Business

Report: NC startups raised $1.2 billion in 2015

February 19, 2016

(WRAL TechWire)

North Carolina entrepreneurial companies raised nearly $1.2 billion in 2015, up 122% from $533 million in 2014, according to a new report from the Council for Economic Development. The annual report includes venture capital as well as other sources of funding, including angel investing.

NetApp job cuts will hit RTP

February 19, 2016

(WRAL TechWire)

NetApp confirmed that layoffs announced this week will affect its Triangle operations, but it is unclear how many workers will lose their jobs. The Sunnyvale, Calif.-based company is cutting 12% of its workforce, or about 1,400 jobs. The data storage company employs about 1,600 at RTP.

Carolina Panthers raising ticket prices

February 19, 2016

(The Charlotte Observer)

The team says about two-thirds of seats in Bank of America stadium will increase by $5-$12 from last year. A third phase of stadium renovations is on track, including an improved WiFi system and upgrades to the upper level that should reduce concession wait times.

Qorvo plans $500M stock buyback

February 19, 2016

(News & Record, Greensboro)

Qorvo has agreed to repurchase $500 million of its common stock, half of which will be subject to a maximum and minimum share price. The technology company, with dual headquarters in Greensboro and Hillsboro, Ore., announced in November a $1 billion repurchase.

IBM buying Truven Health for $2.6B

February 19, 2016

(The News & Observer, Raleigh)

IBM, one of the Triangle's largest private employers, is buying Michigan-based Truven Health Analytics for $2.6 billion to bolster its Watson Health unit.

ZeekRewards receiver to pursue $13M from financial institutions

February 19, 2016

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge said Kenneth Bell, the receiver in the ZeekRewards.com case, can pursue up to $13.17 million from VictoriaBank of Moldova and two payment-processing companies. The Lexington-based company was shut down in 2012 after investigators uncovered the $850 million pyramid scheme ("Bounty Hunter," June 2015).

Williams Electric lays off 168 workers in Shelby

February 19, 2016

(The Charlotte Observer)

Williams Electric in Shelby will lay off 168 people as its contract with Duke Energy expires, but affected workers have been offered jobs with two other utility companies.

Chung: Foreign companies looking to invest in NC

February 18, 2016

(The Charlotte Observer)

Chris Chung, CEO of Cary-based Economic Development Partnership of North Carolina, said about 30% of the companies his group talks with are foreign-owned, and many are interested in acquiring N.C.-based companies rather than opening factories or offices here.

12 NC chefs named semifinalists for James Beard Awards

February 18, 2016

(The News & Observer, Raleigh)

Eight North Carolina chefs are in the running for the James Beard Award for Best Chef Southeast. Semifinalists include four Triangle chefs, Kinston's Vivian Howard, Davidson's Joe Kindred and Asheville's Brian Canipelli. Winners will be announced May 2. For the full list of semifinalists in all categories, click here.

ITG plans to lay off former Lorillard workers

February 18, 2016

(News & Record, Greensboro)

ITG Brands said Wednesday it will lay off an unspecified number of workers in Greensboro as contracts to produce brands for Reynolds American expire in June. ITG acquired Lorillard's cigarette plant last year as part of the $27.4 billion merger of Reynolds and Lorillard.