Business

Attendance up 12% at Wilmington film festival

November 25, 2015

(Greater Wilmington Business Journal)

A total of 17,630 people attended this month's Cucalorous Film Festival in Wilmington, an increase of almost 12% from 2014. Financial information has not been released.

Florida bank to buy CommunityOne Bancorp for $350M

November 24, 2015

(The Charlotte Observer)

Capital Bank Financial Corp. will acquire Charlotte-based CommunityOne Bancorp for $350 million, pending regulatory approval. Capital Bank has $7.3 billion in assets with offices in the Carolinas, Tennessee and Virginia. Its banking operation is based in Raleigh. CommunityOne's assets total $2.4 billion.

Duke Energy wasn't Piedmont's only suitor

November 24, 2015

(The Charlotte Observer)

Charlotte-based Duke Energy outbid an unnamed company to buy Piedmont Natural Gas, according to securities filings Monday. The $6.7 billion deal, which includes $1.8 billion in debt, was negotiated within a window of about two months and appears to have been spurred by Atlanta-based Southern Co.'s plans to buy AGL Resources for $8 billion.

Health insurers owe NC customers $8.5M in refunds

November 24, 2015

(WRAL.com)

Insurance companies who failed to meet Affordable Care Act requirements must pay $8.5 million in refunds to customers in North Carolina, Insurance Commissioner Wayne Goodwin said Monday. United Healthcare owes the most – nearly $4.9 million – for failing to meet guidelines that require insurers to spend at least 80% of premium revenue on claims and improving health care quality.

Foreclosure sale of Wilmington mall delayed again

November 24, 2015

(StarNews, Wilmington)

The public auction of Independence Mall in Wilmington was rescheduled for Dec. 22, marking the third time the foreclosure sale has been delayed. Centro Independence, the mall's owner, defaulted on a $110 million loan.

Poll: 76% of NC residents won't shop on Black Friday

November 24, 2015

(News & Record, Greensboro)

A High Point University Poll found that 78% of N.C. residents don't plan to shop on Thanksgiving Day and 76% won't shop on Black Friday. According to the poll, which surveyed 610 adults across the state, 69% of North Carolinians disapprove of businesses requiring employees to work on Thanksgiving.

Citrix ending startup accelerator program

November 24, 2015

(The News & Observer, Raleigh)

Citrix Systems will wind down a two-year-old program that provides mentoring and support to entrepreneurs, raising questions about the California-based tech company's future in Raleigh. Citrix said last week it was eliminating 1,000 jobs as part of a restructuring, though fewer than five people were laid off at the Raleigh office.

Durham's Validic teams up with Quintiles

November 24, 2015

(WRAL TechWire)

Durham-based Validic has signed contract-research organization Quintiles as a client, the companies said Monday. Under the partnership, Quintiles, also based in Durham, will be able to access patient-generated data from digital health devices and apps to help with clinical trials.

AAIPharma investing $15.8M in Wilmington expansion

November 23, 2015

(Greater Wilmington Business Journal)

The contract drug development company will add 37 jobs over three years; the number could climb to 50 by 2019. Wilmington-based AAIPharma will receive up to $550,000 in state and local incentives. The company employs nearly 400 people in Wilmington.

Group says offshore drilling a matter of 'when,' not 'if'

November 23, 2015

(StarNews, Wilmington)

Executives from Shell Oil joined the pro-drilling group Consumer Energy Alliance in Wilmington Friday to discuss the potential impact of drilling for oil and natural gas off the North Carolina coast. A Shell representative said offshore drilling in southeastern N.C. could bring new jobs to the Port of Wilmington.