Business

NY tech company moves headquarters to Charlotte

September 25, 2014

(The Charlotte Observer)

Velocity Technology Solutions will relocate next month from New York City to Charlotte, where it will initially employ 50 people. The cloud-computing company expects to expand its employment to more than 200 over the next few years.

Tech company expected to bring 30 jobs to downtown Wilmington

September 25, 2014

(StarNews, Wilmington)

A month after Wilmington-based Next Glass announced it was moving its offices downtown, another unidentified tech company is said to be in talks to bring 30 employees to the Murchison Building in Wilmington.

FAA to approve drone use for movie production

September 25, 2014

(The News & Observer, Raleigh)

The FAA is expected to approve the use of drones for seven movie- and television-production companies. The federal agency has previousy granted only one permit for commercial drone use, to Conoco Philips oil company for use in unpopulated areas in Alaska and the Arctic Ocean. 
Read about NC's race to become the first in unmanned flight in "Pie in the sky" from BNC's September issue

Duke Energy will grant $2 million for water-improvement on Dan River

September 25, 2014

(Winston-Salem Journal)

Duke Energy will provide at least $2 million for conservation efforts and water-quality improvement along the Dan River, the site of the Charlotte-based utility's February coal-ash spill (cover story, April)

First Citizens announces board changes

September 25, 2014

(The News & Observer, Raleigh)

Three directors from South Carolina-based First Citizens Bank and Trust will join the board of First Citizens Bank when the two banks complete their $600 million merger next week. Ten members of the Raleigh-based bank's board will keep their positions, while two − H.M. Craig III and Ralph K. Shelton − will resign.

Foxx says local leaders should resolve Charlotte airport situation

September 24, 2014

(The Charlotte Observer)

In his first public comments on the issue, U.S. Transportation Secretary Anthony Foxx called the debate over who should run Charlotte Douglas International Airport "an unnecessary mess" and said it would be best if the issue was resolved locally. The former Charlotte mayor gave no timeline for when the FAA might decide whether a state-appointed commission can assume control of the airport (cover story, September 2013).

Cisco begins layoffs in RTP

September 24, 2014

(The News & Observer, Raleigh)

Cisco Systems has begun previously announced layoffs at its Research Triangle Park campus and across North America. The San Jose, Calif.-based tech company was awarded $12.9 million in state incentives to add 550 jobs at RTP by 2017. The company will be required to fill vacancies caused by the layoffs before it can count new hires toward the 550 total.

Charlotte ranked No. 1 Big-City Bargain

September 24, 2014

(The Charlotte Observer)

Money magazine ranked Charlotte first in the Best Big-City Bargain category of its 2014 Best Places to Live rankings. Criteria included affordability of housing, economic strength and other livability data. Phoenix, Fort Worth, Texas, Boston and Chicago completed the top five. On its overall best places to live list, Cary and Chapel Hill ranked 19th and 36th, respectively. 

Salix stock rises amid reports of Allergan acquisition

September 24, 2014

(The News & Observer, Raleigh)

Shares of Salix Pharmaceuticals rose 5% in afternoon trading Tuesday amid reports the company is in talks with Allergan, the maker of Botox, about a possible acquisition. It's unknown how an acquisition by Allergan would affect Salix's planned merger with a subsidiary of Italy-based Cosmo Pharmaceuticals. Raleigh-based Salix, which makes drugs for gastrointestinal illnesses, has a market value of $10.7 billion.

Duke Energy part of $8 billion wind project in Western U.S.

September 24, 2014

(The Charlotte Observer)

A company co-owned by Charlotte-based Duke Energy is part of an $8 billion proposed wind-energy project that would generate twice as much electricity as the Hoover Dam. Duke-American Transmission Co. is among four companies partnering on the project, which would store energy generated in Wyoming and later sell it to the city of Los Angeles.