Business

Raleigh's TrustAtlantic Bank to be acquired for $80 million

October 23, 2014

(The News & Observer, Raleigh)

First Tennessee Bank will acquire Raleigh-based TrustAtlantic Bank for $80 million. Memphis-based First Tennessee has more than 180 branches, most in Tennessee, and opened its first Raleigh branch last year. TrustAtlantic has five branches in the Triangle and Greenville and had assets of $453 million as of Sept. 30.

Chiquita shareholders to vote on merger Friday

October 23, 2014

(The Charlotte Observer)

Dublin-based Fyffes has said it will keep most of the 320 jobs at Chiquita's Charlotte headquarters if its proposed merger is approved, while Brazilian companies Cutrale and Safra Group have not said what would happen with Charlotte's headquarters if shareholders approve its takeover offer.

 

Wilmington earns top spot on USA Today's list of best riverfront cities

October 23, 2014

(Greater Wilmington Business Journal)

Wilmington won USA Today's 10Best Reader's Choice contest for Best American Riverfront, edging out No. 2 Spokane, Washington. 

Some BofA customers double-billed using Apple Pay

October 23, 2014

(The Charlotte Observer)

Some Bank of America customers were double-billed for purchases made using the new Apple Pay mobile-payment system. A company spokeswoman say the bank is correcting the problem, which affected about 1,000 transactions, and customers who were double-charged will be refunded.

Imperial confirms new company formed in tobacco merger will be based in Greensboro

October 23, 2014

(News & Record, Greensboro)

The new company formed after Imperial Tobacco Group acquires several cigarette brands from Lorillard and Reynolds American as part of the companies' merger deal will be headquartered in Greensboro, the British company confirmed Tuesday.

SAS's Goodnight foresees continued growth in Cary

October 22, 2014

(The News & Observer, Raleigh)

SAS co-founder and CEO Jim Goodnight says he expects the company to add about 600 workers at its Triangle headquarters over the next three years. The business-analytics software company has added nearly 200 workers a year for the past five years. SAS unveiled a new 220,000-square-foot building on its Cary campus Tuesday morning.

Court of Appeals rules in favor of FirstHealth in fight over beds

October 22, 2014

(The Fayetteville Observer)

A three-judge panel of the N.C. Court of Appeals affirmed a lower-court ruling that will add 28 hospital beds at FirstHealth of the Carolinas' new Hoke County campus instead of at competitor Cape Fear Valley Health System's hospital in Fayetteville.

Bluegrass festival sets attendance record in Raleigh

October 22, 2014

(The News & Observer, Raleigh)

More than 180,000 people attended this month's World of Bluegrass festival in downtown Raleigh, making it the largest event downtown Raleigh has ever hosted. The local convention and visitors bureau estimates $10.8 million in direct visitor spending.

Duke Energy launches aid program for low-income customers

October 22, 2014

(The Charlotte Observer)

Duke Energy will provide $20 million for energy-efficiency upgrades for low-income customers. The Charlotte-based company agreed to establish the program as part of a rate-case settlement last year. As many as 4,000 homes could qualify for improvements including appliance replacements and heating- and cooling-system replacements worth up to $10,000.
Related: Duke won't overcharge customers for taxes it doesn't pay

Clodfelter: Charlotte needs to work on 'cool factor'

October 22, 2014

(The Charlotte Observer) 

Charlotte's local economy has diversified and has become less dependent on the banking industry in recent years, Mayor Dan Clodfelter said at a business-networking event Tuesday. Clodfelter also told the Business Leaders of Charlotte the city needs to work on its "cool factor" to attract more young people.