Business

Durham approves deal for AT&T fiber network

June 13, 2014

(The News & Observer, Raleigh)

Durham joins Cary and Winston-Salem in approving an agreement for AT&T to build a local fiber network that will enable the telecommunications company to provide Internet speeds up to 20 times faster than most broadband networks. Construction will begin in the next few weeks.

Charlotte buses to add routes for airport travelers

June 13, 2014

(The Charlotte Observer)

Charlotte's transit system will add two new bus routes next week to shuttle people from terminals at Charlotte Douglas International Airport to remote park-and-ride lots. The shuttles will help the airport deal with congestion this summer while new hourly parking decks are under construction.

Rod Higgins out as head of basketball ops at Charlotte Hornets

June 13, 2014

(The Charlotte Observer)

The Charlotte Hornets announced that Rod Higgins has stepped down as president of basketball operations just two weeks before the NBA draft.

BofA, Justice Department deadlocked over mortgage settlement

June 12, 2014

(The Charlotte Observer)

Negotiations to resolve investigations into Bank of America's role in the mortgage crisis have stalled. The Charlotte-based bank had offered to pay a settlement of more than $12 billion, which was less than the $17 billion the Justice Department had sought. The United States is said to be preparing a civil complaint against the bank.

Hospitals closely watching Medicaid debate in state legislature

June 12, 2014

(The Fayetteville Observer)

Hospitals in North Carolina will be lobbying for the Medicaid spending plan in the state House budget proposal, which does not include major cuts to the program as proposed in the N.C. Senate's budget plan.

Pisgah Inn operator will fight for contract renewal

June 12, 2014

(Asheville Citizen-Times)

The park-concession contract to run the Pisgah Inn on the Blue Ridge Parkway is open for bid. Bruce O'Connell, who gained national attention last year when he defiantly kept the inn open during the federal government shutdown, has operated it for 40 years but now will face competition from larger companies with deep capital.

BASF completes RTP expansion, will invest more in agricultural products

June 12, 2014

(The News & Observer, Raleigh)

BASF has completed a $30 million expansion at Research Triangle Park and the company plans to double its investment in its Plant Science division over the next five years. BASF employs more than 1,000 people at three locations in North Carolina.

Raleigh approves initiative to recruit startups

June 12, 2014

(WRALTechWire.com)

The Raleigh City Council will develop a startup recruitment plan to help lure businesses in fields including technology, social innovation and fashion.

Raleigh's First Citizens to acquire SC-based bank

June 11, 2014

(The News & Observer, Raleigh)

Raleigh-based First Citizens Bancorp will merge with the parent company of Columbia, S.C.-based First Citizens Bank and Trust, a privately held bank with 176 branches. Frank Holding Jr., chairman and CEO of the Raleigh-based First Citizens, will lead the combined bank. The Holding family owns a controlling interest in both banks.

B/E Aerospace plans to split into two companies

June 11, 2014

(Winston-Salem Journal)

B/E Aerospace revealed plans to split the Wellington, Fla.-based company into two publicly traded corporations. One would focus on the manufacturing of aircraft cabin equipment, and the other would handle distribution, logistics and technical services. B/E's largest U.S. operations are in Winston-Salem, where it employs more than 1,300.