Business

DENR: Duke must fix leaky pipes at coal-ash ponds

June 18, 2014

(The News & Observer, Raleigh)

The state Department of Environment and Natural Resources has ordered Duke Energy to fix leaky pipes at coal-ash ponds at five power plants in Western N.C. The Charlotte utility has until July 17 to submit a schedule for the repairs.

SC announces 3,900 jobs; NC failed to win projects

June 17, 2014

(The Charlotte Observer)

At least 3,900 new jobs are coming to York and Chester counties in S.C. Singapore-based Giti Tire will create 1,700 jobs and invest $560 million in a tire manufacturing plant in Chester County, about 40 miles south of Charlotte. Lash Group and LPL Financial will move a combined 2,200 jobs from Charlotte to Fort Mill in York County.

Canadian sock manufacturer to create 205 jobs in Burke County

June 17, 2014

(The Charlotte Observer)

Canada-based Richelieu Legwear will create 205 jobs and invest $16 million by the end of 2018 in a sock-manufacturing plant in Burke County. The company, which currently employs 60 at a plant in Hildebran, will receive up to $2.9 million in state incentives if it meets job-creation targets.

Raleigh tech startup raises $7M, names new CEO

June 17, 2014

(The News & Observer, Raleigh)

Technology startup Valencell has raised $7 million in venture capital and named Michael Dering CEO. The Raleigh-based company employs 20 and develops biometric sensors for wearable fitness products. 

Novartis gets FDA approval for new flu vaccine at Holly Springs plant

June 17, 2014

(WRAL TechWire)

Novartis received FDA approval to produce a new type of flu vaccine at its Holly Springs manufacturing plant. Through a federal government contract, the plant will produce enough of the antibiotic- and preservative-free flu vaccines to be prepared for a potential pandemic threat.

Asheville a Top 10 Foodie City

June 17, 2014

(Asheville Citizen-Times)

Livability.com ranked Asheville No. 4 on its list of Top Ten Foodie Cities for 2014. The website cited restaurants' use of products from local farms, the area's 18 craft breweries and James Beard-nominated chefs.

BofA's Merrill Lynch fined $8M for overcharging investors

June 17, 2014

(The Charlotte Observer)

Bank of America's Merrill Lynch unit must pay an $8 million fine and $24.4 million in restitution over claims it overcharged customers by failing to waive mutual fund fees. About 41,000 small-business retirement plans and 6,800 charities and retirement plan accounts for ministers and school employees were affected.

Fayetteville airport terminal to get $25M renovation

June 17, 2014

(The Fayetteville Observer)

The 45-year-old Fayetteville Regional Airport will undergo a $25 million terminal renovation. The project, which could begin in 2017, will be funded mostly by $20 million from the Federal Aviation Administration.

Construction to begin on second Edison apartment project in Raleigh

June 17, 2014

(The News & Observer, Raleigh)

Cleveland-based NRP Group will begin construction on a 223-unit apartment complex in downtown Raleigh next week. It is the second of three phases of the office and residential Edison project. Construction on the final phase, a 315,000-square-foot office building, is expected to begin in the first quarter of 2015.

North Carolina CEO pay rises 14%

June 16, 2014

(The Charlotte Observer)

Median pay rose 14% in 2013 for CEOs of the top 50 publicly traded companies based in North Carolina. Generally, more executives now are being compensated through salary and stock awards rather than stock options. Robert Niblock, CEO of Mooresville-based Lowes Inc., earned the most at more than $18 million in total compensation.