Business

Enviva says port terminal will be ready by spring

August 21, 2015

(Greater Wilmington Business Journal)

Enviva says its wood-pellet manufacturing plant in Sampson County and its storage-dome facility at the Port of Wilmington are expected to be complete by early 2016. The Bethesda, Md.-based company says the two facilities will create about 300 jobs.

Wells Fargo cuts investment-banking jobs

August 21, 2015

(The Charlotte Observer)

Fewer than 10 investment bankers at Wells Fargo Securities were laid off Thursday. It was unclear how many of the affected workers were in New York and how many were in Charlotte, where the unit employed about 2,000 people as recently as 2013. The San Francisco-based bank did not give a specific reason for the layoffs.

RTP's AgBiome raises $34.5M

August 20, 2015

(The News & Observer, Raleigh)

AgBiome raised $34.5 million in venture-capital funding; investors included Syngenta Ventures and the Bill & Melinda Gates Foundation. The Research Triangle Park-based company is developing a natural fungicide that can be used by organic farmers. AgBiome, which employs 50 people, previously raised $17.5 million.

Duke Energy could use drones to improve response time in storms

August 20, 2015

(The Charlotte Observer)

Duke Energy is testing the use of unmanned aerial vehicles that could be used to inspect power lines and solar farms after storms and outages. The Federal Aviation Administration awarded the Charlotte-based utility an exemption to fly the drones in June.

Chapel Hill drugmaker receives fast-track status for pneumonia treatment

August 20, 2015

(WRAL TechWire)

Chapel Hill-based Cempra was granted fast-track designation from the FDA for its antibiotic treatment for community-acquired bacterial pneumonia, one of the most common infectious diseases. Cempra's stock has increase more than sixfold since the company went public in 2012 and has more than tripled over the last year (Top 75 Public Companies, August).

Winston-Salem-based Targacept's sale to Catalyst nears completion

August 20, 2015

(Winston-Salem Journal)

Shareholders of Targacept approved the sale of the company to San Francisco-based Catalyst Biosciences. The drug-development company once employed 144 people in Winston-Salem; few of its 10 remaining employees are expected to work for Catalyst after the deal closes, which could be as soon as Thursday.

SunTrust seeks to gain market share in Charlotte

August 20, 2015

(The Charlotte Observer)

SunTrust Banks is looking to increase its market share in the Queen City, according to Jenna Kelly, who has been Charlotte region president since May. Kelly says the Atlanta-based bank is adding to its 500 employees in Charlotte, where it opened a regional headquarters at SouthPark in February.

Raleigh's Sprout to add sales positions to market new drug

August 20, 2015

(The News & Observer, Raleigh)

Sprout Pharmaceuticals says it will grow its workforce from 34 employees to more than 200 now that the FDA has granted approval for its female libido drug. Addyi will be available to women who have prescriptions for the drug by Oct. 17.

Raleigh drugmaker gains FDA approval for female libido pill

August 19, 2015

(The News & Observer, Raleigh)

The FDA gave approval on Tuesday for Addyi, Sprout Pharmaceuticals' drug for women with low sex drive. Raleigh-based Sprout expects to quadruple its workforce of 31, adding sales reps to promote the pill. Sprout has raised $100 million from private investors.

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.