Triangle

First Citizens reports higher profit for fourth quarter

January 31, 2014

(The News & Observer, Raleigh)

The parent company of First Citizens Bank reported net income of $27.2 million in the fourth quarter, up 25% from the same period last year. The bank attributes the higher profit to a lower provision for loan losses and an increase in noninterest income, which more than doubled compared to 2012.

Cost of winter storm not yet known; state to focus on replenishing resources

January 31, 2014

(The News & Observer, Raleigh)

The cleanup cost of this week's winter storm is still unknown, and Gov. McCrory says the storm exceeded the state's expectations in some areas. Tony Tata, secretary of the state Department of Transportation, said his agency's priority now is replenishing sand, salt and brine in order to be prepared for future storms. 

Lenovo buying Motorola smartphone unit for $2.91 billion

January 30, 2014

(The News & Observer, Raleigh)

A week after announcing a $2.3 billion purchase of part of IBM's server division, Lenovo says it will purchase Google's Motorola handset unit for $2.91 billion. The deal will allow the world's biggest PC maker to enter the smartphone market in the United States.

TiVo to acquire Durham video technology company

January 30, 2014

(The News & Observer, Raleigh)

Durham-based Digitalsmiths, a video-discovery platform provider founded in 1998, will be acquired for $135 million by TiVo, the San Jose, Calif.-based company that laid the groundwork for digital video recording. Digitalsmiths employs more than 60 people in Durham and at an office in Denver.

NC Education Lottery earns 10% more in second half of 2013

January 30, 2014

(The Winston-Salem Journal)

The North Carolina Education Lottery earned $251 million during the second half of 2013, $23 million more than during the same period in 2012. Executive director Alice Garland says the lottery's goal is to post annual earnings of more than $500 million when the state's fiscal year ends June 30.

Commerce postpones shift to nonprofit recruiting agency

January 29, 2014

(The News & Observer, Raleigh)

Richard Lindenmuth, interim CEO of the new Economic Development Partnership for North Carolina, said the public-private partnership that will be responsible for job recruitment and marketing for the state Commerce Department won't begin its transition from the five existing divisions until July at the earliest.

Lenovo's smartphone division continues growth

January 29, 2014

(The News & Observer, Raleigh)

Shipments of Lenovo's smartphones rose more than any other manufacturer in 2013. The China-based company, which has its North American headquarters in Morrisville, claimed 4.9% of the market in the fourth quarter, up from 4.1% a year ago. Lenovo does not yet sell its smartphones in the U.S. or Europe.

Ratan takes helm as new CEO of Durham-based Bell and Howell

January 29, 2014

(The Herald-Sun, Durham)

Ramesh Ratan is the new CEO of Durham-based Bell and Howell, which makes and sells machines and software used for business communications and mail production. Ratan was previously with Conn.-based Pitney Bowes. 

 

State may bring in up to $30 million from Amazon sales tax collections

January 29, 2014

(The News & Observer, Raleigh)

An economist from the state Fiscal Research Division predicts Amazon's decision to collect sales tax in North Carolina could bring in $20 million to $30 million in state tax revenue, and $10 million to $13 million for city and county governments. The online retailer begins collecting N.C. sales tax Feb. 1. 

VantageSouth and Yadkin Bank to form state's largest community bank

January 28, 2014

(The News & Observer, Raleigh)

Raleigh-based VantageSouth Bank and Yadkin Bank will merge, creating the state's largest community bank with more than 70 branches and $4 billion in assets. VantageSouth CEO and president Scott Custer will lead the combined bank; the holding company's headquarters will be in Raleigh while the the banking business will be in Statesville.

Martin Marietta to acquire construction supply company

January 28, 2014

(The New York Times)

Raleigh-based Martin Marietta Materials has agreed to acquire Texas Industries, a construction supply company, in an all-stock deal valued at more than $2 billion. 

Chatham EDC launches website to market megasite

January 28, 2014

(The Winston-Salem Journal)

An economic development group has launched a new website to promote a megasite it hopes will attract a major automotive manufacturer. The website, www.chathamrandolphmegasite.com, created by the Chatham Economic Development Corp., provides maps, photos and details of the 1,774-acre site.

Campbell University to offer nursing degree program

January 28, 2014

(The Fayetteville Observer)

Campbell University received state approval to begin a nursing program beginning fall 2014. The new program, which will offer a bachelor of science degree, is expected to help alleviate nursing shortages in the region, where there are currently more than 1,000 nursing jobs open. 

Stock soars for Raleigh's BioDelivery Sciences after positive results for drug trial

January 27, 2014

(The News & Observer, Raleigh)

Shares of Raleigh-based BioDelivery Sciences International rose more than 50% Friday after the company reported positive clinical trial results for an experimental pain treatment. The stock price of the specialty pharmaceutical company is up 121% over the past year.

IBM deal will double Lenovo's NC workforce

January 24, 2014

(The News & Observer, Raleigh)

When Lenovo completes its acquisition of IBM's x86 server business, it will grow its global workforce by 7,500 and nearly double its North Carolina employment. Lenovo expects the deal to close in six to nine months, pending regulatory approval.

State names new public health director

January 24, 2014

(The News & Observer, Raleigh)

Penelope Slade-Sawyer will be the new director of the state Division of Public Health, replacing Dr. Laura Gerald who resigned last July. Slade-Sawyer is currently an assistant surgeon general at the U.S. Department of Health and Human Services; she will assume her new role on March 3.

IBM planning $1 billion round of first-quarter job cuts

January 23, 2014

(The News & Observer, Raleigh)

The CFO of IBM said the company will allocate $1 billion for first-quarter job cuts, the same amount the company allocated last year when it laid off an estimated 3,000 workers across North America, including an undisclosed number in Research Triangle Park. 

Lenovo to buy part of IBM's server business for $2.3 billion

January 23, 2014

(The News & Observer, Raleigh)

Lenovo Group will buy IBM's x86 server business for $2.3 billion, moving its global ranking from No. 6 to No. 3 in the server business. The China-based company, which has its North American headquarters in Research Triangle Park, bought IBM's PC business in 2005 and is now the world's No. 1 PC-maker though it has been expanding its smartphone and tablet divisions.

Cary's SAS reports $3 billion in revenue for 2013

January 23, 2014

(The News & Observer, Raleigh)

Cary-based software company SAS will announce today 2013 revenue of $3.02 billion, up 5.2% over the previous year. The company, which employs 13,814 workers worldwide including more than 5,000 in Cary, has experienced revenue growth every year since it began 38 years ago.

State awards pay increases to in-demand workers

January 23, 2014

(The News & Observer, Raleigh)

A relatively small number of state employees will receive salary increases of up to 10% in an attempt to reduce employee turnover in high-demand jobs. Among the 3,221 employees who will receive pay raises are nurses, law enforcement officers, accountants and computer specialists. Overall, the state employs about 90,000 people.