Charlotte

Judge won't delay Bank of America settlement over Countrywide losses

February 20, 2014

(The Charlotte Observer)

A New York judge rejected American International Group's request to delay a final judgement on an $8.5 billion settlement between the Charlotte-based bank and private investors over losses from mortgage-backed securities.

Park Sterling chooses site, will apply to open Virginia branch

February 20, 2014

(The Charlotte Observer)

Charlotte-based Park Sterling Bank will apply this week to open its first branch in Virginia. The bank will open a 7,500-square-foot office in Richmond for commercial loan production which will later become a full-service branch.

Investigation widens in federal probe of coal-ash spill

February 20, 2014

(The Winston-Salem Journal)

About 20 additional employees from the state Department of Environment and Natural Resources received subpoenas and the department was ordered to turn over any records relating to investments, cash or other items it may have received from Charlotte-based Duke Energy.

Profit of $2.7 billion for Duke Energy in 2013

February 19, 2014

(The Charlotte Observer)

Duke Energy posted earnings of $2.7 billion for 2013, compared with $1.8 billion in 2012. The Charlotte-based utility's merger with Progress Energy and a strong performance in its third and fourth quarters led to the strong earnings.

UNC Charlotte opens $35 million business incubator

February 19, 2014

(The Charlotte Observer)

A 96,000-square-foot business hub called PORTAL (Partnership, Outreach and Research to Accelerate Learning) was unveiled on UNC Charlotte's campus Tuesday. The university hopes the $35 million center will help it produce about 2,000 jobs over the next decade through its partnerships with existing businesses.

Housing advocacy group says BOA discriminated against Latino borrowers

February 19, 2014

(The Charlotte Observer)

The National Fair Housing Alliance filed a formal complaint against Bank of America after an undercover investigation showed the bank discriminated against potential Latino borrowers at branch in Charleston, S.C.

Cook fired over McCrory incident offered help from Charlotte mayor

February 19, 2014

(The Charlotte Observer)

Charlotte Mayor Patrick Cannon reached out to a gourmet-food store cook who was fired Sunday after a confrontation with Gov. Pat McCrory, offering to help the man find a new job. 

Curtiss-Wright moves headquarters from NJ to Charlotte

February 18, 2014

(The Charlotte Observer)

Manufacturer Curtiss-Wright has relocated its headquarters from New Jersey to the Ballantyne area of Charlotte. The company's roots are in airplane manufacturing, but it has diversified its offerings to include a variety of defense and aerospace products. The company has no immediate plans to hire additional workers in Charlotte. 

Duke Energy sheds 13 Midwest power plants

February 18, 2014

(The Charlotte Observer)

Charlotte-based Duke Energy will sell its ownership stake in 13 Midwest power plants, mostly in Ohio and including one in Illinois and one in Pennsylvania. According to Duke CEO Lynn Good, the plants have not met financial expectations. 

Italian valve maker moves to Charlotte for expansion

February 18, 2014

(The Charlotte Observer)

A valve manufacturer is relocating from to Charlotte from Rock Hill, S.C. after outgrowing its space there. Italy-based Bonomi North America will add 11 new jobs and up to five more over the next three years. 

Mooresville company helps build bobsleds for Olympic team

February 17, 2014

(The Charlotte Observer)

Hans deBot and his company, deBotech Inc., were hired to develop the composite bodies of Team USA's bobsleds and skeletons used at the 2014 Olympic games. The company, founded 17 years ago in deBot's garage, uses carbon fiber to make parts for military aircraft, NASCAR teams and commercial jets.

Duke Energy seeks to add more solar capacity in Carolinas

February 17, 2014

(The News & Observer, Raleigh)

Charlotte-based Duke Energy wants to buy 300 megawatts of solar power from solar developers in the Carolinas, or purchase the projects outright. The expansion would nearly double its solar capacity. 

Founder of Charlotte's Rodgers Builders dies

February 17, 2014

(The Charlotte Observer)

Bonar Day "B.D." Rodgers Jr. died Friday at age 89. The Charlotte native started Rodgers Builders Inc. in 1963 and was also an active leader in the community. Rodgers Builders, which has offices in Charlotte, Raleigh and Greenville, S.C., was involved in many high-profile projects including the Bechtler Museum of Modern Art, Carolinas Medical Center's Levine Cancer Institute and the new BB&T Ballpark in uptown Charlotte.

Bank of America lays off mortgage, technology workers

February 14, 2014

(The Charlotte Observer)

A spokesman for Bank of America said Thursday the bank has cut a small number of mortgage jobs in the Charlotte area, though he declined to give an exact number. On Wednesday, the bank confirmed that it laid off an unspecified number of workers in its technology and operations division for the second month in a row.

Charlotte airport cancels most flights Thursday; passengers stranded

February 14, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport canceled more than 1,340 flights on Thursday, the most it has canceled in a single day in more than a decade. About 1,000 passengers spent the night in the terminal. 

MetLife reports improved earnings in fourth quarter

February 14, 2014

(The Charlotte Observer)

MetLife reported a fourth quarter profit of $1.6 billion, up 14% over a year ago. Lower derivatives losses and lower expenses contributed to the improved results for the nation's largest life insurance company.

Justice Department investigates state agency after coal-ash spill

February 14, 2014

(The News & Observer, Raleigh)

Following last week's coal-ash spill into the Dan River in Eden, the U.S. Justice Department began a criminal investigation of the state agency charged with regulating Duke Energy. Both the N.C. Department of Environment and Natural Resources and the Charlotte-based utility received subpoenas and both have vowed to cooperate in the case.

Comcast to buy Time Warner Cable for $45.2 billion

February 13, 2014

(The News & Observer, Raleigh)

Comcast has agreed to buy Time Warner Cable for $45.2 billion in stock, or $158.82 a share. Time Warner shares closed at $135.31 on Wednesday. The boards of both companies approved the deal, which should close by the end of the year, pending regulatory approval.

Winter storm leads to canceled flights at Charlotte airport

February 12, 2014

(The Charlotte Observer)

US Airways canceled more than 150 flights at Charlotte Douglas International Airport Tuesday, and expected to cancel more today and Thursday. Many flights were canceled to prevent passengers from getting stranded in anticipation of today's winter storm.

Food Lion parent company wants pork suppliers to use more humane methods

February 12, 2014

(The Salisbury Post)

Delhaize America will encourage its pork suppliers to eliminate the use of restrictive gestation crates for breeding pigs. The Salisbury-based company will require providers to submit reports on their progress in switching to the use of open pens for raising pigs.