Business

Business news from Charlotte and the Carolinas.

Passengers leave an Allegiant Air jet at Concord Regional Airport.
Mark Rumsey / WFAE

Allegiant Air will add non-stop service from Concord Regional Airport to New Orleans this fall. It will be the discount carrier's first destination outside Florida from the airport east of Charlotte.  

exim.gov

The main purpose of the Export-Import Bank of the United States (EXIM) is simple – provide loans to foreign entities, so they can buy American-made goods.  These loans, in essence, are a way to make American exports more affordable and more competitive.  Since 1945, the bank has operated as an independent agency, created and funded by Congress.

NC Ports Authority

Charlotte will get its first direct intermodal rail connection to the port of Wilmington this fall, when CSX begins the Queen City Express. The service announced this week puts Wilmington in competition with Charleston and other ports that serve Charlotte.

Charlotte is one of 10 U.S. cities that could get nonstop flights to Havana, Cuba, under tentative plans announced Thursday by the U.S. Department of Transportation.

Corning Inc.

Updated 11:20pm
Corning Optical Communications has picked a site off I-485 in northwest Charlotte for its new $38 million headquarters, a spokesman said Tuesday.

Bank of America

Bank of America expects to cut several thousand jobs nationwide in its consumer banking division over the next few years as customers shift their banking away from branches to mobile phones and computers.

Daimler Trucks North America

Commercial truck maker Freightliner has announced it will cut some 800 jobs at two facilities in Gaston County. 

David Boraks / WFAE

DUNCAN McFADYEN: North Carolina's Division of Motor Vehicles ruled last week that Tesla can't sell its electric cars at a store in Charlotte. That has a lot of people scratching their heads - why not? WFAE's David Boraks is with me now to talk about it.

David Boraks / WFAE

The North Carolina Department of Motor Vehicles has denied Tesla Motors' application to sell its electric cars at a new store near Charlotte. 

A federal appeals court on Monday overturned a $1.27 billion fine against Bank of America over loans by mortgage giant Countrywide Financial, which B of A acquired in 2008.

The appeals court said in a 30 page opinion that prosecutors failed to prove that Countrywide committed fraud when it made loans through its "Hustle" mortgage program.

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