Business

BioCryst shares slump after failed drug trial

February 9, 2016

(The News & Observer, Raleigh)

Shares fell 71% Monday after Durham drug developer BioCryst Pharmaceuticals reported that its experimental treatment for a rare genetic disorder failed to help patients in a clinical trial.

Perdue adding jobs at Rockingham processing plant

February 9, 2016

(Richmond County Daily Journal)

Perdue Foods will invest $10.9 million in its poultry processing plant in Rockingham, adding 30 jobs over the next three years. Maryland-based Perdue is Richmond County's largest private employer with more than 1,000 workers.

Wilmington seeks public input on short-term rentals

February 9, 2016

(StarNews, Wilmington)

Wilmington residents appear to be divided over short-term rentals, such as those offered on VRBO.com and Airbnb. It joins other N.C. cities, including Asheville and Raleigh, that will consider developing new rules for the practice.

Triangle Town Center sells for $174M

February 9, 2016

(The News & Observer, Raleigh)

A joint venture has acquired Triangle Town Center, a shopping mall in north Raleigh, for $174 million. DRA Advisors is the majority owner with a 90% stake; CBL & Associates, which previously held a 50% stake in the mall, now owns 10%. Anchors include Saks Fifth Avenue, Macy's and Sears.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

President of NewDominion Bank steps down

February 9, 2016

(The Charlotte Observer)

Marc Bogan, president and chief operating officer of Charlotte-based NewDominion Bank, is leaving to pursue other opportunities, specifically to pursue his dream of becoming CEO of a community bank.

SC energy company says it can power western NC

February 8, 2016

(Asheville Citizen-Times)

Columbia Energy says it can provide Duke Energy Progress with 523 megawatts of power produced at its Gaston, S.C.-based plant, a deal the South Carolina company says would lead to cheaper power bills for western N.C. residents than Duke's proposed natural-gas plants in Asheville.

Truslow to become CFO of Charlotte's Park Sterling

February 8, 2016

(The Charlotte Observer)

Don Truslow, former chief risk officer at Wachovia until his retirement from the company in 2008, will become chief financial officer of Park Sterling Bank, replacing David Gaines, who is leaving at the end of March. Truslow most recently was a senior adviser at Deloitte & Touche.

Mark Cuban bets on Southern Pines retailer

February 8, 2016

(The Pilot, Southern Pines)

R. Riveter, a Southern Pines-based handbag company started by two military wives, snagged a $100,000 investment from Texas billionaire Mark Cuban on ABC's Shark Tank. The national TV exposure alone could boost business for the small retailer: Producers told the company to expect 100,000 website hits when the show aired Friday.

Nationwide drops Durham ad agency

February 8, 2016

(The News & Observer, Raleigh)

Nationwide has dropped Durham-based McKinney after a seven-year partnership. McKinney CEO Brad Brinegar said losing the Ohio-based insurer — one of the ad agency's larger clients — will trigger some layoffs though he said it's too early to say how many jobs will be impacted.