Business

Charlotte developer to build business park on 125 acres in Concord

July 27, 2015

(The Independent Tribune, Concord)

Charlotte-based Beacon Partners plans to build a commercial business park in Concord that could encompass about 1.5 million square feet.

Raleigh hopes to revive business incubator

July 27, 2015

(The News & Observer, Raleigh)

The Raleigh City Council will seek proposals from companies interested in running the Raleigh Incubator to serve entrepreneurs, including minorities and women. A predecessor to the new incubator, the Raleigh Business and Technology Center, closed its doors in 2013 amid fraud allegations.

Charlotte CEOs team up to tackle civic issues

July 24, 2015

(The Charlotte Observer)

A group of more than two dozen chief executives of Charlotte-based companies, universities and nonprofits are part of a new leadership council that will address civic issues such as education and transportation. Duke Energy CEO Lynn Good is chairwoman of the group, which also includes the CEOs of Piedmont Natural Gas, Carolinas HealthCare System, Belk and Bank of America.

Report defends certificate of need laws

July 24, 2015

(The News & Observer, Raleigh)

A report from Chapel Hill-based Ascendient Healthcare Advisors says the state's regulatory approval process for health-care organizations to expand or build new facilities helps keep costs down and protects hospitals that provide indigent care. A House proposal to eliminate certificate of need requirements, which hasn't had a committee vote, was endorsed this month by the Federal Trade Commission.

Wilmington's Live Oak Bancshares makes public debut

July 24, 2015

(Greater Wilmington Business Journal)

Live Oak Bancshares, parent company of Live Oak Bank, debuted on the Nasdaq exchange Thursday. The Wilmington-based lender had said earlier it planned to offer 4.8 million shares priced at $17 a share, the midpoint of the expected range.

Federal government opposes BofA appeal in Countrywide case

July 24, 2015

(The Charlotte Observer)

In a filing Wednesday, the U.S. government said an appeals court should not overturn a 2013 ruling requiring Bank of America to pay $1.27 billion in penalties for bad home loans sold through its Countrywide Financial unit.

Durham drug developer moving to New Jersey

July 24, 2015

(The News & Observer, Raleigh)

Durham-based Scynexis has sold its contract R&D business unit and is relocating to New Jersey. Longmont, Colo.-based Avista Pharma Solutions acquired the R&D unit and plans to hire "substantially all" existing employees at Scynexis' Durham manufacturing plant.

Yadkin Financial reports strong 2Q results

July 24, 2015

(Winston-Salem Journal)

Yadkin Financial reported record net income of $10.6 million for the second quarter, compared with $1.73 million a year ago before the bank's merger with VantageSouth Bancshares.

BofA shuffles top executives

July 23, 2015

(The Charlotte Observer)

Paul Donofrio will succeed Bruce Thompson as CFO of Charlotte-based Bank of America. David Darnell, head of global wealth and investment management, also said he is stepping down.
Related: BofA financial chief's exit puts focus on bank's succession plan

Raleigh software company's acquisition will accelerate growth

July 23, 2015

(The News & Observer, Raleigh)

Raleigh-based software company Expion was acquired by Toronto-based Sysomos for an undisclosed amount. Expion CEO Peter Heffring said he expects the company to add 15-20 employees to its 75 in Raleigh by year-end. Customers that use Expion's social-media software include Coca-Cola and Mastercard.