Business

Duke Energy on watch for potential threats, executive says

December 22, 2015

(The Associated Press)

Duke Energy is working closely with U.S. intelligence agencies to stay alert to possible cyberattacks that would slow the flow of power, Executive Vice President A.R. Mullinax says. The country’s largest electricity company Duke Energy manages dams, nuclear power plants and other types of electricity-generating plants critical to the U.S. economy, while supplying power to more than 7 million customers in six states.

 

GlaxoSmithKline buys up rival's HIV assets

December 21, 2015

(WRAL TechWire)

London-based GlaxoSmithKline PLC has agreed to pay Bristol-Myers-Squibb up to $1.5 billion for the U.S. company's pipeline of HIV drugs. In May, GSK announced it would partner with UNC-Chapel Hill to form a new company to discover a cure for AIDS. GSK, which has a facility at Research Triangle Park, is investing $20 million in the venture. Bristol announced in June that it would end its virology research efforts, which span HIV and hepatitis. 

 

Wilmington port banks on bigger ships in 2016

December 21, 2015

(StarNews, Wilmington)

The Port of Wilmington hopes that the widening of its turning basin and the expansion of the Panama Canal will lead to larger ships and more traffic. Last week, the port authority received a variance from the N.C. Coastal Resources Commission to dredge portions of the Cape Fear River for the $16 million project. Plans call for expanding the turning point's radius from 1,200 feet to 1,400 feet by May though the port is awaiting approval from government agencies, including the N.C. Department of Environmental Quality. If the project meets its deadline, it will come about a month after the expansion of the Panama Canal, scheduled to open in April, making it easier for ships to reach East Coat ports. 

 

 

Departing SAS executive says software giant is in 'great shape'

December 21, 2015

(The News & Observer, Raleigh)

Jim Davis resigned as chief marketing officer of SAS Institute after 21 years with the company. He will take a similar position at Informatica, a privately held, Redwood City, Calf-based software developer. His replacement has not been named. In an interview with Raleigh's News & Observer newspaper, Davis said it was a difficult decision to leave SAS. He plans to split his time between his home in Cary and California. Informatica has 70 employees in North Carolina after acquiring Triangle startup StrikeIron. Informatica was acquired for $5.3 billion earlier this year by a group led by private equity firm Permira and the Canada Pension Plan Investment Board.

 

Court win for Chatham Park development

December 21, 2015

(Durham Herald-Sun)

N.C. Superior Court Judge Paul Ridgeway dismissed a lawsuit against the Town of Pittsboro challenging the planned 7,120-acre development of homes and businesses. Plans call for the construction of more than 22 million square feet of commercial space and 22,000 residential units. It is a project of Cary-based Preston Development Co. Chatham Park would bring tens of thousands of new residents to the town of about 4,000 people. 

German grocer breaks ground on regional hub

December 21, 2015

(News & Record, Greensboro)

Work has begun in Alamance County on a new regional distribution center for Lidl, one of the world’s largest grocery and household retailers. Lidl has about 10,000 stores in 26 countries. Now, it's eyeing North Carolina with plans for stores in Cary, Charlotte, Lexington, Raleigh and Winston-Salem. The discount retailer, similar to Aldi, said it planned to invest $125 million in the 50,000-square-foot facility in Alamance County after Graham and Mebane approved a nearly $5.38 million incentive package to lure the grocer.

 

 

Apple's new chief operating officer has Carolina ties

December 18, 2015

(WRAL.com)

Jeff Williams earned a degree in mechanical engineering at N.C. State University and an MBA at Duke. Williams, who has worked for Apple for 17 years and supervised the launch of the Apple Watch, fills the position previously held by CEO Tim Cook, also a Duke MBA graduate.
Related: This man could be the next CEO of Apple

Appliance maker adding 460 jobs in Craven County

December 18, 2015

(New Bern Sun Journal)

BSH Home Appliances plans to add 460 jobs and invest more than $80 million over the next five years in an expansion of its New Bern operations, which includes a manufacturing plant, distribution facility and call center. The Munich-based company is the leading producer of home appliances in Europe, according to a press release from Gov. Pat McCrory's office.

National Penn shareholders approve BB&T merger

December 18, 2015

(Winston-Salem Journal)

Shareholders of National Penn Bancshares on Wednesday approved the company's $1.8 billion sale to BB&T, a deal that will give the Winston-Salem-based bank about $220 billion in assets. Though the deal was approved, some shareholders apparently weren't happy with the $13 per share payout or losing their hometown bank. "I almost literally held my nose for this vote," one shareholder told the Allentown (Pa.) Morning Call.

Charlotte's DealCloud raises $5.3M, names new CEO

December 18, 2015

(The Charlotte Observer)

DealCloud, a Charlotte-based software company that provides a platform for streamlining mergers and acquisitions, completed a $5.3 million financing round and named Rick Kushel chief executive officer. Kushel is the former CEO of iLevel Solutions. DealCloud was founded in 2010 by Ben Harrison and Rob Cummings, previously with Falfurrias Capital Partners.