Business

NC Biotech Center awards $1.8M

July 22, 2015

(WRAL TechWire)

The N.C. Biotech Center awarded $1.8 million in loans and grants during the last quarter. Among 27 companies and universities receiving funding were Chapel Hill-based KindHeart and Durham-based Akros Medical.

Synchrony Financial moving to bigger office in Charlotte

July 21, 2015

(The Charlotte Observer)

Synchrony Financial is moving to a larger office to accommodate future growth in Charlotte. The Stamford, Conn.-based credit card company employs about 400 in the Queen City and plans to add another 200 jobs by year-end.

BB&T incentive plan sparks controversy

July 21, 2015

(The Charlotte Observer)

Five top executives of BB&T are in line to receive $2.6 million in bonuses once the Winston-Salem-based bank successfully completes its integration with Susquehanna Bancshares. A Miami-based bank consultant says those bonuses are usually paid out to the IT staff who actually do the work to convert the computer systems.

Wind farm near Elizabeth City could be first of many in the South

July 21, 2015

(Rocky Mount Telegram)

New, larger turbines have made harnessing wind power in North Carolina more feasible than a decade ago, and the $600 million wind farm that will be built in Pasquotank and Perquimans counties could be the first of many in the Southeast.

UNC researchers find AIDS drugs can suppress virus

July 21, 2015

(The News & Observer, Raleigh)

Researchers at UNC Chapel Hill have found that consistent use of AIDS medications can prevent transmission of the virus to other people. The challenge is getting infected people to take the drugs; only about a third of 1.2 million people with AIDS are taking HIV-suppressing drug cocktails, according to the CDC. The UNC study was funded with more than $100 million in federal grants.

RTP's AgBiome moving into larger space

July 21, 2015

(The News & Observer, Raleigh)

AgBiome, a Triangle agbio research company, is moving to a larger space in RTP that will allow it to nearly double its workforce to 70. Founded in 2012, AgBiome has raised $17.5 million in venture capital and performs research for companies including Syngenta.

Sonic Automotive reports Q2 results

July 21, 2015

(The Charlotte Observer)

Sonic Automotive reported revenue of $2.4 billion in the second quarter, a 3% increase over the same period a year ago. Net income fell 45% as expenses grew. The Charlotte-based auto dealer said it plans to expand its One Sonic One Experience sales model, which aims to streamline the car-buying experience, and add more EchoPark used-car dealerships over the next year.

Wilmington home sales best in 9 years

July 21, 2015

(StarNews, Wilmington)

Realtors in the Wilmington area reported the strongest June home sales in nine years, with 802 single-family homes sold for a total of $207.5 million.

AT&T expands ultra-fast Internet service to Durham, Greensboro

July 21, 2015

(WRAL TechWire)

AT&T launched its GigaPower high-speed Internet service in Durham and Greensboro on Monday. The service is now available in eight North Carolina cities. Prices start at $70 a month.

Report ranks highest-paid bank CEOs

July 20, 2015

(The Charlotte Observer)

JPMorgan Chase CEO Jamie Dimon is now the highest-paid U.S. bank CEO, earning $27.7 million in 2014. Second was John Stumpf, CEO of Wells Fargo, according to a report by SNL Financial. Bank of America's Brian Moynihan came in sixth while BB&T's Kelly King was ninth.