Business

Piedmont Natural Gas earnings drop in 2015

December 24, 2015

(The Charlotte Observer)

The Charlotte-based energy company said profits fell 5% in 2015, to $137 million from $143.8 million the previous year. Costs related to Piedmont's pending $4.9 billion sale to Duke Energy affected earnings.

Shareholder sues over NewBridge-Yadkin merger

December 24, 2015

(Winston-Salem Journal)

A NewBridge Bancorp shareholder is suing the company's executives and board of directors, claiming they undervalued the Greensboro-based bank in its proposed $456 million sale to Raleigh-based Yadkin Financial.

Fidelity sells 69 acres in RTP

December 24, 2015

(The News & Observer, Raleigh)

The Research Triangle Foundation paid more than $12 million for the land near the intersection of Interstate 540 and Davis Drive. Boston-based Fidelity Investments had planned to build a campus there but instead decided to buy and renovate the Network Center office park, also at RTP. Fidelity said in October it plans to add 600 jobs over three years in the Triangle.

Asheville area may attract 350-employee auto-parts plant

December 22, 2015

(Asheville Citizen-Times)

Switzerland-based GF Automotive and Linamar, a Canada-based powertrain company, may build a plant with as many as 350 employees over the next several years. A Jan. 4 hearing of the Henderson County Board of Commissioners will “consider economic-development incentives” for the GF Automotive-Linamar collaboration, Wyatt said. The partnership plans to invest $42.3 million in a factory and another $174.9 million in machinery and equipment through 2023, according to public records.

More than 10 million now call N.C. home

December 22, 2015

(Associated Press)

North Carolina now has more than 10 million residents, growing faster in the past year than all but five states. Among southeast states, Florida and Georgia added more residents than North Carolina during the year ended July 1. It is the ninth-most populous state.

Shelby offers historic-property designation to brew-pub building

December 22, 2015

(The Shelby Star)

Shelby's city council approved historic property designations for two downtown buildings, including one that houses the new Newgrass Brewing Co. The beer-pub is in the former Hudson Department Store building, which is still owned by the Hudson family. Designees can receive 50% reductions on property taxes.

CBRE says Charlotte real-estate market to remain robust

December 22, 2015

(The Charlotte Observer)

Real estate brokerage CBRE expects Charlotte commercial real estate to remain strong through 2016, according to its annual report. Higher rents for office and industrial space and residential properties are likely even as development approaches record levels in the area.

 

American Banker magazine names BB&T's King Banker of Year

December 22, 2015

(The Winston-Salem Journal)

American Banker magazine named BB&T Chairman Kelly King as its banker of the year, citing his 26 years as a senior BB&T manager and the bank's completion of two major acquisitions. King, 67, has no retirement plans. Since he became CEO in 2009, BB&T has grown from $136.5 billion in total assets to $220 billion, pending completion of its purchase of National Penn Bancshares Inc.

Increasing poultry production threatens Cape Fear, riverkeeper warns

December 22, 2015

(Goldsboro News-Argus)

A growing number of poultry farms in southeast  North Carolina is a looming threat to Cape Fear River's water quality because the region is in a part of the state already home to many industrial hog operations, according to Riverkeeper Kemp Burdette. North Carolina farms produce millions of hogs and hundreds of millions of chickens and turkeys annually, producing waste that runs into ditches during rains and eventually, into the river basin, according to the Fayetteville Observer. Twenty percent of state residents rely on the Cape Fear for their water.

Bankers association pushing literacy message to students

December 22, 2015

(The Charlotte Observer)

The North Carolina Bankers Association is starting a program to send bankers to the state's schools to teach financial literacy such as budgeting and interest compounding. The hope is to also improve the students' perception of bankers. Many students have a negative perception of bankers, according to the association.


Read more here: http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article50893815.html#storylink=cpy