Business

Imperial Tobacco hopes to revive Winston brand

July 16, 2014

(News & Record, Greensboro)

Imperial Tobacco Group said it plans to make Winston brand cigarettes the face of its U.S. marketing strategy and will distribute blu eCigs, the top-selling U.S. electronic cigarette brand, worldwide. 

CoreLogic to close Charlotte office

July 16, 2014

(The Charlotte Observer)

Irvine, Calif.-based CoreLogic will close its Charlotte office, laying off 46 workers by October. The company provides real-estate data and mortgage-document processing.

Vermont company acquires Raleigh's Gamila Products

July 16, 2014

(The News & Observer, Raleigh)

Raleigh-based Gamila products was acquired by Vermont-based Seventh Generation, which sells environmentally friendly household and personal-care products. Gamila sells products for brewing single-servings of coffee and tea.

Reynolds American to buy Lorillard for $27.4 billion

July 15, 2014

(Winston-Salem Journal)

Winston-Salem-based Reynolds American has agreed to purchase Greensboro-based Lorillard for $27.4 billion. As part of the deal, United Kingdom-based Imperial Tobacco Group will buy selected brands including blu eCigs and will acquire Lorillard's Greensboro manufacturing operations where the tobacco company employs 2,900.

IT company could bring 1,200 jobs to Cary

July 15, 2014

(The News & Observer, Raleigh)

North Carolina is offering more than $17 million in incentives to lure a technology and engineering company to Cary. The unidentified company would create 1,237 jobs over three years.

Record orders mean jobs, investment at New Hanover GE Aviation plant

July 15, 2014

(Greater Wilmington Business Journal)

Following a record-breaking year in 2013, GE Aviation's joint venture CFM International has taken orders totaling about $25 billion so far this year. The company's plant in Castle Hayne will get a $65 million upgrade and 35 new jobs to keep up with production.

Johnston Community College opts out of federal student loans

July 15, 2014

(Smithfield Herald)

Students at Johnston Community College can no longer receive student loans from the federal government. The school opted out of the program due to a rising default rate that could jeopardize its federal funding.

WakeMed, UNC Hospitals face penalties under new Medicare rating system

July 15, 2014

(The News & Observer, Raleigh)

Raleigh's WakeMed and Chapel Hill's UNC Hospitals could face millions of dollars in penalties under the Affordable Care Act. The hospitals are among 16 in North Carolina that Medicare has listed as the "worst-performing" regarding patient complications and infections.

Beer festival could be Western NC's largest ever

July 15, 2014

(Asheville Citizen-Times)

Sierra Nevada's Beer Camp Across America could be the biggest beer festival ever held in Western N.C. Up to 5,000 tickets will be sold, and 120 breweries will be represented at the Aug. 3 event in Mills River.

Citigroup agrees to $7B mortgage settlement

July 15, 2014

(The Charlotte Observer)

Following Citigroup's announcement of a $7 billion settlement to resolve claims over securities tied to risky mortgages, experts say Bank of America is likely to settle over similar claims rather than go to trial. Talks between the bank and the Justice Department stalled in June after BofA offered to pay about $5 billion less than the $17 billion the Justice Department was seeking.