Business

Local News
6:15 pm
Wed October 22, 2014

Duke Will Continue To Pass On Savings From Tax Cut

Credit Duke Energy/Flickr

North Carolina utilities are paying less in taxes to due to the legislature’s tax overhaul last year. The NC Utilities Commission says companies no longer have to pass on those savings to customers but Duke Energy still plans to.

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Local News
4:59 pm
Wed October 15, 2014

Bank of America Breaks Almost Even Despite Big Settlement

Credit Mike Mozart/Flickr

Bank of America broke roughly even in its third quarter earnings, despite paying part of the massive, more than $16 billion settlement with the federal government over mortgage fraud that helped spur the financial crisis.


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Local News
9:40 am
Mon September 29, 2014

Charlotte Company Hopes To Lead Electric Truck Revolution

A prototype of EV Fleet's Condor, which the company demonstrated during a demo day. The truck bed's paint will match the rest of the car in final versions, the company says.
Credit Ben Bradford / WFAE

Electric cars were largely novelties until Tesla introduced its Roadster in 2008. Now, a few small start-ups are trying to repeat Tesla’s success in another sector of the electric vehicle industry. They’re building trucks, hoping to sell them en masse to government and business fleets.


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Local News
7:00 am
Wed September 24, 2014

Duke Joins Proposal For Nation's Largest Wind Farm, Storage

An artist rendering of the energy storage facility.
Credit Magnum Energy

The nation’s largest wind farm in Wyoming would connect to  one of the largest energy storage facilities in Utah to power Los Angeles, in a proposal announced Tuesday by four companies, including Duke Energy. The project’s scale is more akin to a nuclear plant.


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Local News
5:58 pm
Mon September 15, 2014

Duke Energy Plans Major Solar Expansion In North Carolina

A Strata Solar project in Cleveland County. The company will sell a 65-megawatt project planned near Jacksonville, N.C. to Duke Energy.
Credit Strata Solar

The nation’s largest power company will also be one of the largest solar providers. Duke Energy wrapped up six months of shopping for solar projects today, and announced it will increase its North Carolina capacity by more than a third. Despite the increase, solar remains a tiny fraction of overall generation.


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Local News
4:44 pm
Mon September 15, 2014

AvidXchange Expanding, Creating 600 Jobs In Charlotte

Avidxchange co-founder Michael Praeger takes a moment as Gov. Pat McCrory applauds at a press conference in Charlotte.
Credit Michael Tomsic

 A software company founded in Charlotte is expanding to create about 600 jobs. AvidXchange will also build a new headquarters at the Music Factory.

AvidXchange's first office was in an old fire station on the corner of Ninth and Brevard in uptown Charlotte. When Michael Praeger co-founded the company in 2000, he said that office consisted of five desks in what looked like a small, brick warehouse.

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Local News
6:08 pm
Wed September 10, 2014

Slew Of Mergers Not Unique To Charlotte

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

The discount chain Dollar General officially launched a hostile takeover bid for Matthews-based rival Family Dollar today. Ten miles up the road, banana giant Chiquita signed an agreement to open its books to Cutrale-Safra—a collaboration of Brazilian companies—which threatened a hostile takeover. The merger battles are part of a larger, post-recession economic trend.


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Local News
5:54 pm
Thu September 4, 2014

Icahn Exits, Family Dollar Considers Rival Bids

Credit 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.


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Business
10:11 am
Thu August 21, 2014

Bank Of America Reaches $17 Billion Deal With Feds

Credit 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.

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Business
10:00 am
Thu August 21, 2014

Family Dollar Rejects Dollar General

Credit 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. 

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