Business

Square 1 Bank completes initial public offering

March 28, 2014

(The News & Observer, Raleigh)

Durham-based Square 1 Financial, parent company of Square 1 Bank, debuted on the Nasdaq exchange Thursday. Shares closed at $20.60, 14% higher than its initial public offering price of $18 a share. Square 1 provides banking services to venture-capital and private-equity firms at a dozen offices nationwide.

First-grader's health improves after receiving Chimerix drug treatment

March 28, 2014

(The News & Observer, Raleigh)

The 7-year-old Virginia boy taking an experimental medication developed by Durham-based Chimerix is improving dramatically and has been moved out of intensive care at St. Jude's Children's Research Hospital in Tennessee. A social media campaign led to the drug company's decision to open a small trial for the antiviral medication, allowing the boy to receive treatment.

Burlington nonprofit to add 70 jobs

March 28, 2014

(The News & Record, Greensboro)

Industries of the Blind Greensboro, which employs visually impaired workers, will add 70 employees in an expansion of its apparel-manufacturing center in Burlington. President David LoPresti said he expects about 75% of the new hires will be blind. The nonprofit currently employs about 200 people.

Electrolux unveils new laundry research center in Charlotte

March 28, 2014

(The Charlotte Observer)

Electrolux North America's new laundry research and development center continues the Swedish appliance-maker's expansion in Charlotte, adding 60 new jobs and growing its local employment total to 925.  

ECU opens dental learning clinic in Harnett County

March 28, 2014

(The Daily Reflector, Greenville)

The East Carolina University School of Dental Medicine opened a community-service learning center in Lillington this week, its third such clinic where faculty members oversee fourth-year dental students who perform dental services in underserved ares of the state. The university already operates centers in Ahoskie and Elizabeth City, and four others are under construction across the state. 

New Bern to host PepsiCo shareholders meeting May 7

March 28, 2014

(The New Bern Sun Journal)

Purchase, N.Y.-based PepsiCo will hold its annual shareholders meeting in New Bern for the second year in a row. Pepsi was created by New Bern pharmacist in 1898. The shareholders meeting will be held May 7 at the North Carolina History Center.

Charlotte pair to make map of all NC barbecue restaurants

March 28, 2014

(The Charlotte Observer)

A duo from Charlotte reached their $10,000 goal on the website Kickstarter.com and will produce a detailed map of every barbecue restaurant in North Carolina. The maps, which will feature at least 300 locations, will sell for less than $10 each at restaurants and gift shops.

Charlotte Mayor Patrick Cannon resigns after corruption charges

March 27, 2014

(The Charlotte Observer)

Charlotte Mayor Patrick Cannon resigned Wednesday evening after being arrested on charges of theft and bribery. The FBI, which began investigating Cannon in 2010 when he was a city council member and mayor pro tem, alleges he took tens of thousands of dollars in bribes. Cannon, 49, could face up to 50 years in prison and $1.5 million in fines if he is convicted.

Bank of America reaches $9.5 billion settlement with housing agency

March 27, 2014

(The Charlotte Observer)

Charlotte-based Bank of America will pay $9.5 billion to settle a case with the Federal Housing Finance Agency over claims the bank violated securities laws when it sold mortgage bonds to Fannie Mae and Freddie Mac between 2005 and 2007.

Census report shows state's population growth higher in urban areas

March 27, 2014

(The Winston-Salem Journal)

Mecklenburg and Wake counties accounted for almost half of North Carolina's population growth from 2012 to 2013, according to a new report from the U.S. Census Bureau. Overall, the state's population grew by 99,696, or 1.02%, to 9,848,060.