Business

Hedge fund sells Family Dollar shares

January 28, 2015

(The Charlotte Observer)

Trian Fund Management sold about 6 million shares of Matthews-based Family Dollar Stores, reducing its ownership stake from 8% to about 2%, according to a securities filing Tuesday. A separate SEC filing showed that 89% of the discount retailer's shares who voted approved its pending $8.5 billion sale to Chesapeake, Va.-based Dollar Tree.

IBM union reports job cuts to begin Wednesday

January 28, 2015

(WRAL TechWire)

Many IBM employees have told a workers' union that layoffs related to a restructuring will begin Wednesday. The Armonk, N.Y.-based technology company confirmed Monday it plans to cut 10,000 jobs worldwide, though it is unknown how many will be in the United States.

Carolinas HealthCare's contract with insurer set to expire

January 28, 2015

(The Charlotte Observer)

Carollinas HealthCare System's contract with insurer UnitedHealthcare will expire Feb. 28 if the two companies are unable to strike a deal. Negotiations began last fall, but the insurance company says there are still two points of disagreement.

Eden says rivers 'thriving'

January 28, 2015

(News & Record, Greensboro)

Nearly a year after coal ash spilled into the Dan River from a nearby Duke Energy steam station (cover story, April 2014), officials from Eden say their rivers are "thriving." 

Cree LED bulbs to light up the Super Bowl

January 28, 2015

(The News & Observer, Raleigh)

When the New England Patriots face the Seattle Seahawks at Sunday's Super Bowl XLIX , 44,928 Cree LED bulbs will light up Arizona's University of Phoenix Stadium. The Durham company's 312 LED fixtures are 75% more energy efficient and provide double the illumination of traditional fixtures.

Report: Google Fiber coming to Charlotte, Raleigh-Durham

January 27, 2015

(The Charlotte Observer)

The Wall Street Journal reported late Monday that Mountain View, Calif.-based Google is planning to bring its high-speed Internet network to Charlotte, Raleigh-Durham, Atlanta and Nashville, Tenn. Charlotte officials and members of the media have been invited to a Google news conference at 1 p.m. Tuesday.

IBM calls report of massive layoffs 'baseless'

January 27, 2015

(The News & Observer, Raleigh)

IBM denied a Forbes report that said it planned to lay off one-fourth of its workforce, or more than 100,000 people. The Armonk, New York-based tech company employs several thousand people in Research Triangle Park.

GE Nuclear Fuel unit secures $100M contract

January 27, 2015

(Greater Wilmington Business Journal)

Global Nuclear Fuel, the GE-led joint venture of Hitachi and Toshiba, received a contract worth more than $100 million to provide fuel for a nuclear station in Nebraska through 2034. The fuel will be manufactured at GNF's Castle Hayne campus near Wilmington.

BNC Bancorp reports record profit in fourth quarter

January 27, 2015

(Winston-Salem Journal)

BNC Bancorp, the High Point-based parent of Bank of North Carolina, reported profit of $8.5 million in the fourth quarter, an increase of 160% over the same period a year ago. Net income for the fiscal year rose 81.6% to $29.4 million. BNC will have about $4.9 billion in assets after it completes a pending $101.3 million acquisition of Roanoke, Va.-based Valley Financial Corp.

High Point's Cornerstone losing 25 doctors

January 27, 2015

(High Point Enterprise)

More than two dozen doctors will leave Cornerstone Health Care by early March. Three years ago, the High Point-based physicians group changed the fee and compensation structure for its member doctors. The group has more than 375 physicians in more than 90 practices, according to its website.