Business

Lenovo reports fourth-quarter results

May 22, 2015

(The News & Observer, Raleigh)

Revenue for computer-maker Lenovo rose 21% in the fourth quarter to $11.3 billion, a figure that would have been higher if not for currency fluctuations. Fourth-quarter net income fell 37% to $100 million, but still beat analysts' expectations of $91.6 million.

Charlotte No. 3 in population growth

May 21, 2015

(The Charlotte Observer)

New census estimates show Charlotte's population grew 2% between 2013 and 2014, reaching 809,958. It was the third-fastest growing big city between 2010 and last year, behind Austin, Texas and New Orleans, with a growth rate of 10.7%. Raleigh's population grew 8.9% during the same time period.
Related: Rolesvile has become NC's new boomtown

Ashley Furniture adding up to 300 jobs in Davie County

May 21, 2015

(Winston-Salem Journal)

Citing increased product demand, Ashley Furniture Industries plans to expand its manufacturing and distribution center in Advance and will hire up to 300 employees. The furniture company currently employs about 900 at the center.

Bank of America fined $205 million

May 21, 2015

(The Charlotte Observer)

The Federal Reserve on Wednesday imposed massive fines against six banks, including Charlotte-based Bank of America. Bank of America must pay $205 million in fines related to foreign-trading practices from 2008 to 2013. A bank spokesman said the fines will be covered with existing reserves.

Cary software company raises $16M, adding 50 jobs

May 21, 2015

(The News & Observer, Raleigh)

Cary-based software company Samanage raised $16 million in a second round of funding and plans to double its workforce, adding 50 employees over the next year. The company makes cloud-based IT-management software.

New Hanover Regional begins ER expansion

May 21, 2015

(StarNews, Wilmington)

New Hanover Regional Medical Center begins Thursday a renovation project that will double the number of beds to 108 in its 17th Street Emergency Department in Wilmington. The project, which will increase the department's space from 17,800 to 48,000 square feet, is expected to be complete by spring 2017.

Procter & Gamble to increase production in Guilford County

May 21, 2015

(News & Record, Greensboro)

Procter & Gamble will close a factory in Puerto Rico, shifting production to its Browns Summit plant. The company said 230 jobs will be cut in Puerto Rico, but that doesn't mean it will add as many jobs at the Guilford County plant, where it currently employs about 1,000 people and makes products including deodorant and toothpaste.

Greenboro OKs engineering study for megasite

May 21, 2015

(News & Record, Greensboro)

Greensboro City Council approved a $2.3 million engineering contract to study adding water and sewer service at the Greensboro-Randolph Megasite.

Duke Energy to shutter Asheville coal plant

May 20, 2015

(Asheville Citizen-Times)

Duke Energy Progress said Tuesday it will close its 376-megawatt, coal-fired power plant at Lake Julian within five years. The utility will build a new 650-watt, natural gas-fired plant that also will utilize solar energy. Duke plans to invest $1.1 billion in the project, which includes a new transmission substation in South Carolina. Pending state regulatory approval, the new plant could go online by 2020.

Cardinal says Shipman was forced out

May 20, 2015

(The Charlotte Observer)

Leaders of Kannapolis-based Cardinal Innovations Healthcare Solutions said longtime CEO Pam Shipman was forced to retire as a result of long-standing performance issues. Richard Topping will become acting CEO of the managed-care organization, which oversees $635 million in government spending for behavioral health.