Business

NCDOT to create 24-county free trade zone in Eastern NC

April 7, 2014

(Greater Wilmington Business Journal)

The N.C. Department of Transportation announced last week the creation of a 24-county free trade zone in Eastern N.C. that includes New Hanover, Brunwick and Pender counties. The zoning will enable companies designated as FTZ sites to defer duty taxes on products until the products leave the zone.

Lenovo buying NEC patents

April 7, 2014

(The News & Observer, Raleigh)

Lenovo is buying a portfolio of more than 3,800 smartphone-related patent families from Japanese technology company NEC for an undisclosed amount. The purchase, along with a $100 million deal announced last month to buy a group of patents from Nevada-based Unwired Planet, will help protect Lenovo against patent lawsuits from competitors as it grows its smartphone business.

Political ads target Republican senators for support of fracking

April 7, 2014

(The Sanford Herald)

A pro-environment group which includes the Southern Environmental Law Center is behind new politcal ads labeling three Republican state senators as "The Fracking Crew." The ads target Harnett County's Sen. Ronald Rabin, Wake County's Sen. Chad Barefoot and Sen. Wesley Meredith of Cumberland County, condemning the trio for their support of hydraulic fracturing.

Charlotte Douglas still 8th-busiest airport in nation

April 4, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport was the eighth-busiest airport in the nation and 23rd-busiest in the world in 2013, maintaining those positions from the previous year. The number of passengers increased 5.4% to 43.5 million.

Baxter to purchase Chapel Hill biotech firm for $70 million

April 4, 2014

(WRALTechWire.com)

Deerfield, Ill.-based Baxter International will acquire Chapel Hill-based biotechnology firm Chatham Therapeutics for $70 million. Chatham is currently developing gene-therapy programs for the treatment of hemophilia.

 

Lowe's to pay $18.1 million to settle hazardous-waste case

April 4, 2014

(The Charlotte Observer)

Mooresville-based Lowe's Cos. will pay $18.1 million to settle a case claiming the home-improvement retailer illegally disposed of hazardous waste at more than 100 stores in California. Dumpster inspections showed the company discarded batteries, paints, pesticides and other hazardous materials that were not allowed in California landfills.

Economist predicts slow growth for Wilmington area

April 4, 2014

(Greater Wilmington Business Journal)

A PNC economist said Wilmington will experience economic growth but it will take it a year longer than the rest of North Carolina to completely climb out of the recession. Mekael Teshome said the area must attract higher-wage industries instead of relying on hospitality and retail.  

Study: 250,000 NC residents missing from labor figures

April 4, 2014

(The Winston-Salem Journal)

A study released Thursday show 250,000 North Carolina residents in their prime working ages have left the labor force, and the state unemployment rate would climb from 6.4% in February to 11.9% if these missing workers were factored in.

Durham's Scynexis lowers expectations for IPO

April 4, 2014

(The News & Observer, Raleigh)

Durham drug-development firm Scynexis expects shares to sell for $7 to $8 in its initial public offering, lower than its original target of $12 to $14, and plans to sell 7.3 million shares, up from 4.2 million. Share are expected to begin trading Friday.

Duke Energy to appeal court ruling in coal-ash case

April 4, 2014

(The News & Observer, Raleigh)

Duke Energy will appeal a Superior Court ruling that required the utility to immediately stop the source of coal-ash pollution. A Wake County Superior Court judge issued the order on March 6. Also, the N.C. Environmental Review Commission has scheduled a special meeting to discuss coal ash prior to the General Assembly's short session which begins in May.