Business

Salix drug gets FDA approval

July 18, 2014

(The News & Observer, Raleigh)

The Food and Drug Administration has approved a drug co-developed by Salix Pharmaceuticals for the treatment of swelling of the skin similar to hives. Salix has said annual sales of Ruconest could reach $87 million.

Greensboro developer reveals details of $50 million downtown project

July 18, 2014

(News & Record, Greensboro)

Roy Carroll, founder and CEO of The Carroll Cos., revealed plans Wednesday for a 4-acre, $50 million mixed-use project in downtown Greensboro that will include a 100-room hotel and 300 apartments. 

SXSW director to speak at Wilmington conference

July 18, 2014

(Greater Wilmington Business Journal)

Hugh Forrest will be the keynote speaker at the inaugural Coastal Connect conference of UNC Wilmington's Center for Innovation and Entrepreneurship in September. Forrest is the director of the South by Southwest Interactive Festival, held annually in Austin, Texas.

Charlotte Cafe files for bankruptcy protection

July 18, 2014

(The Charlotte Observer)

Charlotte Cafe, a 33-year-old restaurant located in Park Road Shopping Center, has filed for Chapter 11 bankruptcy protection but plans to stay open during the reorganization. Owner Jimmy Roupas blamed increased food costs and debts stemming back to the recession.

Bank of the Carolinas raises $45.8 million

July 17, 2014

(Winston-Salem Journal)

Bank of the Carolinas Corp. has raised $45.8 million in private-equity funding through a discounted stock offering of 10 cents a share. The Mocksville-based bank plans to use $34.8 million of the proceeds as a capital infusion for its bank subsidiary. 

Icahn says Levine shouldn't be CEO of Family Dollar

July 17, 2014

(The Charlotte Observer)

Investor Carl Icahn criticized Family Dollar's management and said Leon Levine should not be CEO of the Matthews-based company. Icahn acquired a 9.4% stake in the discount retailer last month and has been trying to force a sale of the company. 

BofA raises settlement offer with Justice Department

July 17, 2014

(The Charlotte Observer)

Bank of America has resumed talks with the U.S. Department of Justice and has offered a settlement of $12 billion to resolve probes related to mortgage-backed bonds it sold to investors prior to the financial crisis. Second-quarter profits fell 43%, due in part to $4 billion in legal expenses.

Merz Pharma moving North American headquarters to Raleigh

July 17, 2014

(The News & Observer, Raleigh)

Merz Pharma will move its North American headquarters from High Point to Raleigh. The German company, which makes skin-care products for the treatment of fungal infections, wrinkles and scars, employs 193 in High Point. It expects to add about 50 jobs.

ABC series resumes production in Wilmington

July 17, 2014

(StarNews, Wilmington)

The ABC mystery series "Secrets and Lies" will begin production in Wilmington July 24. The pilot for the show, which stars Ryan Phillippe and Juliette Lewis, was filmed in the Porters Neck area in March. Nine more episodes will be filmed.

Fracking possible in Nantahala, Pisgah national forests

July 17, 2014

(Watauga Democrat)

The U.S. Forest Service acknowledged in a statement the potential for fracking for natural gas in the Nantahala and Pisgah national forests. North Carolina is studying potential shale-gas deposits in Western counties.