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Icahn Exits, Family Dollar Considers Rival Bids

Sep 4, 2014
Courtesy of Carl Icahn's Twitter page

The future of Family Dollar is uncertain—it’s in the midst of a bidding war as its board of directors decides whether to sell the company to Dollar Tree or Dollar General. But this much is certain: The billionaire investor who helped spur this pending ownership change is now cashing in.


Jennifer Lang / WFAE

The U.S. Justice Department and Bank of America have finalized a record settlement of nearly $17 billion. The Charlotte-based bank will pay the government nearly $10 billion and provide an additional $7 billion in consumer relief.

Bank of America has had countless settlements related to its mortgage lending practices that contributed to the financial crisis, but this is far and away the largest. In fact, it's the biggest settlement ever reached between the U.S. Justice Department and a single company.

Family Dollar Rejects Dollar General

Aug 21, 2014
Jennifer Lang / WFAE

Matthews-based discount chain Family Dollar announced Thursday morning it's rejected an attempted acquisition by rival Dollar General. Family Dollar is sticking with an earlier offer from Dollar Tree, even though that offers is $1.2 billion less. 

WASHINGTON Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.

The officials say the bank will pay $10 billion in cash and provide consumer relief valued at $7 billion.

They spoke with The Associated Press on condition of anonymity because the deal isn't scheduled to be announed until Thursday at the earliest.

The bank declined comment. 

Dollar General Starts Bidding War For Family Dollar

Aug 18, 2014
Jennifer Lang / WFAE

A bidding war is underway to buy Matthews-based retail discounter Family Dollar. A few weeks ago, Dollar Tree agreed to an $8.5 billion deal with Family Dollar.

On Monday, Dollar General CEO says his company is willing to pay $9.7 billion. Plus a $300 million break-up fee for Family Dollar to renege on its merger agreement. 


Brazilian Companies Bid For Chiquita

Aug 11, 2014
Jeremy Brooks https://creativecommons.org/licenses/by-nc/2.0/

Since March, Banana giant Chiquita has been preparing to merge with Fyffes, an Irish fruit company, to become the world’s largest banana seller. Today, Chiquita received an unsolicited, enticing offer from two Brazilian companies, which could potentially derail the deal.


Duke Energy/Flickr

Duke Energy earned more than $600 million in its second quarter this year, 80 percent more than last year.


Governor Pat McCrory has appointed an acting director of the State Bureau of Investigation. B.W. Collier is a 26-year veteran of the bureau, during which time he has served in a variety of roles, including drug investigator, pilot, and bomb squad commander. He was appointed director of Alcohol Law Enforcement last year.

The state budget signed by Gov. McCrory today transfers the SBI from the Department of Justice to the Department of Public Safety, where it will operate as an independent agency. 

A key General Assembly leader says North Carolina lawmakers are looking to return to Raleigh next week to take up some pending legislation. But House and Senate Republicans have agreed to nothing so far. 

Republican Paul Stam is the House's second highest-ranking member. He presided today over a skeleton meeting of the chamber to keep this year's work session going in keeping with the state constitution. 

Duncan McFadyen

The city of Charlotte is looking to regulate drivers for smartphone-based ridesharing services including Uber-X and Lyft. But taxi drivers say the proposed restrictions still give the companies an unfair advantage.

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