Business

Live Oak could raise up to $72.6M in IPO

July 15, 2015

(Greater Wilmington Business Journal)

Wilmington's Live Oak Bancshares could raise up to $72.6 million in its initial public offering, the company disclosed in an SEC filing Monday. Live Oak, a lender to small businesses, plans to offer 4 million shares priced between $16 and $18 per share.

US Open will return to Pinehurst in 2024

July 15, 2015

(The Pilot, Southern Pines)

The U.S. Open golf championship will return to Pinehurst for a fourth time in 2024. Though a formal announcement won't be made until July 22, the Pinehurst Village Council unanimously approved Tuesday an agreement with the USGA that will allow the tournament to use village property for parking and tournament staging.

Foxx, Charlotte officials hope streetcar will spark development

July 15, 2015

(The Charlotte Observer)

Charlotte's new streetcar line opened Tuesday, with U.S. Secretary of Transportation Anthony Foxx and local leaders touting its potential to spur new development along its 1.5-mile corridor.
Also: Charlotte's Gold Line streetcar shimmers on first run

Asheville's Moogfest moving to Durham in 2016

July 15, 2015

(Asheville Citizen-Times)

Moogfest, the music and technology festival held in downtown Asheville since 2008, will move to Durham in 2016, event organizers said Tuesday. "That city is exploding with technology, innovation, startups, and it just makes sense for Moogfest to be there," Emmy Parker, creative director of Moog Music, said.

Aircraft to begin hunt for oil and gas in Atlantic Ocean

July 15, 2015

(The News & Observer, Raleigh)

A company that uses aircraft to identify areas that could be potential sources of oil and natural gas says it has received a federal permit to begin evaluating areas off the coast of the Carolinas, Georgia and Virginia. The more controversial practice of seismic testing to locate oil beneath the earth's surface won't begin for at least another year.

Film workers forced to exit NC to find jobs

July 15, 2015

(Winston-Salem Journal)

Film industry officials say the state will lose at least 4,000 jobs and hundreds of millions of dollars as crew members, producers and others move to states such as Georgia, which offers generous incentives for the industry.

Wake Forest ends relationship with Shelby's RST

July 15, 2015

(The News & Observer, Raleigh)

The town of Wake Forest has abandoned plans to partner with RST Fiber Optic Networks, a Shelby-based company that had been working to install a high-speed fiber network there. Local leaders say they haven't been able to reach RST officials in months, and The Shelby Star reported in June the company's customers in Cleveland County had experienced long service outages.

Novant Health to lay off 400

July 14, 2015

(The Charlotte Observer)

Winston-Salem-based Novant Health said it expects to lay off up to 400 workers - about 2% of its workforce – as part of a system-wide reorganization. Novant did not break down the cuts by region or location.

Amazon teams up with NC wind farm developer

July 14, 2015

(The News & Observer, Raleigh)

Online retailer Amazon will partner with the Spanish developer of North Carolina's first commercial-scale wind farm. Electricity generated at the wind farm, in Pasquotank and Perquimans counties in northeast N.C., will be use to power Seattle-based Amazon's cloud-computing centers.

Local officials say it will be months before Yadkinville hospital can reopen

July 14, 2015

(Winston-Salem Journal)

Yadkin County officials say it will take a minimum of 120 days before Yadkin Valley Community Hospital can reopen; it could take months longer if the county has to negotiate with a new provider. The hospital's operator, CAH Acquisition, abruptly closed the hospital on May 22.