Business

Vermont company acquires Raleigh's Gamila Products

July 16, 2014

(The News & Observer, Raleigh)

Raleigh-based Gamila products was acquired by Vermont-based Seventh Generation, which sells environmentally friendly household and personal-care products. Gamila sells products for brewing single-servings of coffee and tea.

Reynolds American to buy Lorillard for $27.4 billion

July 15, 2014

(Winston-Salem Journal)

Winston-Salem-based Reynolds American has agreed to purchase Greensboro-based Lorillard for $27.4 billion. As part of the deal, United Kingdom-based Imperial Tobacco Group will buy selected brands including blu eCigs and will acquire Lorillard's Greensboro manufacturing operations where the tobacco company employs 2,900.

IT company could bring 1,200 jobs to Cary

July 15, 2014

(The News & Observer, Raleigh)

North Carolina is offering more than $17 million in incentives to lure a technology and engineering company to Cary. The unidentified company would create 1,237 jobs over three years.

Record orders mean jobs, investment at New Hanover GE Aviation plant

July 15, 2014

(Greater Wilmington Business Journal)

Following a record-breaking year in 2013, GE Aviation's joint venture CFM International has taken orders totaling about $25 billion so far this year. The company's plant in Castle Hayne will get a $65 million upgrade and 35 new jobs to keep up with production.

Johnston Community College opts out of federal student loans

July 15, 2014

(Smithfield Herald)

Students at Johnston Community College can no longer receive student loans from the federal government. The school opted out of the program due to a rising default rate that could jeopardize its federal funding.

WakeMed, UNC Hospitals face penalties under new Medicare rating system

July 15, 2014

(The News & Observer, Raleigh)

Raleigh's WakeMed and Chapel Hill's UNC Hospitals could face millions of dollars in penalties under the Affordable Care Act. The hospitals are among 16 in North Carolina that Medicare has listed as the "worst-performing" regarding patient complications and infections.

Beer festival could be Western NC's largest ever

July 15, 2014

(Asheville Citizen-Times)

Sierra Nevada's Beer Camp Across America could be the biggest beer festival ever held in Western N.C. Up to 5,000 tickets will be sold, and 120 breweries will be represented at the Aug. 3 event in Mills River.

Citigroup agrees to $7B mortgage settlement

July 15, 2014

(The Charlotte Observer)

Following Citigroup's announcement of a $7 billion settlement to resolve claims over securities tied to risky mortgages, experts say Bank of America is likely to settle over similar claims rather than go to trial. Talks between the bank and the Justice Department stalled in June after BofA offered to pay about $5 billion less than the $17 billion the Justice Department was seeking.

Experts weigh in on potential tobacco merger

July 15, 2014

(Winston-Salem Journal)

A potential acquisition of Greensboro-based Lorillard by Winston-Salem-based Reynolds American could lead to hundreds of job cuts as the combined company would look to achieve cost savings of up to $900 million, according to one analyst.

Panthers stadium upgrades near completion

July 15, 2014

(The Charlotte Observer)

The Carolina Panthers will unveil the first phase of a $125 million renovation at the team’s annual FanFest on July 25. The first phase of upgrades, which includes new escalators and video boards, cost $65 million.