Business

Tobacco farmers face end of buyout program

September 17, 2014

(The News & Observer, Raleigh)

The last checks from the tobacco buyout program will be distributed to about 425,000 farmers and landowners in October. Though many tobacco growers have gotten out of the business, those who remain are thriving due in part to a strong export market.

Botox-maker said to consider Salix acquisition

September 16, 2014

(The News & Observer, Raleigh)

Shares of Salix Pharmaceuticals rose more than 4% Tuesday after CNBC reported that Irvine, Calif.-based Allergan might be considering an acquisition of the Morrisville-based drug developer. Salix announced in July it is merging with Cosmo Technologies, a subsidiary of an Italian pharmaceutical, and moving its headquarters to Ireland.

Greenville, SC-based CertusBank to sell mortgage, wealth divisions

September 17, 2014

(The Charlotte Observer)

Greenville, S.C.-based CertusBank plans to sell its mortgage and securities divisions. The bank, started in Charlotte in 2010, is shedding those lines of business as part of a restructuring led by new CEO John Poelker. The bank's three founders and top executives were fired earlier this year after shareholders expressed concerns over mismanagement.

Shareholders approve First Citizens merger

September 17, 2014

(The News & Observer, Raleigh)

Shareholders of Raleigh-based First Citizens Bank and Columbia, S.C.-based First Citizens Bank and Trust approved a merger of the two banks on Tuesday. First Citizens of Raleigh will acquire South Carolina's First Citizens for about $639.9 million. The deal is expected to close by year-end.

Red Hat opens Silicon Valley office to Triangle startups

September 17, 2014

(WRAL TechWire)

Raleigh-based software company Red Hat will provide work space for Triangle startups associated with the American Underground at its Mountain View, Calif., offices. 

Durham-based Cree files patent infringement suits

September 17, 2014

(WNCN.com)

Durham-based Cree has filed patent infringement lawsuits against two competitors in Wisconsin, where the company has had a strong presence since its 2001 acquisition of Ruud Lighting. The patents protect the lighting company's LED component portfolio, the company said in a statement.

Duke Energy to invest $500 million in solar projects

September 15, 2014

(The Charlotte Observer)

Duke Energy will invest $500 million in North Carolina solar projects. About half the money will be used to acquire and build solar farms in Bladen, Duplin and Wilson counties. The Charlotte-based utility also plans to purchase power from five additional solar projects across the state.

Software company exceeds growth expectations in Raleigh

September 16, 2014

(The News & Observer, Raleigh)

Florida-based Citrix attributes growth in Raleigh to the success of its ShareFile software and a talented pool of workers in the area. The company is relocating to a 170,000-square-foot office near downtown that will allow it to employ about 800 workers. Citrix received state and local incentives in 2012 to increase its local workforce from 130 to 470.

AvidXchange adding 600 workers in Charlotte

September 16, 2014

(The Charlotte Observer)

A software company will add 603 workers in a headquarters expansion in Charlotte. AvidXchange will invest more than $20 million in a four-story,115,000-square-foot space at the N.C. Music Factory. The company, which provides automated payment and invoicing services for businesses, employs about 300 in three states.

Report: NC among states most reliant on income tax

September 16, 2014

(News & Record, Greensboro)

Standard & Poor's reports that North Carolina is among 10 states most reliant on income tax revenues, and its revenues between 2009 and 2011 grew at a slower rate than others in that group. A recent study claims the widening gap between the top 1% of earners and everyone else has slowed the American economic recovery since the Great Recession.