Business

Yancey County deploys gigabit Internet service

April 21, 2015

(Asheville Citizen-Times)

Yancey County deployed an ultra-fast Internet network in March, offering residents speeds of up to one gigabit per second. The project, which will expand into Mitchell County, was funded by an $18.6 million federal grant and a $6.6 million loan from the U.S. Department of Agriculture.

WSJ: Wells Fargo could buy GE loan unit

April 21, 2015

(The Charlotte Observer)

Wells Fargo is among potential buyers for part or all of GE Capital's $74 billion financial-services unit that provides loans to midsize businesses, according to a report in The Wall Street Journal. GE announced earlier this month is was selling most of its GE Capital Real Estate assets to Blackstone and the San Francisco-based bank.

PETA targets Food Lion for use of live animals in ads

April 21, 2015

(WRAL.com)

People for the Ethical Treatment of Animals wants Food Lion to put an end to its advertising campaign that uses a lion telling people how they can save money by shopping at the grocery chain. A Food Lion spokeswoman says the company takes steps to ensure the safety and well-being of the lion during filming.

Raleigh medical-device company raises $5.6M

April 21, 2015

(The News & Observer, Raleigh)

Contego Medical raised $5.6 million in a funding led by Durham-based Hatteras Venture Partners. The Raleigh-based company plans to use the funds to develop new products and expand its workforce.

Republic Wireless to introduce new pricing plan

April 21, 2015

(The News & Observer, Raleigh)

Cary-based Republic Wireless, which offers a low-cost hybrid phone service that uses both Wi-Fi and cellular networks, is developing a new pricing plan that would refund money each month to consumers for unused cellular data.
Related: "Calling Ahead," September 2013

Columbia's Edens buys Charlotte shopping center for $22.5M

April 21, 2015

(The Charlotte Observer)

Columbia, S.C.-based Edens paid $22.5 million for a Charlotte shopping center anchored by a Harris Teeter grocery store. The 3.9-acre center sits at the intersection of Providence and Queens roads. The real-estate company bought Charlotte's Park Road Shopping Center in 2011 for $82 million.

Cabarrus to consider incentives for $12.5M project

April 20, 2015

(The Independent Tribune, Concord)

Cabarrus County commissioners will hold a public hearing Monday on whether to provide incentives for an unidentified company to invest $12.5 million and create 176 jobs in Harrisburg.

Airlines, CLT airport officials defend tax cap for jet fuel

April 20, 2015

(The Charlotte Observer)

Officials from American Airlines and Charlotte Douglas International Airport said Friday that extending the state's cap on sales tax for jet fuel is needed to keep costs competitive and for Charlotte to maintain its AA hub. The state House has passed a bill that would extend the cap, but the Senate introduced a competing bill that doesn't include the tax break.

NC companies raised $115M in venture funding during first quarter

April 20, 2015

(WRAL TechWire)

North Carolina-based startups raised nearly $115 million in venture-capital funding in the first quarter of 2015, the best first quarter since before the economic recession, though the state still lagged behind rival states Georgia and Virginia. The largest N.C. deals were RTP-based G1 Therapeutics, which raised $33 million, and Wilmington-based nCino, which raised $29 million.

Outlook positive for High Point Market

April 20, 2015

(Winston-Salem Journal)

Furniture manufacturers and organizers of the High Point Market believe improved economic conditions will continue to strengthen the furniture industry. The biannual trade show, which is expected to attract up to 80,000 participants, continues through Thursday.