Business

Duke Energy inks another deal to turn pig poop into power

May 25, 2016

(The Charlotte Observer)

Duke Energy will buy swine waste from Duplin County pork farms to serve power plants in Wayne and New Hanover counties. It's the utility's second deal announced this year to turn pig poop into power; Duke said in March it will partner with Carbon Cycle Energy to use methane from pig and poultry waste to generate electricity at four N.C. power plants. 

Durham entrepreneur earns spot on Inc.'s 30 Under 30 list

May 25, 2016

(Inc.com)

Tatiana Birgisson, the 26-year-old founder of Mati Energy, made Inc. magazine's 2016 list of coolest young entrepreneurs. Birgisson founded the energy-drink company in her dorm room at Duke University in 2012. Now sold in Whole Foods stores and soon available at Kroger and Costco, Mati expects to bring in $1 million in revenue this year.

Environmental groups challenge $10M bond in Duke Energy case

May 25, 2016

(Asheville Citizen-Times)

Two environmental groups are challenging a ruling that would require them to post a $10 million bond if they appeal the state Utilities Commission's approval of Duke Energy's plans to replace its power plant near Asheville. The utility wants to convert the coal-fired plant to natural gas.

NC startups off to slow start in 2016

May 25, 2016

(WRAL TechWire)

Thirty-two startup companies raised $169 million from 45 investors in the first quarter, according to a report by Durham-based Council for Entrepreneurial Development. It's the weakest start to the year since 2013, when N.C. companies raised $82 million. Life-sciences companies raised the most, with more than $113 million, and there were 11 exits.

Yadkin Bank closing Wilmington branch

May 25, 2016

(Greater Wilmington Business Journal)

Following its $456 million acquisition of Greensboro's NewBridge Bank, Yakdin Bank will close a former NewBridge branch in Wilmington. The branch on Military Cutoff Road will be consolidated with another location.

California software company opens Raleigh office

May 25, 2016

(WRAL TechWire)

WalkMe has opened a Raleigh office and plans to ramp up hiring over the next several years. The Silicon Valley-based software firm makes apps used by more than 700 companies, including AT&T, Cisco and Citrix Systems.

UNC governors begin public-comment sessions

May 24, 2016

(The News & Observer, Raleigh)

Beginning Friday, the UNC Board of Governors will begin holding public comment periods following board meetings. UNC System President Margaret Spellings suggested the idea to improve transparency.

Appeals court reverses BofA fraud ruling

May 24, 2016

(The Charlotte Observer)

A federal appeals court on Monday overturned a jury's ruling that found Bank of America liable for fraud over mortgages originated by its Countrywide Financial unit — and also tossed out the $1.27 billion penalty imposed after the trial. The court also negated a ruling that a former Countrywide exec, Rebecca Mairone, was personally liable in the case.

Bayer CropScience HQ could move to St. Louis if Monsanto deal approved

May 24, 2016

(WRAL TechWire)

If Bayer's $62 billion offer for seed-maker Monsanto is approved, the headquarters for its crop science unit would be in St. Louis, not RTP, according to James Blome, CEO of the division. Bayer Crop Science currently employs about 1,000 people at its RTP headquarters and related sites. Blome said the company would continue to have a presence in the state, though the overall impact on jobs was unclear.

Old Dominion approves $250M stock buyback program

May 24, 2016

(Winston-Salem Journal)

Directors of Old Dominion Freight Line authorized a $250 million share repurchase program. The Thomasville-based trucking company said it is within $12 million of completing its last stock repurchase program, launched in November 2014.