Triangle

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.

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.

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. 

Raleigh's First Citizens reveals new executive team

June 24, 2014

(The News & Observer, Raleigh)

First Citizens Bank announced a new executive team that will assume leadership once the bank completes its purchase of S.C.-based First Citizens Bank & Trust. As previously announced, Frank Holding Jr. will be chairman and CEO. Peter Bristow, current chief operating officer of the S.C. bank and Holding's brother-in-law, will be president.

Lenovo seeking patent for device similar to Google Glass

June 25, 2014

(WRAL TechWire)

Lenovo filed a patent application last December for a device that appears similar to Google Glass. The patent application, published by the U.S. Patent and Trademark Office, includes diagrams of a hands-free device that turns vibrations into sounds and features visual applications.