Business

Bayer makes $62B bid for Monsanto

May 23, 2016

(The News & Observer, Raleigh)

Germany's Bayer AG has offered to buy seeds company Monsanto for $62 billion including debt, a merger that could create the world's largest farm supplier. Bayer employs about 1,000 people at its plant science center at Research Triangle Park and has invested more than $150 million in the campus over the last four years.

Kane, Williams Realty team up on major downtown Raleigh project

May 23, 2016

(The News & Observer, Raleigh)

Raleigh-based Kane Realty and Williams Realty & Building Co. plan to invest $85 million to $100 million on the project, which encompasses nearly 4 acres at the corner of West and Peace streets in downtown Raleigh. Plans call for 400 apartments and up to 50,000 square feet of retail space.

Morgan Stanley launches new wealth-management group in Charlotte

May 23, 2016

(The Charlotte Observer)

Harbor Oak Group will join other wealth-management teams in Morgan Stanley's SouthPark area office, with a satellite office in Asheville. The new team will focus on portfolio management strategies with a concentration in small-business and retirement income planning.

New census data shows population shift toward big cities

May 20, 2016

(The News & Observer, Raleigh)

New estimates from the U.S. Census Bureau show North Carolina's uneven growth, with its biggest metros showing large gains while 41% of the 552 communities surveyed lost population, including Fayetteville, Rocky Mount and Jacksonville. Charlotte grew by 17,695 residents, the 10th largest increase in the U.S. Eight of the 25 fastest-growing municipalities in N.C. were in the Triangle. With more than 10 million residents, North Carolina is the nation's ninth-largest state.

Report: Raleigh's Sensus seeking a buyer

May 20, 2016

(WRAL TechWire)

Sensus USA, a Raleigh-based company that develops software and hardware for water and electric meters, is searching for a buyer, according to a Reuters report. The report says a sale could value the company at $1.7 billion, including debt. Currently owned by private-equity firm The Jordan Company, Sensus is working with Goldman Sachs Group and Credit Suisse Group, Reuters says.

NCDOT chooses route for I-26 connector in Western NC

May 20, 2016

(Asheville Citizen-Times)

Environmentalists applauded the N.C. Department of Transportation's choice of a route for the Interstate 26 Connector Project that will connect downtown Asheville with West Asheville via a bridge across the French Broad River. The plan also includes facilities for pedestrians and bicyclists. The route wasn't part of the DOT's original plans, but local groups proposed the idea and convinced the DOT to support the route.

NC Treasurer says corporate roles present no conflict

May 20, 2016

(The News & Observer, Raleigh)

State Treasurer Janet Cowell brushed off criticism about her decision to accept board positions at two publicly traded companies. "I'm used to scrutiny," Cowell said. Critics have questioned her ability to serve as a public official who is the sole fiduciary of the state's $87 billion pension fund while serving on the boards, citing potential conflict of interest. On Wednesday, the State Ethics Commission defended its ruling that she could join the boards.

Concord's Alevo names new CEO

May 20, 2016

Per Dybwad will replace founder Jostein Eikeland as CEO of Alevo SA, the company that is building its GridBanks energy-storage modules at the former Philip Morris cigarette plant in Concord. Dybwad comes from Dentware Scandinavia, a publicly traded 3-D printing company. Eikeland will remain executive chairman and will focus on Alevo's longterm goals.

Report: Raleigh is hottest housing market in NC

May 20, 2016

(The Charlotte Observer)

A study based on data from Zillow shows that Raleigh has the fastest-moving inventory of homes in the state, followed by Durham and Charlotte. Wilmington and Burlington rounded out the top five markets.

 

Wells Fargo cuts more mortgage jobs in Charlotte region

May 20, 2016

(The Charlotte Observer)

San Francisco-based Wells Fargo is eliminating 16 jobs in its mortgage division in Charlotte and Fort Mill, S.C., as delinquent loans continue to fall. The bank could also be preparing to cut information-technology jobs as part of a companywide effort to consolidate functions, according to a memo sent to employees this week. Wells Fargo employs more than 23,000 in the Charlotte area.