Business

BB&T's second quarter profits down 22.3%

July 22, 2014

(Winston-Salem Journal)

BB&T Corp. reported net income of $425 million for the second quarter compared with $547 million for the same period a year ago. The 22.3% drop was due to mortgage- and tax-related charges totaling $88 million. 

Ackman says he can prove Herbalife is a pyramid scheme

July 22, 2014

(News & Record, Greensboro)

Hedge-fund manager Bill Ackman will hold a presentation Tuesday that he says will prove Los Angeles-based Herbalife is a fraud. The founder and CEO of Pershing Square Capital Management claims the vitamin company is a pyramid scheme. Herbalife is investing $130 million in a plant in Winston-Salem, where it plans to employ nearly 500 people by the end of 2015.

Facebook helping Rutherford County students get free Wi-Fi

July 22, 2014

(WRAL TechWire)

Students in Rutherford County will receive free Wi-Fi access at their homes through a pilot program sponsored by Facebook, PANGAEA Internet and local governments. Menlo Park, Calif.-based Facebook opened a data center in Forest City in 2012.

Charlotte developer plans new Lake Norman community

July 22, 2014

(The Charlotte Observer)

Simonini Group will develop a mixed-use community with 220 single-family homes, 240 apartments and 100,000 square feet of retail on 116 acres in eastern Lincoln County.

GE adding 60 jobs at Mebane plant

July 22, 2014

(The News & Observer, Raleigh)

GE Industrial Solutions will add a new production line and create 60 new jobs by the end of 2015 at its Mebane plant, where it employs more than 500. Fairfield, Conn.-based General Electric employs more than 4,850 across North Carolina.

BBB releases list of Charlotte companies with most complaints

July 22, 2014

(The Charlotte Observer)

The Better Business Bureau has released its annual "Dirty Half-Dozen" list of businesses in the Charlotte area that received the most unanswered consumer complaints during the first half of 2014.

Will anyone save Fayetteville's Prince Charles Hotel?

July 22, 2014

(The Fayetteville Observer)

A canceled auction for the historic Prince Charles Hotel in Fayetteville has downtown advocates speculating about plans for the property.

Punitive damages likely to be reduced in RJ Reynolds case

July 22, 2014

(Winston-Salem Journal)

The $23.6 billion in punitive damages awarded by a Florida jury last week is likely to be reduced or overturned, according to industry analysts. A spokesman for R.J. Reynolds Tobacco Co. has said it will appeal the ruling.

Zoning amendment makes it easier for Charlotte breweries to expand

July 22, 2014

(The Charlotte Observer)

The Charlotte City Council voted to change zoning regulations to reduce the required distance between residential areas and bars, restaurants and nightclubs from 400 feet to 100 feet. The change gives breweries in neighborhoods such as Charlotte's NoDa more expansion opportunities.

RJ Reynolds to fight $23.6 billion verdict

July 21, 2014

(The News & Observer, Raleigh)

R.J. Reynolds Tobacco Co. says it will appeal a verdict in a lawsuit that would require it to pay $23.6 billion in punitive damages to the widow of a smoker who died of lung cancer in 1996. A Florida jury awarded the damages on Friday, a day after Cynthia Robinson was awarded $16.8 million in compensatory damages.