Business

Volvo subsidiary opens Davie County plant

May 29, 2015

(Winston-Salem Journal)

Dex Heavy Duty Parts, a subsidiary of the Volvo Group, held a ribbon-cutting ceremony at its Advance plant where the company recycles heavy truck parts. The company employs 38 full-time workers.

NC jobless rate rises to 5.5%

May 28, 2015

(WRAL.com)

North Carolina's unemployment rate inched up to 5.5% in April, compared with 5.4% in March. The U.S. rate was 5.4%. The state's labor force rose by 65,000 between February and April.
Also: Increase in jobless rate may signal economic plateau

Consultant says Charlotte needs medical school

May 28, 2015

(The Charlotte Observer)

Charlotte needs a four-year medical school and expanded residency programs to meet workforce needs, according to a Pittsburgh-based health care consultant. Paul Umbach says the most "feasible and cost effective" way to develop a school would be through a partnership between UNC School of Medicine, which operates a Charlotte campus at Carolinas Medical Center, and UNC Charlotte.

NCCU chancellor accused of racism, misuse of public funds

May 28, 2015

(WRAL.com)

Three former employees of N.C. Central University have filed lawsuits against Chancellor Debra Saunders-White, accusing her of racial discrimination against non-blacks and creating a hostile work environment. The lawsuits also claim Saunders-White spent state funds for personal use.

Moynihan says BofA trading unit may face deeper cuts

May 28, 2015

(The Charlotte Observer)

Bank of America CEO Brian Moynihan says the Charlotte-based company will have to keep cutting expenses in its markets trading division unless revenue improves.

Cape Fear Valley to add 17 beds to ER

May 28, 2015

(The Fayetteville Observer)

Cape Fear Valley Health System plans to renovate the emergency department at its main campus in Fayetteville, bringing the total number of beds there to 92.
Related: ER visits on the rise in Carolinas, US

Record job growth lifts Asheville housing market

May 28, 2015

(Asheville Citizen-Times)

Local job growth – which is twice the national average over the last year, according to an economist with Nationwide Insurance –  and steep rents are contributing to a strong housing market in Asheville.

Sausage plant to create 177 jobs in Clinton

May 27, 2015

(The Fayetteville Observer)

In a joint venture with Smithfield Foods, Kansas City Sausage will open a 90,000-square-foot plant in Sampson County and plans to create 177 jobs. Construction is expected to begin immediately and will be completed by June 2016.

Reynolds-Lorillard merger gains FTC approval

May 27, 2015

(Winston-Salem Journal)

The Federal Trade Commission has approved the $27 million deal in which Reynolds American would acquire rival cigarette-maker Lorillard. The companies are still awaiting federal approval to sell five brands to Imperial Tobacco Group for $7.1 billion.

Yadkin County looks for state help to re-open shuttered hospital

May 27, 2015

(Winston-Salem Journal)

Yadkin County commissioners are seeking state help in reopening Yadkin Valley Community Hospital, which closed abruptly Friday. The county and HMC/CAH Consolidated, which operates the 20-bed hospital, failed to negotiate a lease extension.