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Business news and information from Charlotte and the Carolinas. 

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One of the Charlotte area's largest companies, Lowe's, is growing its profits but not as much as analysts want.

The home improvement giant reported a profit of more than $1.1 billion for its most recent fiscal quarter. That's an 8 percent increase over the same period (May through July) a year ago.

Lowe's CEO called the results "solid," and highlighted particularly strong growth in appliances and outdoor power equipment.

NC Unemployment Rate Rises For 4th Straight Month

Jul 21, 2015
Ben Bradford / WFAE

North Carolina’s unemployment rate once again ticked up slightly in June, the fourth straight month of rising unemployment. The rate now stands at 5.8 percent, up from May’s 5.7 percent and February’s 5.3 percent rates. It’s also 0.5 percent above the national average.


Ben Bradford / WFAE

Governor Pat McCrory stopped in Charlotte Wednesday—ostensibly to announce a financial company will bring new, high-paying jobs to the city. But the governor also used the opportunity to stump for an expansion the tax breaks used to lure the business.


The Industry That Wants More Coal Ash

Jun 22, 2015
Ben Bradford / WFAE

Since a spill polluted the Dan River early last year, coal ash has become an environmental head ache for Duke Energy. But while Duke, state regulators, and environmental groups struggle with how to safely store or bury more than 100 million tons of the waste, other industries don’t look at coal ash as waste—it’s a commodity, and they want more.


Jennifer Lang / WFAE

The pending merger of Family Dollar Stores and Dollar Tree now appears to be headed toward completion in early July.  


Bank of America is one of six financial institutions hit with a total of nearly $1.8 billion in fines Wednesday by the Federal Reserve. The fines stem from foreign currency trade violations. 

Mike Linksvayer / Flickr https://creativecommons.org/publicdomain/zero/1.0/

About forty protesters rallied outside Duke Energy’s headquarters, chanting “Up with solar, down with coal,” as shareholders left the annual meeting. The clash between environmental advocates and Duke Energy about solar energy and fossil fuels also extended inside the meeting, even the demonstrations.


Bank of America shareholders Wednesday re-elected the bank’s board of directors at its annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Shareholders also affirmed the board’s decision to give a $13 million compensation package to Moynihan.

Shareholders re-elected Bank of America’s board of directors at today’s annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Many shareholders argued that should have been put up for a vote.

Shareholders also approved the board’s recent decision to drop Moynihan’s compensation package by a $1 million, to $13 million. All but $1.5 million of that is in company stock.

Courtesy of Charlotte Douglas International Airport

Monday, Charlotte Douglas International airport dedicated a new rental car facility and the new hourly parking deck. It marks the end of an eight-year, $1.5 billion construction and expansion project.

How did they celebrate? By announcing a new 10 year, $2.5 billion dollar expansion.

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