Triangle

Raleigh's Salix to merge with Italian drug company

July 9, 2014

(The News & Observer, Raleigh)

Salix Pharmaceuticals will merge with Cosmo Pharmaceuticals of Lainate, Italy and will reincorporate in Ireland, which will allow the company to reduce its tax rate. Salix will maintain its headquarters in Raleigh after the deal closes later this year.

Raleigh's inaugural Rock 'n' Roll Marathon had $8 million impact

July 8, 2014

(The News & Observer, Raleigh)

The economic impact of Raleigh's Rock 'n' Roll Marathon in April was $8.13 million, according to a study commissioned by event organizers. The report, which was based on survey responses from 4,400 runners, shows visitors from outside of Raleigh spent $1.02 million on hotels and $3.62 million on food, entertainment and shopping.

Walden report predicts jobs, economic growth in 2014

July 8, 2014

(The News & Observer, Raleigh)

In his bi-annual report on the state's economy, N.C. State economist Michael Walden says North Carolina will experience economic and jobs growth during the second half of the year, but the disparity between cities and rural areas will continue. 

Yadkin completes merger with VantageSouth

July 8, 2014

(Winston-Salem Journal)

Elkin-based Yadkin Financial Corp. completed its acquisition of Raleigh-based VantageSouth Bancshares, creating the fourth largest bank headquartered in North Carolina. The combined bank, which will be based in Raleigh, will have assets of $4 billion and 74 branches in the Carolinas.

Chinese government OKs Lenovo deal to acquire IBM server unit

July 8, 2014

(WRAL TechWire)

The Chinese government has approved Lenovo's proposed $2.3 billion acquisition of IBM's x86 server unit. U.S. officials have expressed security concerns over the deal, which would affect 2,000 IBM Triangle workers.

Martin Marietta completes purchase of Texas Industries

July 3, 2014

(The News & Observer, Raleigh)

Raleigh-based Martin Marietta Materials completed its $2.7 billion acquisition of Texas Industries. The deal makes Martin Marietta the largest U.S. supplier of construction aggregate products including gravel and sand for use in building sidewalks and highways.

Morrisville's Furiex acquired by Actavis subsidiary

July 3, 2014

(The News & Observer, Raleigh)

Forest Laboratories completed its $1.1 billion acquisition of Morrisville-based Furiex Pharmaceuticals Wednesday. The New York-based company was acquired by Dublin-based Actavis in a $25 billion deal on Tuesday.  

Senate blocks McCrory's "Carolina Comeback"

July 2, 2014

(The Charlotte Observer)

Pat McCrory's attempt to rebound from a tough first year in office has been stymied by the N.C. Senate.

Viamet plans IPO

July 2, 2014

(News & Observer, Raleigh)

Durham-based Viamet Pharmaceuticals, a drug developer co-founded by former UNC Chapel Hill chancellor Holden Thorp in 2005, hopes to raise $75 million in a public filing.

Raleigh to relaunch business incubator

July 2, 2014

(News & Observer, Raleigh)

The City Council has decided to relaunch the Raleigh Business and Technology Center. It shuttered the business incubator last year after an audit discovered serious financial problems.

Senate rejects budget without a vote

July 1, 2014

(News & Observer, Raleigh)

In a rare legislative maneuver, the N.C. Senate rejected the House's education-focused budget on Monday without even holding a vote.

McCrory vows veto of charter-schools bill

July 1, 2014

(The Charlotte Observer)

Gov. Pat McCrory said Monday that he would veto a charter school bill, if it's approved by the General Assembly, because of a provision that would keep secret how much employees are paid. 

WakeMed, Duke talk "virtual merger"

July 1, 2014

(News & Observer, Raleigh)

WakeMed Health and Hospitals and Duke Medicine have started discussions to coordinate operations to lower operating costs and improve treatment.

Bayer to expand in RTP

July 1, 2014

(Winston-Salem Journal)

Bayer CropScience will invest nearly $30 million to expand its North American and international seeds headquarters at Research Triangle Park.

Session stalemate stalls Tillis campaign

June 30, 2014

(News & Observer, Raleigh)

The stalemate that has stalled North Carolina's budget has also become a drag on Thom Tillis' U.S. senate campaign.

Ex-FBI agent goes to work for Board of Elections

June 30, 2014

(News & Observer, Raleigh)

The FBI agent who arrest former House Speaker Jim Black and U.S. Rep. Frank Ballance Jr. is now an investigator with the state Board of Elections.

Lenovo's acquisition of IBM server unit still under review

June 27, 2014

(WRAL TechWire)

Concerns over security have left Lenovo's $2.3 billion deal to acquire IBM's x86 server unit in limbo, according to the Wall Street Journal. The report says the U.S. government is worried the servers, which are used in national communications networks, "could be accessed remotely by Chinese spies" or otherwise compromised.

Texas life sciences company moves to Chapel Hill

June 27, 2014

(The News & Observer, Raleigh)

EpiCypher, a life sciences startup, has moved its headquarters from Texas to Chapel Hill and appointed Sam Tetlow CEO. Six of the company's eight employees are based in Chapel Hill. EpiCypher develops and makes products for pharmaceutical and biological research.

Report shows Raleigh area execs plan to increase hiring for tech jobs

June 26, 2014

(WRAL TechWire)

A report released Wednesday shows 15% of Raleigh area CIOs are planning to increase hiring for information-technoloyg workers over the next six months. Of those surveyed, 64% of CIOs said it is difficult to find skilled workers. Networking and applications development ranked as the hardest skills to find.

Duke Energy Progress wants to charge households more, businesses less for renewables

June 25, 2014

(The News & Observer, Raleigh)

Raleigh-based Duke Energy Progress wants to increase household fees for renewable energy, which is generated mostly from solar farms, while lowering the costs for businesses and industrial customers. If the proposal is approved by the N.C. Utilities Commission, the new charges would go in effect in December.