Business

The EpiCentre in Uptown Charlotte has a new owner. The Los Angeles-based CIM Group acquired the mixed-use development for a reported $130.5 million.

Charlotte will play host to two companies developing a new type of nuclear reactor. Oregon-based NuScale Power has announced it will open a new office in SouthPark and will hire 100 employees, after seeing an opportunity in the struggles of its Charlotte competitor.

Chiquita Brands International Friday reported a loss of $25 million in the first quarter, blaming increasing costs and extreme weather. But, the Charlotte-based company says it’s still on track to meet its 2014 goals.

Bank of America's annual shareholder meeting in uptown Charlotte Wednesday alternated from a love fest to a shouting match. And one issue hovered over the meeting – the announcement last week that Bank of America made a $4 billion mistake.

The meeting got off to an awkward start.

Bank of America board Chairman Chad Holliday was introducing the board members up for reelection when he was cut off by shareholder Richard Davet, who stood up far from the microphone and objected to holding a vote just a week after finding out about the bank's financial error. 

Duke Energy reported a nearly $100 million loss in the first quarter of this year—and its stock went up.

The loss comes from Duke selling its Midwest business—13 coal and natural gas plants—where it has less control over the price of electricity. The company estimates a $1.4 billion hit to its books. Other than the one-time loss, the company reported strong growth, partially due to a rebounding economy.

Governor Pat McCrory has sold his stock in Duke Energy, the company where he worked for nearly three decades. The sale came during a year when McCrory’s connections to Duke have been scrutinized.

Duke Energy held its annual shareholder meeting Thursday. The meeting has developed into something of a tradition: environmental groups use it as a rare opportunity to face, question, and berate the CEO of one of America’s largest power companies. This year, with a new CEO at the helm and Duke under fire for its handling of coal ash, tensions ran higher than usual.

The Charlotte Bobcats were swept out of the playoffs this week, but Coach Steve Clifford says the team achieved something this season it hasn’t had for a long time: relevancy.

Duke Energy’s Carolina utilities are top 10 in the nation for generating solar power, according to a new report released Monday.

Bank of America has suspended its planned dividend increase, after the Federal Reserve found problems in data the bank reported during its most recent stress test.