Business

BofA seeks to settle SEC probe, cuts more marketing jobs

February 25, 2016

(The Charlotte Observer)

Bank of America said in a securities filing it is working to settle an SEC investigation into whether its Merrill Lynch unit complied with federal regulations to protect customers' holdings. The Charlotte-based bank also cut a small number of jobs in its global marketing unit this week.

Report: Raleigh ranks No. 5 for career-focused workers

February 25, 2016

(WRAL TechWire)

Staffing firm Robert Half cited Raleigh's population growth, quality of life and low cost of living in its Career City Index, which ranks the best cities for career-oriented professionals. Raleigh trailed only Seattle, Boston, San Francisco and Washington, D.C.

Longtime Duke Energy exec to retire

February 25, 2016

(The Charlotte Observer)

A.R. Mullinax, executive vice president of strategic services at Duke Energy, will retire May 1. Mullinax, 61, has worked for the Charlotte-based utility and its predecessors for 38 years. His replacement has not been named.

California furniture company to open Greensboro plant

February 24, 2016

(Winston-Salem Journal)

CH Living will open a 180,000-square-foot plant in Greensboro that will be used for manufacturing and distribution of upholstered furniture. The Oxnard, Calif.-based company plans to hire 50 workers by late March; employment could reach 200 when the plant reaches full production.

Brunswick courts tire manufacturer, 1,000 jobs

February 24, 2016

(Greater Wilmington Business Journal)

Economic developers in Brunswick County are looking to attract an international tire manufacturer who would bring 1,000 jobs. The deal is far from done: The unidentified company is considering sites in 10 states to build a $458 million facility that would support its North American customers.

Charlotte restaurant group faces delisting

February 24, 2016

(The Charlotte Observer)

Chanticleer Holdings could have its stock delisted from the Nasdaq Capital Market after shares closed below $1 for 30 consecutive days. The Charlotte-based company is a franchisee of Hooters restaurants, owns American Roadside Burgers and holds a majority stake in the Just Fresh restaurant chain.

Record auto sales boost Sonic's Q4 earnings

February 24, 2016

(The Charlotte Observer)

Charlotte-based Sonic Automotive reported fourth-quarter earnings of $31.1 million, or 62 cents per share, up from $26.1 million a year ago and beating analysts' expectations of 59 cents a share. Sales of new and used cars reached record levels in the fourth quarter.

Proposed Wilmington apartments feature shipping containers

February 24, 2016

(StarNews, Wilmington)

Tired of the seeing the same old apartment buildings going up in Wilmington, a developer is hoping to build a 70-unit complex using shipping containers. Modern Urban Development has proposed five apartment buildings on Queen Street described as "edgy and high-end."

Shareholders OK NewBridge-Yadkin merger

February 24, 2016

(News & Record, Greensboro)

Shareholders of both companies approved Yadkin Financial's $456 million bid for Greensboro-based NewBridge Bancorp. The deal is expected to close March 1, creating a company with $7.2 billion in assets and 110 branches.

Duke Energy sued over nuclear charges in Florida

February 24, 2016

(The Charlotte Observer)

A class-action lawsuit accuses Duke Energy and Florida Power & Light of charging customers $2 billion to increase capacity at a nuclear plant it retired in 2013 and to build another nuclear power plant. Plans for the second plant were canceled.