Business

Business news from Charlotte and the Carolinas.

Tom Bullock / WFAE

NoDa and Olde Mecklenburg breweries, along with members of a craft brewers group filed the case in Wake County Superior Court Monday.

The brewers argue two state laws which force them to enter distribution contracts if they produce more than 25,000 barrels of beer a year violate the North Carolina constitution.

David Boraks / WFAE

The bond ratings service Fitch has upgraded ratings for Charlotte Douglas International Airport, citing a healthy outlook for air traffic and the airport's relatively low costs.

A Charlotte-based bank started by former Bank of America executives is being sold. Capital Bank will become part First Horizon of Memphis, Tennessee, in a $2.2 billion-dollar deal announced Thursday morning.

Bank of America sign
Jennifer Lang / WFAE

Bank of America shareholders on Wednesday rejected a series of stockholder proposals, including one that would have required the jobs of chairman and CEO to be separate. During the company's annual meeting uptown, shareholders also easily elected the company's 14 nominees to the board.

How Long Can Price's Chicken Coop Hold Out In South End?

Apr 21, 2017
Price's Chicken Coop
Molly Mathis / Charlotte Observer

Drive down Camden Road in South End, and you’ll pass by shiny new office buildings, hip new restaurants and towering, luxury apartments. And in the middle of it all, you’ll also see a squat brick storefront that looks almost exactly like it did in the early 1960s.

Bank of America sign
Jennifer Lang / WFAE

Higher interest rates are helping boost financial results at Bank of America. The bank says profits rose 40 percent in the first three months of the year, compared with a year ago. B of A also saw growth in all its major businesses.

Wells Fargo sign at a bank branch
Flickr / Mike Mozart

An independent report’s findings have spurred Wells Fargo to claw back an additional $75 million in compensation from two executives over the banks’ use of fake customer accounts. But the investigation also shows the scandal goes much deeper and has gone on for far longer than previously known.

Jesus Pina assembles a tiramisu cake at Las Delicias Bakery on Central Avenue in Charlotte. Business there is down since President Trump's January immigration orders.
David Boraks / WFAE

Business leaders in the region's immigrant communities say President Trump's tougher line on immigration is having a chilling effect on businesses and the broader economy. Fear and uncertainty are keeping some shoppers home and threatening to dampen investment in immigrant businesses - one of the fastest growing parts of the economy.

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

Bank of America CEO Brian Moynihan sees a lot of optimism over the U.S. economy following the election of President Donald Trump. But at a Charlotte World Affairs Council lunch Wednesday, he said North Carolina continues to lose out because of House Bill 2, the 2016 law that limits protections for LGBT people.

Corning will expand its optical fiber plant in Midland, in Cabarrus County.
Corning Inc.

Corning Inc. says strong demand for optical fiber and cable is bringing another expansion in North Carolina. The company said Monday it will spend $176 million in Catawba and Cabarrus counties and create 410 jobs over the next two years.   

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