Business

Cisco to add 550 jobs at RTP

June 9, 2014

(WRALTechWire.com)

Cisco Systems will expand its workforce at Research Triangle Park by 10% and will invest $1.6 million. Average annual salary for the 550 new jobs will be $72,700. The San Jose, Calif.-based telecommunications equipment manufacturer will receive up to $12.9 million in state incentives.

Icahn buys 9.4% stake in Family Dollar

June 9, 2014

(The Charlotte Observer)

Investor Carl Icahn has purchased a 9.4% stake in Matthews-based Family Dollar. In a securities filing, Icahn said he possibly will seek a seat on the board of directors or "explore strategic alternatives" for the company. The discount retailer laid off 135 workers at its headquarters in April and announced plans to close 370 stores.

Pinehurst readies for back-to-back U.S. Opens

June 9, 2014

(News & Record, Greensboro)

The U.S. Open's success in Pinehurst is due in part to support from metro areas including Charlotte, Greensboro and Raleigh, according to Reg Jones, the Open's director of operations. Officials expect up to 55,000 people per day to attend this week's Open and as many as 25,000 for the Women's Open next week.

NewBridge Bank looks to SC, Virginia markets for expansion

June 9, 2014

(Winston-Salem Journal)

NewBridge Bank may be looking to expand in South Carolina and Virginia markets, based information presented at a recent shareholder meeting. The Greensboro-based bank has $2.4 billion in assets and recently completed acquisitions of Raleigh-based CapStone Bank and Southport's Security Savings Bank.

BofA negotiating $12 billion settlement over mortgage probes

June 9, 2014

(The Charlotte Observer)

Bank of America is in the early stages of negotiating a settlement of at least $12 billion over federal and state investigations of its mortgage-banking practices that preceded the 2008 financial crisis.

Clinton awarded $1.75M grant for infrastructure for biofuels plant

June 9, 2014

(The News & Observer, Raleigh)

The town of Clinton has received a $1.75 million federal grant to pay for water and sewer infrastructure for a biofuels plant. Italy-based Biochemtex announced in December it will invest $200 million and create 65 jobs at the Sampson County plant, which will create fuel from regionally grown energy grasses.

Greensboro makes short list for Stone Brewing expansion

June 9, 2014

(News & Record, Greensboro)

Greensboro is one of six locations Stone Brewing Co. is considering for an East Coast brewery. The California beer company plans to invest $29 million and hire more than 300 people in its expansion plant. Asheville, Charlotte and Wilmington also submitted bids for the project.

Piedmont Natural Gas reports growth in revenue, profits

June 9, 2014

(The Charlotte Observer)

Piedmont Natural Gas reported second quarter profits of $63 million and revenue of $462 million, 16% higher than the same period a year ago. An increase in new residential construction led to 22% growth in new customers.

Edgecombe County electronics manufacturer receives environmental award

June 9, 2014

(Rocky Mount Telegram)

Keihin Carolina System Technology was among 20 N.C. companies that reached the highest level of the state's Environmental Stewardship Initiative. The plant began improving efficiency in 2011 by eliminating waste and switching from incandescent light bulbs to LED ones.

BNC Bancorp to buy Charleston's Harbor National Bank

June 6, 2014

(Winston-Salem Journal)

BNC Bancorp will acquire Charleston, S.C.-based Harbor Bank Group for $50.6 million. High Point-based BNC will gain $306 million in assets when the deal is completed later this year, raising its total assets to about $4 billion.