Triangle

WakeMed, UNC Hospitals face penalties under new Medicare rating system

July 15, 2014

(The News & Observer, Raleigh)

Raleigh's WakeMed and Chapel Hill's UNC Hospitals could face millions of dollars in penalties under the Affordable Care Act. The hospitals are among 16 in North Carolina that Medicare has listed as the "worst-performing" regarding patient complications and infections.

AG's office sues Burlington kitchen remodeler

July 15, 2014

(WRAL.com)

N.C. Attorney General Roy Cooper filed a lawsuit against American Kitchen Corp., a Burlington-based home-improvement company that 38 homeowners say took upfront payments from them and failed to finish the jobs.

Merger approved for New Century, Select Bank

July 14, 2014

(The News & Observer, Raleigh)

State and federal regulators approved a merger between Dunn-based New Century Bancorp and Greenville-based Select Bank & Trust. The merger is expected to close on July 25. The combined bank will have 14 branches and will operate as Select Bank.

PSNC Energy plans Triangle pipeline extension

July 14, 2014

(The News & Observer, Raleigh)

Gastonia-based PSNC Energy is considering a pipeline extension to meet increased demand for natural gas in Franklin and Wake counties. Construction on the pipeline, which is expected to cost $35 million to $45 million, would begin in 2016 or 2017.

Lenovo still leads in PC shipments

July 11, 2014

(The News & Observer, Raleigh)

PC shipments rose 15.1% in the first quarter for Beijing-based Lenovo, which has its North American headquarters in Morrisville. The company maintained its position as the world's No. 1 PC-maker with a 19.2% market share. Competitor HP claimed 17.7% of the market.

Mark Martin named chief justice of NC Supreme Court

August 19, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory appointed Mark Martin chief justice of the N.C. Supreme Court. Martin, a Republican and senior associate justice since 2006, will replace Sarah Parker, who is retiring at the end of August, and will serve in the position for the next two months. He is seeking election to the seat in November.

French company breaks ground on new Durham plant

July 10, 2014

(The News & Observer, Raleigh)

BioMérieux broke ground on 25,000-square-foot plant in Durham where it will make products to detect bloodborne infections. The $48 million expansion will add 44 jobs to the French health diagnostics company's existing 630 at its U.S. headquarters there.

New law requires 3-judge panel for constitutional cases

August 18, 2014

(The News & Observer, Raleigh)

A new state law will require a panel of three judges, appointed by the chief justice of the state Supreme Court, to preside over constitutional challenges to laws. The state legislature passed the law to prevent plaintiffs from shopping for judges who they believe are likely to block laws approved by legislators.

Durham to get new industrial park

July 10, 2014

(The News & Observer, Raleigh)

Liberty Property Trust will build a 462,000-square-foot industrial park in Durham called Liberty Ridge. The Malvern, Pa.-based publicly traded REIT paid $4 million for the property, which will include industrial and distribution space. Liberty recently acquired five buildings in Durham's Imperial Center business park.

NC to pay off federal unemployment debt sooner than planned

August 18, 2014

(The News & Observer, Raleigh)

North Carolina says it is ahead of schedule on paying off federal debt amassed to pay off unemployment benefits after the Great Recession. The state now owes less than $600 million, down from a peak of $2.8 billion, and expects to pay it off by August 2015, earlier than its target date of November 2015.

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. 

McCrory defends handling of ethics filings

August 15, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory said he sold his stock in Duke Energy in April in response to media attacks that challenged his character, and that no rules were broken in the ethics filings regarding the sale. McCrory, a longtime employee of the Charlotte-based utility, issued the statement in response to the Raleigh News & Observer's front-page story that said he submitted incorrect filings earlier this year regarding his ownership of the stock.

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.  

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.