Business news from Charlotte and the Carolinas.

Lowe's recorded profits in the fourth quarter despite a red-hot housing market.

Shares fell 8 percent before the opening bell as healthy same-store sales were overshadowed by the profit miss and lower overall revenue.

Duke Energy headquarters in Charlotte.
David Boraks / WFAE

Duke Energy is reporting a profit of $703 million in the last three months of 2017. The company says cold weather boosted energy use, expenses were lower and it benefited from changes in the federal tax law.

Duncan McFadyen

A bankruptcy court filing shows that a high-tech battery maker in Concord has found a buyer for most of its assets. The filing by Alevo Manufacturing Inc. says an unidentified bidder has contracted to buy most of the equipment, raw materials and other assets for $5 million.

Flickr/Robert Scoble

Raleigh is the only city in the state still in the running for Amazon's HQ 2. Amazon has already said no to bids from Charlotte, the Triad and Hickory.

But newly released information on Hickory's bid to land the project gives us a glimpse of the tactics state officials have employed.

Financial services company MassMutual is moving about 300 corporate office jobs from south Charlotte to Massachusetts as part of a big restructuring announced this week.

The head of the Charlotte Regional Partnership says he won't release details of the city's pitch to land Amazon's massive second headquarters, even though Charlotte is now out of the running. Ronnie Bryant told WFAE Wednesday that's not the way recruiters do business.

In October, Charlotte Area Transit System added slogans to buses saying "Hey Amazon! #CLTisPrime"
David Boraks / WFAE

Amazon has given local business recruiters a bit of feedback on why Charlotte didn't make the list of 20 finalists for the company's planned $5 billion second headquarters. One key reason: a shortage of tech talent. 

Bank of America CEO Brian Moynihan spoke at a Charlotte World Affairs Council lunch Wednesday at the Hilton.
David Boraks / WFAE

The new tax law is having a short-term negative effect on profits at the nation's banks. Most, like Bank of America which reported earnings Wednesday, have announced big one-time charges that cut into profits. But overall, the new law is a good thing for banks. 

Bank of America said Wednesday that its fourth-quarter profits fell by nearly half from a year ago, as the bank had to record $2.9 billion in charges related to the new tax law. But setting aside those charges, the bank is showing signs that whatever damage was left over from the financial crisis is largely healed.


Confirming iPhone owners' suspicions that Apple purposefully slows the operation of older phones, Apple says that it does just that — and that slowing down processors makes it easier for old batteries to perform after they've begun to lose capacity.