Business

First Citizens to acquire Atlanta-based community bank

February 16, 2015

(Winston-Salem Journal)

First Citizens Bank of Raleigh will acquire Capitol City Bank & Trust, a community bank based in Atlanta with eight branches and $275 million in assets. Its the bank's seventh FDIC-brokered acquisition since the financial crisis began in 2007.

IMC buys High Point's Commerce & Design building for $11.2M

February 16, 2015

(High Point Enterprise)

International Market Centers paid $11.2 million for the 9-story Commerce & Design building in downtown High Point, public records show. Based in Las Vegas and High Point, the company plans to invest $2 million in the 257,180-square-foot building over the next five years. The purchase expands its local holdings to 6.7 million square feet.

Report: Canadian pharmaceutical may make bid for Salix

February 16, 2015

(The News & Observer, Raleigh)

Canadian drugmaker Valeant Pharmaceuticals has lined up financing for a possible acquisition of Raleigh-based Salix Pharmaceuticals, according to a report from Bloomberg News. Valeant could offer more than $150 a share, the report says. Salix, which makes drugs for gastrointestinal illnesses, canceled a planned $2.7 billion merger with Italy-based Cosmo Pharmaceuticals last fall.

Loan default won't impact shoppers, tenants at Wilmington mall

February 16, 2015

(StarNews, Wilmington)

A $110 million delinquent loan will not affect day-to-day operations at Wilmington's Independence Mall, according to a spokeswoman from the property-management group that runs the 1 million-square-foot shopping center.

Pittenger looks to ease regulation for community banks

February 16, 2015

(The Charlotte Observer)

U.S. Rep. Robert Pittenger says tighter regulations are hurting the banking industry, especially community banks. Pittenger, of Charlotte, and Rep. Patrick McHenry of Lincolnton and Mick Mulvaney of Indian Land, S.C., are members of the House Financial Services Committee, which will look for ways to ease the burden of Dodd-Frank regulations, Pittenger said.

Lenovo finds success with its ThinkPad products

February 16, 2015

(The News & Observer, Raleigh)

Despite growing competition from rivals including Apple, Lenovo reached the milestone of selling 100 million ThinkPad laptops in December. The world headquarters for the China-based company's ThinkPad brand of products is in Morrisville.
Also: RTP campus leased to Lenovo sells for $127M

Road projects underway in Greensboro area

February 16, 2015

(News & Record, Greensboro)

Nearly $630 million in road-construction projects are underway or about to get started around Greensboro, including two segments of the Greensboro Urban Loop. A spokesman from the N.C. Department of Transportation says the Greensboro area is at or near the top statewide for the number of major road projects in progress.

Report reveals NC's top lobbyists and political spenders

February 13, 2015

(StarNews, Wilmington)

The Institute for Southern Studies released a report on the top Tar Heel power brokers. The list was led by Charlotte-based Duke Energy, Nationwide Insurance & Affiliates and the nonprofit N.C. Association of Realtors.

NC Research Campus adding 3rd spec laboratory

February 13, 2015

(The Independent Tribune, Concord)

The North Carolina Research Campus in Kannapolis will invest $1.5 million on construction of a third speculative laboratory suite. Construction will begin this spring on the space, which will total at least 4,800 square feet and can accommodate several companies.

Quintiles cutting 270 jobs

February 13, 2015

(The News & Observer, Raleigh)

Durham-based Quintlies will lay off 270 workers worldwide, less than 1% of its workforce of 32,600. The company hasn't said how many of the contract-research organization's 2,500 Triangle employees will be affected by the job cuts, which are the result of a corporate restructuring.