Business

Rite Aid closing Charlotte distribution center

March 10, 2016

(The Charlotte Observer)

As announced last year, Rite Aid will close a Charlotte distribution center and lay off 270 workers by June 18. Affected workers will be given the opportunity to apply for jobs at the company's new distribution center in Spartanburg, S.C.

Ross, Eshelman join Valeant board of directors

March 10, 2016

(The News & Observer, Raleigh)

Former UNC President Tom Ross and PPD founder Fred Eshelman will join the board of directors at Valeant Pharmaceuticals. The Canada-based company last year acquired Raleigh-based drug developers Salix Pharmaceuticals and Sprout Pharmaceuticals. Valeant is the target of an SEC investigation and has been scrutinized for raising drug prices, including in a recent campaign ad by Hillary Clinton.

Brunswick County a haven for retirees, other newcomers

March 10, 2016

(StarNews, Wilmington)

Brunswick County has added about 31,000 residents over the last 10 years, including 11,000 people in the over-65 age group. A low cost of living and mild climate are major draws, says Bill Sue, a longtime county commissioner.

Charlotte Food Lion stores getting a $215 million makeover

March 10, 2016

(The Charlotte Observer)

Food Lion will spend $215 million to remodel 142 stores in the Charlotte region, though the figure also includes stores in Boone and Blowing Rock. The Salisbury-based grocer already completed store remodels in Wilmington, Greenville and Raleigh markets.

Reynolds leads industry in cigarette sales growth

March 10, 2016

(Winston-Salem Journal)

Sales of traditional cigarettes increased 4% in February for Reynolds American, compared with a 2.4% increase for the industry as a whole, according to Wells Fargo analyst Bonnie Herzog. Sales of Newport rose 5.5%, while Camel sales rose 3.3% and Natural American Spirit rose 22.9%.

Carolinas HealthCare plans $150M cancer center expansion

March 9, 2016

(The Charlotte Observer)

Carolinas HealthCare System will spend $125 million to build a new outpatient center for cancer patients and $20 million to renovate 32 patient rooms at Carolinas Medical Center in Charlotte. Another $5 million will go toward renovations at the 4-year-old Levine Cancer Institute, which sees 15,000 newly diagnosed cancer patients a year.

NC lifts ban on drinking water near coal-ash ponds

March 9, 2016

(The Charlotte Observer)

State Health officials told hundreds of residents living near Duke Energy's coal-ash ponds that their well water is fine, lifting an advisory issued nearly a year ago when high levels of contaminants were discovered. The ban was lifted after the state determined previous groundwater standards were too stringent. Some residents, who have been drinking bottled water for nearly a year, aren't convinced the water is safe. "They've already scared people, and it's hard to unscare scared people," said Tad Helmstetler, Rowan County's environmental health manager.

Raleigh's Valencell closes on $11M financing

March 9, 2016

(The News & Observer, Raleigh)

Valencell, which develops technology for wearable electronics, raised $11 million in a round of financing led by GII Tech, a venture fund started by Gulf Islamic Investments of the United Arab Emirates. The money will be used for R&D and business development, CEO Michael Dering said in a statement. Meanwhile, Fitbit on Tuesday filed a counterclaim to Valencell's patent infringement lawsuit against the company.

Vidant Health, ECU to align programs

March 9, 2016

(The Daily Reflector)

Vidant Health and ECU's Brody School of Medicine will begin integrating patient care operations, clinical operations and clinical research activities throughout eastern North Carolina. The goal is to create a new, national model for providing rural health care while improving care and expanding educational opportunities for future doctors.

Supreme Court rejects BB&T, others in tax case

March 9, 2016

(The Charlotte Observer)

The U.S. Supreme Court rejected three separate appeals by Bank of New York Mellon, AIG and a unit of BB&T. The companies were seeking to overturn previous rulings that invalidated a tax-avoidance strategy developed by Barclays. Winston-Salem-based BB&T was trying to recoup $600 million from the IRS.