Business

Port of Wilmington reports increase in container traffic

August 18, 2014

(Greater Wilmington Business Journal)

Port of Wilmington reported a 26% increase in container volume in July compared with a year ago. The growth was led by expanded service in Asia and Latin America and increased tonnage in Europe, according to a press release.

Charlotte-based Chiquita rejects buyout offer from Brazilian companies

August 15, 2014

(The Charlotte Observer)

Chiquita Brands International called an unsolicited $610 million bid from Cutrale Group and Safra Group inadequate, and reaffirmed its commitment to the produce company's pending merger with Dublin-based Fyffes. In response, the Brazilian companies indicated they aren't ready to back down.

Ebola outbreak highlights drugs made from tobacco plants

August 15, 2014

(The News & Observer, Raleigh)

Some drug companies are using "pharming" − producing medicines using genetically modified plants − to develop treatments for diseases including HIV, cancer and viruses including Ebola. Canada-based Medicago, which has a production plant at Research Triangle Park, is testing flu vaccines made with tobacco plants, and Kentucky BioProcessing, a Reynolds American subsidiary, has an Ebola treatment in development.

Deal with GE would make Electrolux world's No. 1 appliance maker

August 15, 2014

(The Charlotte Observer)

Electrolux said it is in talks to buy General Electric's appliance division. The deal would allow Electrolux, which had $16.7 billion in sales last year, to surpass Whirlpool as the world's No. 1 appliance maker. Electrolux employs about 900 people at its North American headquarters in Charlotte, and plans to double its workforce there.

Drone company gives NC deadline to decide on $6M investment

August 15, 2014

(Winston-Salem Journal)

Drone-maker Olaeris has given state officials until Sept. 25 to commit to a $6 million investment in the startup company, which wants to locate a U.S. headquarters at Smith Reynolds Airport. The company, which is developing unmanned drones for use by law enforcement officials, said it will create 150 high technology jobs over five years.

Riverfront redevelopment plan in the works for Southport

August 15, 2014

(StarNews, Wilmington)

Local government leaders will form a steering committee of residents to weigh in on a plan to redevelop Southport's riverfront district. Wilmington engineering firm Criser Troutman Tanner Consulting Engineers was hired to conduct a study on the redevelopment.

Lenovo quarterly profits exceed expectations

August 15, 2014

(The News & Observer, Raleigh)

Lenovo posted a 23% increase in profit in its fiscal first quarter ended in June, led by gains in the smartphone and PC markets. The Beijing-based computer maker employs about 2,200 at its North American headquarters in Morrisville.

Conspirator sentenced to prison for involvement in real-estate scheme

August 15, 2014

(Asheville Citizen-Times)

Andrew Quinn Hager was sentenced to eight months in prison for his involvement in the failed Seven Falls development in Henderson County. Hager pleaded guilty in March 2013 to conspiracy to commit bank fraud. 

BofA could write off portion of DOJ settlement

August 15, 2014

(The Charlotte Observer)

Billions of dollars of Bank of America's expected $16 billion settlement with the Department of Justice over faulty mortgage bonds could be tax-deductible.

Durham's BioCryst receives $4.1 million to develop Ebola treatment

August 14, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals was awarded $4.1 million to develop a treatment for the Ebola virus. The funds are part of a 5-year, $22 million federal research contract the Durham company was granted for a drug it is developing to treat Marburg, a related virus.