Business

Local News
8:14 pm
Wed June 11, 2014

NC Senate Passes Airport Commission Bill

Credit Chris Ford / Flickr

The North Carolina Senate has passed a bill that could strip control of Charlotte Douglas Airport from the city council and end a year-long legal impasse in the state’s favor—all less than two days after the legislation became public.


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Business
9:35 am
Wed June 11, 2014

Are NC Film Incentives Worth It? Part 1: How They Work

A chair on set of CBS's "Under The Dome"
Credit Courtesy of EUE/Screen Gems

For the past seven years North Carolina has been aggressively trying to lure movie and television shows to film in the state. Their bait? Tax dollars.

Since the program began it has been hugely successful. But the film incentive program is controversial. In Raleigh there is a movement to change the program or let it sunset at the end of this year.

This week, we take a closer look at the incentives program and proposals to change it. This report looks at how the system works and how much money just one TV show spends in the state.

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Local News
3:45 pm
Wed June 4, 2014

Lawmakers Try To Rally Support For Film Funds

In Raleigh Wednesday, a bipartisan group of lawmakers took to a stage of sorts, in an effort to build support for the state’s film incentives. The tax rebate program faces an uncertain future and may expire at the end of the year. 

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Local News
5:35 am
Fri May 23, 2014

Matthews Company Makes Life-Saving Food For UNICEF, USAID

A child in Rwanda eats a packet of MANA.
MANA Nutrition

Malnutrition contributes to more than a third of deaths of children under five worldwide. For decades, these children had to be treated in in-patient clinics. But a peanut-based paste is making treatment more accessible, and it’s exploding in popularity. One of the companies that helps meet the demand is based in Matthews.


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Local News
4:20 pm
Tue May 13, 2014

EpiCentre Sold To Calif.-Based Real Estate Group

Credit Jason E. Miczek

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.


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Local News
10:44 pm
Sat May 10, 2014

Babcock & Wilcox Struggles Prompt Nuclear Reactor Competitor To Open Charlotte Office

A one-third scale test model of the reactor runs on electricity, not nuclear power, at Oregon State University.
Credit NuScale

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.


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Local News
5:29 pm
Fri May 9, 2014

Chiquita Blames Higher Costs, Weather For $25 Million First-Quarter Loss

Credit Jeremy Brooks https://creativecommons.org/licenses/by-nc/2.0/

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.


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Local News
7:47 pm
Wed May 7, 2014

Love, Anger And A $4 Billion Error: Bank Of America's Annual Meeting

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. 

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Local News
3:31 pm
Wed May 7, 2014

Duke Stock Up After 1st Quarter Earnings Loss

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.

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Local News
3:28 pm
Fri May 2, 2014

McCrory Sheds Duke Stock

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.

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