Business

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.

AG's office sues Burlington kitchen remodeler

July 15, 2014

(WRAL.com)

N.C. Attorney General Roy Cooper filed a lawsuit against American Kitchen Corp., a Burlington-based home-improvement company that 38 homeowners say took upfront payments from them and failed to finish the jobs.

Manufacturer could bring 1,000 jobs to Brunswick County

July 14, 2014

(Greater Wilmington Business Journal)

An unnamed company is considering investing $35 million in a manufacturing plant in Brunswick County that would create more than 1,000 jobs. The project is one of 13, mostly manufacturing-based, that local economic-development leaders are hoping to bring to the county.

Reynolds, Lorillard confirm merger talks

July 14, 2014

(Winston-Salem Journal)

After months of speculation, Reynolds American and Lorillard confirmed they are negotiating a potential acquisition of Lorillard by Reynolds. U.K.-based Imperial Tobacco Group also is in talks with the companies to buy some of their non-growth brands.

Merger approved for New Century, Select Bank

July 14, 2014

(The News & Observer, Raleigh)

State and federal regulators approved a merger between Dunn-based New Century Bancorp and Greenville-based Select Bank & Trust. The merger is expected to close on July 25. The combined bank will have 14 branches and will operate as Select Bank.

FedEx to build $41 million distribution center in Concord

July 14, 2014

(The Independent Tribune, Concord)

FedEx will invest $41 million in a 330,780-square-foot distribution center in Concord, where it plans to employ 59 full-time and 462 part-time workers by the end of 2019. Some employees will be transferred from the company's current operation in Charlotte.