Business

Greensboro developer Marty Kotis buys downtown property

January 20, 2016

(News & Record, Greensboro)

Marty Kotis, the Greensboro developer who compares his approach to rehabbing buildings to the Extreme Makeover TV show, will pay $900,000 for the city-owned human services building in downtown Greensboro. Kotis said he has no immediate plans for the property.

Durham's Clinverse bought by Pennsylvania company

January 20, 2016

(The News & Observer, Raleigh)

Clinverse, a Durham-based software company with about 60 employees, has been acquired by Bioclinica, a privately held Pennsylvania pharmaceutical-services company with about 2,000 employees, for an undisclosed amount. Clinverse's cloud-based software is used by drug companies and CROs.

BofA stock slides after earnings report

January 20, 2016

Bank of America released its annual financial results Tuesday, showing that the largest N.C.-based public company is past its recession-era woes and ready for a big bounce once interest rates increase. Investors were so impress with the $16 billion in annual profit that shares declined 1.5%, with the company's stock now trading at the lowest level since 2013.

Cree shares rise in after-hours trading

January 20, 2016

(WRAL TechWire)

Durham-based Cree reported second-quarter earnings of $14 million, with adjusted earnings of 30 cents per share, beating Wall Street expectations of 24 cents per share. Shares rose more than 5% in after-hours trading on Tuesday. The LED-maker said it is delaying the spinoff of its Wolfspeed power and radio-frequency unit until later this year.

PLS Logistics Services opens Charlotte office

January 20, 2016

(The Charlotte Observer)

The Pennsylvania-based company plans to employ about 200 people in Charlotte over the next several years. PLS provides supply-chain management and brokerage services for the shipping industry.

Smokies, Parkway top national attractions

January 19, 2016

(Asheville Citizen-Times)

More than 15 million people visited the Blue Ridge Parkway in 2015, a 7% increase over the year before. The 469-mile parkway, which stretches from Cherokee to Shenandoah, Va., was the National Park Service's most visited attraction while the Great Smoky Mountains was the most visited national park with 10.7 million visitors, a park record.

Avian flu scare appears to be over in NC

January 19, 2016

(The News & Observer, Raleigh)

The state has lifted a ban on public bird shows and sales as fears of an anticipated outbreak of the avian flu have abated. The virus, which killed 49 million chickens and turkeys in the Midwest, never emerged in North Carolina, though officials say the threat will never go away and measures farms have taken to prevent the virus will become standard procedure.

Lowe's exits venture with Australia's Woolworth's

January 19, 2016

(Bloomberg Business)

Lowe's is bailing out of an unprofitable joint venture with Australia-based Woolworth's Ltd. after six years of struggling to compete in the market. The Mooresville-based company owns 33% of the venture, which operates more than 60 home-improvement stores in Australia under the Masters and Home Timber & Hardware brands.

Critics of federal crowdfunding law say NC needs to develop its own

January 19, 2016

(The News & Observer, Raleigh)

A new federal law says startups and small business can raise up to $1 million a year from average investors. Some advocates of the practice say North Carolina needs to develop its own crowdfunding laws. A bill that failed during last year's legislative session would increase the cap to $2 million a year.

Big projects on the agenda for Charlotte City Council

January 19, 2016

(Charlotte Agenda)

Charlotte City Council could vote on several big development projects at Tuesday's meeting, including rezoning a 27-acre parcel near SouthPark mall to allow for a project that would replace an aging apartment complex with 1,100 homes, more than 500,000 square feet of office and retail space and 300 hotel rooms.