Business

Durham's Square 1 Bank reports record net income in fourth quarter

January 22, 2015

(The News & Observer, Raleigh)

Square 1 Financial reported net income of $9.5 million in the fourth quarter, compared with $8.8 million in the previous quarter. The Durham-based bank, which lends money and provides other banking services to venture-capital firms, said net income for 2014 rose 54% compared with 2013, to $34.1 million.

New Hoke County hospital could open by March

January 22, 2015

(The Fayetteville Observer)

Construction is almost complete at Cape Fear Valley Health's Hoke County hospital, which could open its doors in February or March. The 41-bed hospital is less than 3 miles from FirstHealth of the Carolinas' eight-bed hospital that opened in October 2013.

Chapel Hill's Milton Julian dies at 96

January 22, 2015

(The News & Observer, Raleigh)

Milton Julian, who owned the iconic Milton's Clothing Cupboard in downtown Chapel Hill from 1948 until 1992, died Saturday. He was 96. 

Cumberland commissioners approve hearing for chicken plant

January 21, 2015

(The Fayetteville Observer)

Cumberland County commissioners approved a public hearing for a Sanderson Farms chicken-processing plant that could create 1,000 jobs, though the Mississippi-based company says it is no longer interested in building a plant there. 

Report: Salix hires investment firm to explore potential sale

January 21, 2015

(The News & Observer, Raleigh)

Salix Pharmaceuticals has hired Centerview Partners to explore options for the Raleigh-based drugmaker, including a possible sale, according to a Reuters report. Salix CEO Carolyn Logan announced her retirement earlier this month, leading to speculation that the company was looking to be acquired.

Federal approval of tobacco merger advancing

January 21, 2015

(Winston-Salem Journal)

Reynolds American and Lorillard said in a joint regulatory filing they are cooperating with the Federal Trade Commission and approval of their $27 billion deal is advancing. Wells Fargo Securities analyst Bonnie Herzog said she believes the FTC could approve Winston-Salem-based Reynolds' acquisition of Greensboro-based Lorillard as soon as March or April.

Raleigh delays decision on Airbnb

January 21, 2015

(The News & Observer, Raleigh)

Raleigh City Council will let a committee study whether to legalize Airbnb and other short-term home-rental companies. The committee will be led by Councilwoman Mary Ann Baldwin, who has supported local users of Airbnb, which allows homeowners to rent their houses to travelers for nightly stays.

Duke Energy's sale of Midwestern power plants delayed

January 21, 2015

(The Charlotte Observer)

Duke Energy's $2.8 billion sale of 10 Midwestern power plants to Houston-based Dynegy has been delayed after a federal agency asked for a more detailed economic analysis of the deal. The sale was expected to close by February, but the companies no longer expect to complete the deal before the end of the first quarter, Duke said in a securities filing. 

ECU chancellor says medical school at risk

January 21, 2015

(The Daily Reflector, Greenville)

ECU Chancellor Steve Ballard said the Brody School of Medicine's ability to train doctors is threatened by the state legislature's rejection of Medicaid expansion, which restricts federal funding.

PART moving a step closer to new Triad bus terminal

January 21, 2015

(High Point Enterprise)

The Piedmont Authority for Regional Transportation could open a new bus terminal and maintenance center in fall 2016. The group is about to complete a purchase of the last parcel of land on the 7-acre site in west Greensboro.