. 1 Big-City Bargain

September 24, 2014

(The Charlotte Observer)

Money magazine ranked Charlotte first in the Best Big-City Bargain category of its 2014 Best Places to Live rankings. Criteria included affordability of housing, economic strength and other livability data. Phoenix, Fort Worth, Texas, Boston and Chicago completed the top five. On its overall best places to live list, Cary and Chapel Hill ranked 19th and 36th, respectively. 

Salix stock rises amid reports of Allergan acquisition

September 24, 2014

(The News & Observer, Raleigh)

Shares of Salix Pharmaceuticals rose 5% in afternoon trading Tuesday amid reports the company is in talks with Allergan, the maker of Botox, about a possible acquisition. It's unknown how an acquisition by Allergan would affect Salix's planned merger with a subsidiary of Italy-based Cosmo Pharmaceuticals. Raleigh-based Salix, which makes drugs for gastrointestinal illnesses, has a market value of $10.7 billion.

Duke Energy part of $8 billion wind project in Western U.S.

September 24, 2014

(The Charlotte Observer)

A company co-owned by Charlotte-based Duke Energy is part of an $8 billion proposed wind-energy project that would generate twice as much electricity as the Hoover Dam. Duke-American Transmission Co. is among four companies partnering on the project, which would store energy generated in Wyoming and later sell it to the city of Los Angeles.

BofA ranks first in consumer deposits; BB&T at No. 13

September 24, 2014

(Winston-Salem Journal)

Charlotte-based Bank of America Corp. ranked first in the nation in total consumer deposits with $455.3 billion, according to a second-quarter report by SNL Financial. Wells Fargo & Co. ranked second with deposits totaling $405.4 billion, while Winston-Salem-based BB&T Corp. came in at No. 13 with $45.7 billion.

Wilmington in running for best riverfront city

September 24, 2014

(StarNews, Wilmington)

Wilmington is among 20 candidates for USA Today's Best American Riverfront cities. Readers can cast votes until Oct. 20.

Novant to build medical office in Guilford County

September 24, 2014

(Winston-Salem Journal)

Novant Health will build a 6,200-square-foot medical office in High Point to support its 50-bed Kernersville Medical Center. The Winston-Salem-based health system expects to break ground on the site by early November and the center should open in 2015.

Former Wells Fargo employee files complaint over Wachovia acquisition

September 24, 2014

(Winston-Salem Journal)

A former Wells Fargo & Co. employee says in a complaint filed Monday that the San Francisco-based bank broke federal regulatory laws in its 2008 acquisition of Wachovia Corp. George Hartzman of Greensboro filed a lawsuit in 2013 seeking $31.1 million in damages. Two previous shareholders lawsuits were dismissed by a North Carolina Business Court judge in 2011.