Business

Duke Energy taps Fountain as NC president

July 23, 2015

(The Charlotte Observer)

David Fountain, senior vice president of enterprise legal support at Duke Energy, will become the utility's North Carolina president on Sept. 1. Fountain joined CP&L, the predecessor of Progress Energy, which merged with Duke in 2012, in 2000. He will be based in Raleigh and succeeds Paul Newton, who is retiring.

Wells Fargo is world's most valuable bank

July 23, 2015

(The Charlotte Observer)

With a market cap of $298.4 billion, Wells Fargo has overtaken Industrial & Commercial Bank of China to become the world's most valuable bank. The fourth-largest U.S. bank by assets, Wells Fargo has its largest employee base in Charlotte.
Related: Wells Fargo laying off 91 in Fort Mill mortgage unit

NC's jobless rate ticks up to 5.8%

July 22, 2015

(The Charlotte Observer)

North Carolina's unemployment rate increased to 5.8% in June, up a notch from 5.7% in May. The change was largely due to a decrease in government jobs: While the private sector added 4,700 jobs, the government sector lost 7,800.

Wilmington, New Hanover approve incentives for AAI Pharma expansion

July 22, 2015

(StarNews, Wilmington)

Wilmington and New Hanover County agreed to award AAI Pharma up to $500,000 in incentives for a proposed expansion. The company is considering a $20 million investment that would create 50 jobs with an average annual salary of $77,000.

Extended Stay names new CEO

July 22, 2015

(The Charlotte Observer)

Extended Stay America named Gerry Lopez, chief executive of movie-theater chain AMC Entertainment, as its new CEO. Lopez will replace Jim Donald, the former Starbucks CEO who has led the Charlotte-based hotel chain since 2012 ("The suitcase CEO," August 2014).

High Point approves incentives for HAECO expansion

July 22, 2015

(Winston-Salem Journal)

The High Point City Council unanimously approved incentive totaling $147,000 for HAECO Americas, formerly Timco Aviation, to add 147 jobs and transfer 252 existing ones to a 250,000-square-foot building south of Interstate 40.

Wilmington City Council says no to offshore drilling

July 22, 2015

(StarNews, Wilmington)

The Wilmington City Council voted unanimously Tuesday to oppose offshore drilling and seismic testing for oil and natural gas. Wilmington joins at least 15 local communities in North Carolina who have passed resolutions opposing the practice. Gov. Pat McCrory and other supporters have said offshore drilling would add jobs and boost the state's economy (Statewide, July).

Catawbas consider $350 million movie-studio project in SC

July 22, 2015

(The Charlotte Observer)

The Catawba Indians are considering spending $350 million on a development in York County, S.C., that would include movie studios, a cultural center, hotel and more. Tribal leaders are working with Studio South's Bert Hesse, who in 2013 proposed a $125 million film studio project at the site of the former Eastland Mall in Charlotte.

Uber growing in NC

July 22, 2015

(The Charlotte Observer)

Uber wants to add 5,000 drivers to the 8,000 the company already has in North Carolina. The San Francisco-based ride-hailing service plans to team up with social-services organizations to find people looking for work.

NC Biotech Center awards $1.8M

July 22, 2015

(WRAL TechWire)

The N.C. Biotech Center awarded $1.8 million in loans and grants during the last quarter. Among 27 companies and universities receiving funding were Chapel Hill-based KindHeart and Durham-based Akros Medical.