Charlotte

BofA could write off portion of DOJ settlement

August 15, 2014

(The Charlotte Observer)

Billions of dollars of Bank of America's expected $16 billion settlement with the Department of Justice over faulty mortgage bonds could be tax-deductible.

Charlotte proposes land-swap with Duke Energy for coal-ash storage

August 14, 2014

(The Charlotte Observer)

Duke Energy is considering a plan proposed by Charlotte city staffers that would give the utility 128 acres of vacant land to bury 4.7 million tons of coal ash. In exchange, Duke would give the city a 42-acre site on which it currently employs about 250 workers at an operations center. 

Duke ordered to submit coal-ash cleanup plan

August 14, 2014

(The News & Observer, Raleigh)

Duke Energy must submit plans by Nov. 15 for removing coal ash from its Asheville, Dan River, Riverbend and Sutton power plants. Those plants were flagged as high priority following the Charlotte-based utility's Feb. 2 ash spill at the Dan River plant.

American Airlines wants lawmakers to extend fuel cap

August 13, 2014

(The Charlotte Observer)

American Airlines is urging state legislators to extend a cap on fuel sales taxes or exempt airlines from paying the taxes altogether. The fuel cap, set to expire Jan. 1, 2016, provides refunds to airlines for fuel taxes paid over $250 million. 

Harris Teeter denies PETA allegations

August 13, 2014

(The Charlotte Observer)

Harris Teeter denied accusations that it sells milk produced at a small Haywood County farm that People for the Ethical Treatment of Animals has accused of animal cruelty. Matthews-based Harris Teeter, which was acquired by Cincinnati-based Kroger Co. in January, says it has verified with its supplier that it doesn't receive milk from the farm.

Brazilian companies make $610M bid for Chiquita

August 12, 2014

(The Charlotte Observer)

Two Brazilian companies announced a counteroffer to buy Charlotte-based Chiquita Brands International for $610.6 million in cash. The produce company previously announced plans to merge with Dublin-based Fyffes by year-end, a deal that would require moving its headquarters to Ireland.

Charlotte Hornets expected to submit bid for NBA All-Star Weekend

August 12, 2014

(The Charlotte Observer)

The Charlotte Hornets will hold a press conference this morning where the team is expected to announce plans to bid on hosting either the 2017 or 2018 NBA All-Star Weekend. League Commissioner Adam Silver said in March an All-Star bid would be contingent on the city agreeing to make upgrades to the nine-year-old arena.

Filing reveals details of Dollar Tree-Family Dollar deal

August 12, 2014

(The Charlotte Observer)

A securities filing Monday shows that Chesapeake, Va.-based Dollar Tree Inc. began pursuing a possible acquisition of Matthews-based Family Dollar Stores Inc. in late February.

Concord airport mulls expansion for additional airlines

August 11, 2014

(The Independent Tribune, Concord)

Concord Regional Airport looks to expand as commercial airlines have expressed interest in adding flights there. More than 20,000 passengers have passed through the airport since Las Vegas-based Allegiant Airlines began passenger service in December.

Eco-industrial park gaining momentum in Mecklenburg

August 11, 2014

(Gaston Gazette)

A 667-acre former manufacturing site near Mount Holly has become an incubator for a green-energy businesses. ReVenture Park, located at the site of a former textile-dye manufacturing plant, is now home to 10 companies.

Residents concerned over Ballantyne apartments

August 11, 2014

(The Charlotte Observer)

Ballantyne residents say a proposed apartment complex on land currently zoned for retail would put a strain on local traffic and schools. Terwilliger Pappas Multifamily Partners wants the land, owned by Matthews-based Harris Teeter, rezoned for up to 240 apartment units.

United Airlines to cut 71 jobs at Charlotte Douglas

August 8, 2014

(The Charlotte Observer)

United Airlines will eliminate 71 jobs at Charlotte Douglas International Airport effective Oct. 1. The company says it will outsource the jobs, which include positions such as ticket agents, as a cost-cutting measure.

Chinese manufacturers returning to the Carolinas

August 8, 2014

(The Charlotte Observer)

As labor costs increase in China, textile companies based there are bringing manufacturing jobs back to the U.S., where energy and cotton prices are cheaper.

BofA said to reach settlement with DOJ over mortgage bonds

August 7, 2014

(The Charlotte Observer)

Bank of America has agreed in principle to pay between $16 billion and $17 billion to resolve investigations related to faulty mortgage bonds issued to investors between 2004 and 2008. 

Drone use increasing among Charlotte businesses

August 7, 2014

(The Charlotte Observer)

Charlotte-area businesses aren't waiting for Federal Aviation Administration approval to begin the use of commercial drones. Drones are being used primarily to take aerial photographs and videos for insurance and real-estate companies.

Federal Reserve approves BofA dividend increase

August 7, 2014

(The Charlotte Observer)

The Federal Reserve has approved Bank of America's resubmitted capital plan and will allow the Charlotte-based bank to raise its quarterly dividend from a penny to 5 cents. Unlike the original plan, the resubmitted plan does not include a stock buy-back.

Dollar General considers bid for Family Dollar

August 6, 2014

(The Charlotte Observer)

Dollar General may launch a counterbid to Dollar Tree's $8.5 billion offer to buy Matthews-based Family Dollar Stores, though both the Goodlettsville, Tenn.-based retailer and Family Dollar declined comment.

Charlotte's Premier to acquire software company for $117M

August 6, 2014

(The Charlotte Observer)

Premier Inc. will buy software provider TheraDoc for $117 million, the Charlotte-based health-care services company said Tuesday. TheraDoc is a subsidiary of Lake Forest, Ill.-based Hospira Inc.

Regulators say BofA must improve 'living will'

August 6, 2014

(The Charlotte Observer)

Federal regulators say Charlotte-based Bank of America and 10 other banks must make improvements to "living wills" that outline how they would be dismantled in a time of financial distress. The government required banks to submit the plans to prevent another federal bailout. 

Non-mortgage products boost revenue for Tree.com

August 6, 2014

(The Charlotte Observer)

Charlotte-based Tree.com, parent company of LendingTree, posted record revenue of $42.1 million in the second quarter, due partly to gains in non-mortgage products including education and personal loans.