Business

Krispy Kreme adding 10 shops in Myanmar

August 26, 2015

(Winston-Salem Journal)

Krispy Kreme Doughnuts will become one of the first western brands to enter Myanmar, formerly Burma, when it adds 10 shops there through a franchisee agreement. The Winston-Salem company has more than 1,000 locations, including 700 international shops.

Tiger Woods helps drive huge ratings for Greensboro tournament

August 25, 2015

(The News & Record, Greensboro)

With Tiger Woods in contention, Greensboro's Wyndham Championship on Sunday drew the biggest TV ratings for a nonmajor golf tournament in more than two years. Woods was two shots off the lead when the final round started on Sunday, but finished tied for 10th place. Charlotte native Davis Love III won by one stroke.

Sycamore Partners buys Belk for $3 billion

August 25, 2015

(The Charlotte Observer)

Charlotte-based Belk, the nation's largest family-owned department store chain, agreed to be bought by New York-based private equity firm Sycamore Partners for $3 billion, including the company’s debt. While the company told employees no major changes are planned, analysts say the new owners will probably close stores and cut jobs to improve profitability. Belk's headquarters will stay in Charlotte, and Tim Belk will remain chief executive officer. The deal is expected to close in the fourth quarter this year, pending regulatory approval.  


Read more here: http://www.charlotteobserver.com/news/business/article32006829.html#storylink=cpy

Building-products company adding 72 manufacturing jobs in Kinston

August 25, 2015

(WRAL.com)

Associated Materials, an Ohio-based company that makes vinyl windows, siding and fencing, will invest $4.5 million and add 72 jobs in a plant expansion in Kinston. The company's brands include Alpine Windows, Ultraguard and Revere.

Durham's Hatteras Venture Partners raises $90 million

August 25, 2015

(The News & Observer, Raleigh)

Hatteras Venture Partners has raised over $90 million of a $150 million goal for its fifth fund. The Durham-based venture capital firm invests in seed- and early-stage life-sciences companies. Hatteras, whose partners include former Glaxo CEO Robert Ingram and former UNC Chapel Hill chancellor Holden Thorp, has about $350 million under management.

Permitting issues lead to cancellation of Mountain Brew Fest

August 25, 2015

(Hendersonville Times-News)

The state's ABC commission appears to be overwhelmed by the amount of paperwork created by the growing craft brewing industry. Organizers of Hendersonville's Mountain Brew Fest canceled the event, a fundraiser for environmental advocacy group MountainTrue, with just four days notice after half the breweries scheduled to attend backed out over permitting issues.

Johnston County courts major economic-development project

August 25, 2015

(The News & Observer, Raleigh)

Johnston County commissioners are expected to announce Wednesday an economic-development project that will create several hundred jobs. The county's incentive package includes the purchase of 95 acres of land that would be leased back to the company, whose identity will be revealed Wednesday.

Report released on Durham-Orange light-rail project

August 25, 2015

(The News & Observer, Raleigh)

A new report details ridership projections and other specifics about the proposed 17-mile light-rail line in Durham and Orange counties. The light-rail line, which would run from UNC Hospitals to Duke Medical Center, is expected to cost as much as $1.6 billion.

Court approves rate increase for Aqua NC

August 25, 2015

(Winston-Salem Journal)

The North Carolina Supreme Court upheld a May 2014 ruling that allows Aqua North Carolina to raise its rates to pay for repairs and system upgrades without first holding public hearings. Aqua serves customers in 52 counties and is the state's largest private water utility.

NC's jobless rate rises to 5.9% in July

August 24, 2015

(The News & Observer, Raleigh)

Despite adding 20,600 jobs in July, North Carolina's unemployment rate rose to 5.9%, up from 5.8% the previous month. The U.S. rate held steady at 5.3%.