Business

Asheville awaits brewery announcement

February 5, 2016

(Asheville Citizen-Times)

Deschutes Brewery will announce in about a month where it plans to build its East Coast brewery. The Bend, Ore.-based beer company is believed to be considering Asheville; Roanoke, Va.; and Charleston and Greenville, S.C. The brewery would create 100 jobs and is expected to become a tourist destination similar to Sierra Nevada's Mills River brewery.

Southern Pines retailer to appear on ABC's Shark Tank

February 5, 2016

(The Pilot, Southern Pines)

R. Riveter, a retailer of handbags and accessories in Southern Pines, will pitch their business to investors on ABC's Shark Tank Friday night at 9 p.m. Co-founders Cameron Cruse and Lisa Bradley, both military spouses, started the company in Cruse's attic making handbags out of recycled military materials. The company now employs 12 people and 12 contractors.

ChannelAdvisor reports record Q4 revenue

February 5, 2016

(The News & Observer, Raleigh)

Morrisville-based ChannelAdvisor surprised analysts when it reported a 24% increase in revenue in the fourth quarter. Quarterly revenue for the e-commerce company totaled $29.4 million, up from $23.8 million a year ago and higher than the $26.5 million analysts had projected. Annual revenue topped $100 million for the first time.

Earnings report roundup

February 5, 2016

Old Dominion finished 2015 on solid profit note, Winston-Salem Journal
Hanesbrands posts record 2015 despite softer fourth-quarter sales, Winston-Salem Journal
Credit Suisse announces 4,000 jobs cuts amid big Q4 loss, The Charlotte Observer

NC Biotech Center awards $1.6M in grants

February 5, 2016

(WRAL TechWire)

The North Carolina Biotechnology Center awarded 18 loans and grants totaling more than $1.6 million to advance life-sciences technologies in the state. Recipients include researchers at Duke University, N.C. State University and UNC Greensboro.

Lowe's to acquire Canada-based Rona for $2.3B

February 4, 2016

(The Charlotte Observer)

Mooresville-based Lowe's will pay $2.3 billion for Rona, a home-improvement retailer with almost 500 stores. In 2012, the Canadian company rejected a hostile bid by Lowe's. "We're in a much better place than we were in 2012," Lowe's CEO Robert Niblock said.

Wake Forest Baptist buying High Point physician group

February 4, 2016

(High Point Enterprise)

Wake Forest Baptist Medical Center will purchase Cornerstone Health Care, a High Point-based physicians group with more than 300 providers. Cornerstone will operate as a separate business unit of the Winston-Salem-based hospital; a news release says more details will be provided after a due diligence period.

Triangle Capital promotes Poole to CEO

February 4, 2016

(The News & Observer, Raleigh)

Triangle Capital co-founder Garland Tucker III has stepped down as CEO; Ashton Poole, president and chief operating officer, will succeed him. Tucker will stay on as chairman of the Raleigh-based investment firm with nearly $1 billion of assets under management.

Wells Fargo cuts more mortgage jobs in Charlotte, Raleigh

February 4, 2016

(The Charlotte Observer)

The San Francisco-based lender is cutting 87 jobs in Raleigh and 68 jobs in Charlotte and Fort Mill, S.C., due to declining foreclosure rates and fewer people defaulting on their home loans. Wells, the largest U.S. mortgage lender, also announced Wednesday it will pay $1.2 billion to settle a mortgage dispute with the federal government.

Full slate of projects for Yadkin commissioners

February 4, 2016

(Winston-Salem Journal)

On Monday, Yadkin County commissioners will consider business incentives for four projects, including manufacturer Lydall, which is considering a $16 million expansion that would create 48 jobs.