Business

Cary-based Pantry to lay off 250

March 18, 2015

(The News & Observer, Raleigh)

Cary-based convenience-store chain The Pantry announced it will lay off 250 workers in Cary and Sanford – about half of its workforce in the two Triangle cities – as a result of the company's merger with Canada-based Alimentation Couche-Tard, which was completed Monday.

Wilmington's nCino receives additional investment

March 18, 2015

(Greater Wilmington Business Journal)

Wilmington-based nCino received an investment from San Francisco-based Salesforce Ventures, which provides the platform on which nCino's Bank Operating System is based. The software company did not disclose the amount of the investment. nCino announced last month it raised $29 million in a financing led by private-equity firm Insight Venture Partners.

2,286 NC residents eligible to file claims in SunTrust settlement

March 18, 2015

(The Charlotte Observer)

More than 2,200 North Carolina residents who lost their homes to foreclosure should begin receiving claim forms this week related to a settlement between Atlanta-based SunTrust Banks and state and federal agencies. Payments will average about $850 per borrower.

FAA approves engines for HondaJet light aircraft

March 18, 2015

(News & Record, Greensboro)

Honda Aero received certification from the Federal Aviation Administration for the engines it produces for the HondaJet light aircraft. Burlington-based Honda Aero is the sister company of Honda Aircraft, which is building the corporate jets at Piedmont Triad International Airport in Greensboro ("Ready to Take Off," February 2014).

UNC Wilmington to narrow list of chancellor finalists

March 18, 2015

(Greater Wilmington Business Journal)

UNC Wilmington officials said they hope to name finalists for school's chancellor position on Thursday. The chancellor search committee plans to submit names of three recommended candidates to the university's board of trustees. If the trustees approve the finalists, UNC System President Tom Ross will conduct interviews over the next several weeks.

New fracking rules take effect Tuesday

March 17, 2015

(WRAL.com)

Companies can begin applying for permits for hydraulic fracturing in North Carolina, and drilling could start later this year. The state Mining and Energy Commission spent two years crafting rules for the practice. The rules were approved in December by a state panel and take effect Tuesday.
Also: As NC fracking moratorium lifts, Lee County awaits wildcatters, The Charlotte Observer

Valeant wins bidding war for Raleigh-based Salix

March 17, 2015

(The News & Observer, Raleigh)

Endo International withdrew its bid for Raleigh-based Salix Pharmaceuticals on Monday after Valeant Pharmaceuticals raised its bid from $158 per share to $173 per share. Including debt, the revised deal is valued at $15.8 billion and is expected to close April 1.

Susquehanna shareholders approve BB&T merger

March 17, 2015

(Winston-Salem Journal)

Shareholders of Lititz, Pa.-based Susquehanna Bancshares approved Friday a proposed merger with BB&T. The $2.5 billion deal, in which Winston-Salem-based BB&T will acquire 245 branches in Pennsylvania, Maryland, New Jersey and West Virginia, is expected to close in the second quarter.

New Hanover approves road-work funds for Vertex Rail

March 17, 2015

(Greater Wilmington Business Journal)

New Hanover county commissioners approved contributing $300,000 toward a $1.5 million road-improvement project to accommodate rail-car maker Vertex Rail Technologies. The city of Wilmington already approved spending $300,000 and the N.C. Department of Transportation will provide the remaining $900,000. Vertex plans to create 1,300 jobs at its local plant.

Charlotte City Council considers proposal for Golf Links property

March 17, 2015

(The Charlotte Observer)

Lincoln Harris appears to face little opposition to its plans to develop a 194-acre site that was home to the Charlotte Golf Links in south Charlotte. Plans for the development, which sits across Providence Road from Childress Klein's Waverly development that is under construction, include up to 1,000 housing units, up to 700,000 square feet of office space and possibly a K-8 public school.
Related: Major mixed-use development planned at I-485 and Brookshire Boulevard