Business

BofA fined $250 million over foreign-exchange practices

November 13, 2014

(The Charlotte Observer)

Charlotte-based Bank of America will pay a $250 million civil penalty to resolve a U.S. regulator's claims that it manipulated foreign-exchange rates. New York-based JP Morgan and Citibank were fined $350 million each, and all three banks were ordered to improve oversight of their foreign-exchange trading.

ZeekRewards' Burks due in court Thursday

November 13, 2014

(The Charlotte Observer)

Paul Burks will be arraigned Thursday on charges related to his involvement in the ZeekRewards online investment scheme, which bilked more than $800 million out of investors from more than 150 countries. About 50,000 of the victims lived in North Carolina. Burks, the alleged mastermind of the Ponzi scheme, faces up to 65 years in prison and a $1 million fine.

Chatham Park developer hires veteran business recruiter, planner

November 13, 2014

(The News & Observer, Raleigh)

Preston Development Co. hired Ken Atkins, former director of Wake County Economic Development, to help recruit businesses to Chatham Park, a 7,200-acre planned community that is expected to grow the town of Pittsboro's population from about 4,000 to more than 60,000. Charles R. "Chuck" Smith, a landscape architect with Cary-based Withers & Ravenel, was hired to oversee design.

Honda Aero reveals first jet engine made in Burlington

November 13, 2014

(News & Record, Greensboro)

Honda Aero unveiled the first jet engine made at its Burlington plant, which employs about 60 people and will be the exclusive engine builder for HondaJet, the light corporate jet manufactured at Piedmont Triad International Airport. Honda Aircraft expects to deliver its first $4.5 million HondaJet in early 2015 ("Ready to take off," February).

Former Salix CFO gets $130K in severance

November 13, 2014

(The News & Observer, Raleigh)

Adam Derbyshire, who resigned as CFO of Raleigh-based Salix Pharmaceuticals last week, will receive $130,484 in severance and will serve as a consultant for the drug developer through August 2018, according to a regulatory filing.

Manufacturer plans to bring 1,300 jobs to Wilmington

November 12, 2014

(Greater Wilmington Business Journal)

A company that will make tank cars, boxcars and hoppers is expected to announce on Thursday plans to create about 1,300 jobs in Wilmington. Vertex Rail Manufacturing will occupy a site where heavy-equipment manufacturer Terex previously made large tower cranes.

27-acre project planned near Charlotte's SouthPark Mall

November 12, 2014

(The Charlotte Observer)

Charlotte-based Synco Properties and Austin, Texas-based Schlosser Development want to build apartments, a hotel, offices and retail shops on a 27-acre tract at Sharon and Colony roads near SouthPark Mall. If rezoning is approved, the 353-unit Colony Apartments, built in 1972, would be torn down.

Raleigh's Highwoods to build Nashville headquarters for Bridgestone

November 12, 2014

(The News & Observer, Raleigh)

Raleigh-based Highwoods Properties was selected to develop a 30-story headquarters building for Bridgestone Americas in downtown Nashville, Tenn. The $200 million project totaling more than 500,000 square feet is expected to be completed by the third quarter of 2017. Highwoods owns 23 buildings in Nashville.

Amazon to hire up to 200 in Concord

November 12, 2014

(The Independent Tribune, Concord)

Amazon will open for business next week at Concord Airport Business Park, and the online retail giant will begin hiring 150 to 200 people in January, Concord Mayor Scott Padgett said. Seattle, Wash.-based Amazon will operate a 225,500-square-feet "sortation center" that could eventually employ up to 300.  

Dominion makes final attempt to solicit land owners' cooperation

November 12, 2014

(The News & Observer, Raleigh)

Richmond, Va.-based Dominion Resources sent letters to 226 land owners, including 32 in North Carolina, who have refused to allow the energy company to survey their land for the proposed 550-mile Atlantic Coast Pipeline. Dominion will seek court orders to gain entry onto the properties if the owners refuse to cooperate.
Related: Defenders of Appalachia rally against pipeline