Business

BB&T reports 8% increase in first-quarter profit

April 21, 2016

(Winston-Salem Journal)

BB&T reported $527 million in net income in the first quarter, up 8% from the same period a year ago. Total revenue was $2.6 billion, up $240 million compared with the first quarter of 2015. Earlier this month, the Winston-Salem-based bank completed acquisitions of National Penn Bancshares and insurance broker Swett & Crawford.

FDA rejects Morrisville company's surgical robot

April 21, 2016

(The News & Observer, Raleigh)

Shares of TransEnterix fell 50% in after-hours trading following the company's announcement that the Food and Drug Administration rejected its application to sell its surgical robot. SurgiBot would have been only the second surgical robot approved for general surgery in the U.S.

Fort Mill housing freeze passes first hurdle

April 21, 2016

(The Herald)

An ordinance to suspend single-family and multi-family residential zoning applications within the unincorporated Fort Mill township received preliminary approval Monday from the York County Council.  The proposal would ban new housing construction starts until 2017 between the Catawba River in North Carolina and Indian Land, S.C., excluding land inside the municipal limits of Fort Mill and Tega Cay. Heavy traffic and its impact on economic development, air quality and infrastructure are listed as reasons for the moratorium. The Rock Hill-Fort Mill Area Transportation Study Committee is working on a study of traffic capacity in the Fort Mill area.

Honda Aero announces $21M expansion in Burlington

April 20, 2016

(News & Record, Greensboro)

Honda Aero will invest $21 million in a 50,000-square-foot expansion of its Burlington plant, creating 30 new jobs. Engines made and tested here are delivered to Honda Aircraft in Greensboro for installation in the HondaJet light aircraft. Honda Aircraft delivered the first HondaJet, which can seat up to seven people, in December.

UnitedHealthcare to stop selling ACA policies in NC

April 20, 2016

(The Charlotte Observer)

Citing $1 billion losses from its Affordable Care Act exchanges, insurer United Heathcare will stop selling ACA policies in North Carolina and many other states in 2017. The state's largest insurer, Blue Cross and Blue Shield, has also said it is considering pulling out of the ACA market in North Carolina. That would leave N.C. with only one ACA insurer, Coventry Health, which operates in just 39 counties.

Analysts weigh in on potential LabCorp-INC Research deal

April 20, 2016

(The News & Observer, Raleigh)

Burlington-based LabCorp has held preliminary talks with Raleigh's INC Research about a possible deal, Bloomberg reports. INC, a contract-research organization, employs about 1,000 poeple in the Triangle. Analysts say a deal makes sense, as one of INC's strongest areas — testing drugs that affect the central nervous system — is one of LabCorp's deficiencies in its Covance CRO business

Durham's Argos Therapeutics cutting 18 jobs; COO resigns

April 20, 2016

(WRAL TechWire)

Durham drug developer Argos Therapeutics is cutting 13% of its workforce, or 18 employees, reducing its head count to 117. Fred Miesowicz is stepping down as chief operating officer but will remain a consultant with the company, which makes cancer treatments. Argos went public in 2014 and later that year announced plans to build a new 100,000-square-foot manufacturing plant in Durham that would create 230 jobs. The company was awarded up to $9.5 million in state incentives for the expansion.

Follett buying Charlotte's Baker & Taylor

April 20, 2016

(The Charlotte Observer)

Chicago-based Follett will purchase Baker & Taylor, a Charlotte-based provider of books, videos and music to public libraries, for an undisclosed amount. Baker & Taylor had been put up for sale by Castle Harlan, the New York-based private-equity firm that has owned it since 2006. The company employs 214 in Charlotte.

Oppositions mounts to CSX hub in Four Oaks

April 19, 2016

(WRAL.com)

At a public hearing on Monday, U.S. Senate candidate Greg Brannon was among speakers opposing a proposed CSX cargo hub in Four Oaks. The town in Johnston County expects to have an answer about the CSX project within a few days. Mayor Linwood Parker supports the project, which the state Commerce department says could bring as many as 8,000 jobs over the next five years.

Brunswick County has the most vacation homes in NC

April 19, 2016

(StarNews, Wilmington)

Brunwick County had 23,941 vacation homes in 2010, a 54% increase over 2000 when the county had 15,540 seasonal homes. Tourism spending in Brunswick increased to $496 million in 2014. Brunswick includes the popular vacation towns of Oak Island, Holden Beach and Ocean Isle Beach.