Business

Lenovo, IBM seeking more time for federal review of proposed deal

June 4, 2014

(WRAL TechWire.com)

IBM and Lenovo are seeking an extension for a U.S. government review of the proposed deal in which Lenovo would acquire IBM's x86 server unit for $2.3 billion, Bloomberg reports. Both companies say the deal is still on track to close by year-end. Beijing-based Lenovo would gain 2,000 of IBM's employees as part of the acquisition and has said it does not plan any layoffs.

Harris Teeter to sell LunaPops frozen treats

June 4, 2014

(Greater Wilmington Business Journal)

Harris Teeter will carry Hillsborough-based LunaPops popsicles in 180 of its grocery stores. LunaPops was started in Wilmington in 2008 and offers flavors including Sea Salt Caramel, Raspberry Chocolate Chip and Rhubarb Lime. Matthews-based Harris Teeter was acquired by Cincinnati-based Kroger Co. in January.

Report: Triad TV viewers exposed to most e-cig advertising

June 4, 2014

(News & Record, Greensboro)

The Triad area has the most electronic-cigarette ad exposure, a children's health journal reports. The article in Pediatrics says current advertising could lead to increased use of e-cigarettes in youth and young adults. North Carolina is one of 39 states that bans sales of e-cigarettes to youth. 

EPA plan would force NC power plants to reduce emission rates 40%

June 3, 2014

(The News & Observer, Raleigh)

North Carolina power plants will need to reduce carbon emission rates 40% by 2030 to comply with a new Environmental Protection Agency proposal to reduce coal pollution. The new rule, announced yesterday, may force energy companies to shut down more coal-fired power plants.

Heritage Home to close Morganton plant, cut 87 jobs

June 3, 2014

(Winston-Salem Journal)

Heritage Home Group will close its Drexel Heritage plant in Morganton and will eliminate 87 jobs by July 31. The St. Louis-based company closed furniture plants in Thomasville and High Point earlier this year. The company, which bought assets of Furniture Brands International in November, plans to move its headquarters to the Triad area later this year.

Company to create 79 jobs at biofuel refinery in Hoke County

June 3, 2014

(The Fayetteville Observer)

Tyton BioEnergy Systems will invest $36 million and create 79 jobs when it restarts production at the former Clean Burn Fuels ethanol refinery in Hoke County. The Danville, Va.-based company will eventually transition from the use of corn to tobacco sugars in its fuel production.

State's largest independent insurance agency is sold

June 3, 2014

(The News & Observer, Raleigh)

Greensboro-based Senn Dunn Insurance has been acquired by White Plains, N.Y.-based Marsh & McLennan for an undisclosed amount. Senn Dunn, which employs 155 at offices in Charlotte, Greensboro, High Point, Raleigh and Wilmington, was the state's largest independent insurance agency.

State to test for potential fracking sites in Western NC

June 3, 2014

(Asheville Citizen-Times)

Geologists with the state Department of Environment and Natural Resources will begin testing rock samples from seven Western N.C. counties to determine if there is a potential for deposits of oil or natural gas. 

Thirteen NC companies make Fortune 500 list

June 3, 2014

(The News & Observer, Raleigh)

Thirteen North Carolina-based companies are on the Fortune 500 list of the nation's largest companies. Charlotte-based Bank of America came in at No. 21, while Mooresville-based Lowe's was No. 52. Durham-based Quintiles made the Fortune 500 list for the first time at No. 486. Bentonville, Ark.-based Wal-Mart Stores remained at No. 1 with $473.1 billion in revenue.

BNC Bancorp completes acquisition of Community First

June 3, 2014

(Winston-Salem Journal)

BNC Bancorp has completed its $26 million acquisition of Chapel Hill-based Community First Financial Group, the parent company of Harrington Bank. High Point-based BNC, which operates as Bank of North Carolina, gains three branches and $225 million in assets from the purchase.