Business

Strong appliance sales boost Lowe's 2Q revenue

August 19, 2015

(The Charlotte Observer)

Home-improvement retailer Lowe's reported revenue of $17.35 billion for the second quarter that ended July 31, compared with $16.6 billion a year ago. The Mooresville-based company has benefited from an improved housing market: The U.S. Commerce Department said this week that construction of single-family homes has reached its highest level since December 2007.

Chatham County approves two-year ban on fracking

August 19, 2015

(The Herald-Sun, Durham)

Chatham County commissioners approved a two-year moratorium on hydraulic fracturing. Chairman Jim Crawford said the practice poses a threat to the agriculture and agribusiness industries, which account for 38% of the county's income.

Kentucky company buys Columbus County railroad

August 19, 2015

(The Fayetteville Observer)

Kentucky-based R.J. Corman Railroad Co. is the new owner of Carolina Southern Railroad, which runs through Columbus County in southeastern N.C. and Horry and Marion counties in South Carolina. The railroad has been idle since 2011, when several bridges failed to pass inspection. Local leaders helped organize the $13.9 million sale.

Candy-maker begins production in Mebane

August 19, 2015

(The Times-News, Burlington)

Morinaga has begun production at its candy factory in Mebane. The Japanese company, which makes Hi-Chew, a candy that gained popularity in Asian markets and can now be found in convenience and grocery stores across the U.S., is investing more than $48 million in the plant and plans to hire 90 workers by 2018.

Excess revenue increases more than 36% at Cone Health

August 19, 2015

(Winston-Salem Journal)

Greensboro-based Cone Health reported excess revenue – the same as profit for a nonprofit organization – of $57 million, an increase of 36.6%.

BB&T to acquire National Penn Bancshares

August 18, 2015

(Winston-Salem Journal)

Two weeks after completing its acquisition of Susquehanna Bancshares, BB&T said it will purchase National Penn Banchshares, based in Allentown, Pa., in a cash and stock deal valued at about $1.8 billion. National Penn has assets of $9.6 billion and 124 offices in Pennsylvania, New Jersey and Maryland.

Apex earns top spot on Money magazine list

August 18, 2015

(The News & Observer, Raleigh)

Apex, in western Wake County, is the best place to live in among U.S. towns with populations of 50,000 or less, according to Money magazine. The magazine cited the town's affordable housing, proximity to universities and Research Triangle Park and "small-town charm."

Mann + Hummel to buy Gastonia's Affinia Group

August 18, 2015

(The Charlotte Observer)

Affinia Group, an automotive-parts supplier based in Gastonia, will be acquired by Germany-based Mann + Hummel for $513 million, according to a regulatory filing. The privately held company will also take on Affinia's debt, which Reuters reports was $822 million as of June 30. Affinia employs 1,271 people in Gaston County.

GSK reopens Zebulon plant after brief shutdown

August 18, 2015

(The News & Observer, Raleigh)

GlaxoSmithKline reopened its Zebulon plant on Monday after a six-day shutdown. The United Kindgom-based drugmaker had temporarily closed the plant after discovering bacteria that can cause Legionnaires' disease in two of its cooling towers.

Triangle tech, energy companies reveal 'wish list' for new hires

August 18, 2015

(WRAL TechWire)

Triangle technology and energy companies plan to hire up to 3,000 workers over the next five years, according to the results of a recent survey by RTI International. Two-thirds of the companies surveyed will seek candidates with engineering and technology degrees, though 25% are also looking for workers with business and management degrees.