Business

Durham ranked ninth-best city for creative people

August 3, 2015

(WRAL TechWire)

A thriving music scene and premier performing arts center helped Durham earn the No. 9 spot on SmartAsset's latest list of "Best Cities for Creatives."

BofA to hold special vote on chairman issue

August 3, 2015

(The Charlotte Observer)

Bank of America will hold a special meeting for shareholders to weigh in on its decision to make CEO Brian Moynihan chairman. A date for the vote has not been determined.
Related: Latest BofA shakeup means fewer top execs in Charlotte

High Point drug developer raises $117M in IPO

July 31, 2015

(Xconomy.com)

High Point-based vTv Therapeutics raised $117 million in its initial public offering. The company plans to use up to $80 million of the proceeds for a Phase 3 clinical trial of its treatment for Alzheimer's disease. vTv stock opened Thursday at $14 a share and fell 28.6%, closing at $10.71.

Beer industry contributes $3.8B to NC economy

July 31, 2015

(WRAL.com)

North Carolina's beer industry has a $3.8 billion impact on the state's economy, according to a report from the Beer Institute and National Beer Wholesalers Association. The study shows the industry is responsible for more than 26,000 direct jobs, including brewers, distributors and retailers.

Steep rents driving out downtown Raleigh businesses

July 31, 2015

(WRAL.com)

As apartment and condo construction booms in downtown Raleigh, many business owners say they can't afford increasing monthly rents. Natty Greene's Pub and Brewing Co. and Trig Modern furniture store are among the casualties.

Wilmington film festival adding startup conference

July 31, 2015

(Greater Wilmington Business Journal)

Wilmington's Cucalorus Film Festival will expand to include a business conference that will highlight the area's entrepreneurs. The festival is partnering with UNC Wilmington's Center for Innovation and Entrepreneurship and other local groups to add workshops, speakers and more. The 20-year-old festival will be held Nov. 10-15.

Raleigh's INC Research posts strong 2Q results

July 31, 2015

(The News & Observer, Raleigh)

INC Research reported net income of $28.6 million for the second quarter, up from $11.1 million a year ago. The Raleigh-based contract-research organization raised its guidance for the year and projects annual revenue of $900 million to $910 million. Shares rose 10% Thursday following the report, closing at $47.62.

Hanesbrands reports sixth consecutive quarter of record revenue

July 31, 2015

(Winston-Salem Journal)

Hanesbrands reported $94.9 million in net income for the second quarter, compared with $154.6 million a year ago. The decrease was due to costs related to acquisitions of DBApparel and Knights Apparel. Revenue increased 13.4% to a record $1.52 billion. International sales were up 101.2%.

Federal judge dismisses Herbalife suit

July 31, 2015

(Winston-Salem Journal)

A U.S. District Judge in Los Angeles threw out a lawsuit against Herbalife, the nutritional products manufacturer that plans to employ 800 people in Winston-Salem by 2018. The Oklahoma Firefighters Pension and Retirement System and other shareholders had sued the company, claiming they lost money after Herbalife was accused in 2012 of operating a pyramid scheme.

Former GSK employees face layoffs at RTP

July 30, 2015

(WRAL TechWire)

Reports indicate up to 200 Parexel employees were laid off Wednesday, though the company would not confirm the cuts. The workers are former employees of GlaxoSmithKline, which said it in February it planned to transfer some of its workforce to the Boston-based life-sciences company.
Related: GSK shares rise after earnings beat estimates