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Wells Fargo sign at a bank branch
Flickr / Mike Mozart

High-level changes may be in the works at Wells Fargo. The Wall Street Journal reports the embattled bank is eyeing changes that will likely include the departure of chairman Stephen Sanger. He's held the post since October, when then-chairman and CEO John Stumpf abruptly stepped down.

Governor Roy Cooper announces Allstate expansion in Charlotte.
Alex Olgin / WFAE

Allstate Insurance Company is bringing 2,250 jobs to Charlotte. The governor announced the expansion Wednesday at the Chamber of Commerce. The insurer said it will hire claims specialists, actuaries, underwriters, IT professionals and support personnel over the next three years as part of an expansion of the operations center in Charlotte.


The CEO of Charlotte-based snack maker Snyder's-Lance says he's not satisfied with the company's financial performance. As the company announced quarterly results Tuesday, CEO Brian Driscoll outlined a plan to increase profitability by 2020.

Ben Bradford

About two years ago, Salisbury improved the download speed of its city-owned internet service to 10 gigabits per second, making it one of the fastest systems in the country. By comparison, Google Fiber is one gigabit. Salisbury officials predicted that Fibrant would create jobs and attract new businesses. But Fibrant is losing millions of dollars annually and city officials are considering a way out.

Bank of America sign
Jennifer Lang / WFAE

"Against modest economic growth of 2 percent, we had one of the strongest quarters in our history." That is how Bank of America CEO and Chairman Brian Moynihan characterized the Charlotte based bank's second quarter results this morning. B of A saw profits rise 10 percent from last year with net earnings of $5.3 billion for the quarter.

bank of america sign
MoneyBlogNewz / Flickr / https://www.flickr.com/creativecommons/by-2.0/

Billionaire Warren Buffett's company is about to become Bank of America’s largest investor, when it exercises rights to buy 700 million shares in the bank. The purchase will mean a big payoff, at least on paper, for Berkshire Hathaway's cash infusion to the bank six years ago. 

Auto Insurance Rates Going Up

Jun 16, 2017
Charlotte's roads are jammed, but the McCrory administration says the state's new road funding formula will help.
David Boraks / WFAE

Many North Carolina car owners will see their auto insurance rates go up soon, but not nearly as much as insurance companies requested.

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.

Updated 3:07 p.m.
Warmer winter weather slowed Duke Energy's electricity sales in the first three months of the year. But profits still rose slightly, and executives say overall Duke is growing.  During the first quarter, the company also logged expenses from its October merger with Piedmont Natural Gas, and saw international revenues disappear, after the December sale of its Latin American operations.

A healthy outlook for air traffic has earned Charlotte Douglas airport a bond-rating upgrade from Fitch.
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.

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