Business

Business news and information from Charlotte and the Carolinas. 

Dollar Tree To Acquire Matthews-based Family Dollar For $8.5 Billion

Jul 28, 2014
Jennifer Lang / WFAE

Dollar Tree, the nation’s leading discount variety store, announced Monday morning that it is buying Matthews-based Family Dollar Stores Inc.

The cash-and-stock deal has a value of $8.5 billion, company officials said. It heads off a potentially long and ugly proxy fight with activist investor Carl Icahn, who has been pushing to force a sale of the company.

Ben Bradford / WFAE

In the span of five years, the solar industry in North Carolina has grown from nearly non-existent to fourth-largest in the nation, behind California, Arizona, and New Jersey. The pace is accelerating, with solar capacity set to more than double in the state, at least this year. The state’s powerful electric utilities are pushing changes that could blot out the industry in North Carolina.


Michael Tomsic

The company behind Bubble Wrap is popping in nearly 1,300 jobs in Charlotte. Sealed Air Corporation announced Wednesday it's moving its headquarters here from New Jersey. The Fortune 500 company could eventually get more than $41 million in state and local incentives.

Julie Rose / WFAE

Bank of America announced its second quarter earnings Wednesday morning. The nation’s second-largest bank returned to earning a profit, but missed analysts’ expectations, as it still feels the effect of bad mortgages.


Teaching Farmers How To Farm In Concord

Jul 14, 2014
Tasnim Shamma

Say you want to become a farmer. If you didn't grow up on a farm, where do you start? In Cabarrus County, you can go to farm school.

The Elma C. Lomax Incubator Farm was launched in 2009 to give first-generation farmers an opportunity to learn the trade.

And earlier this month, it was the subject of a funding controversy that led to the organic farm being shut down for a week in the middle of the growing season.

adidas.com

Two soccer powerhouses, Germany and Argentina, will compete this weekend in the World Cup final. The tournament is the most watched sporting event on Earth, but that passion may have negative economic ramifications, a UNC Charlotte economist has found.

  

Wikipedia

Wells Fargo’s profits were up for the second quarter. The bank is reporting net income of $5.73 billion. WFAE’s Duncan McFadyen reports the company is trying to diversify in order to make up for a decline in its mortgage business.


IllicitOhio.com

If you’ve been in the area long enough, you’ll remember Jim and Tammy Faye Bakker, the televangelists who built a sprawling religious theme park in Fort Mill in the 1980s. A scandal led to the park closing its doors. Now, a new evangelical ministry is hoping to restore parts of the old theme park, but as WFAE’s Nick de la Canal reports, there’s a fear that history may repeat itself.


Nick de la Canal / WFAE

Fireworks will light the Charlotte skyline tonight in what’s billed as the southeast’s largest fireworks show. There will also be plenty of unofficial fireworks displays on rooftops and in backyards across the region. It’s not legal to buy aerial explosives in North Carolina, so to get the good stuff, North Carolinians are streaming across the border this week.


WFAE

Billionaire activist investor Carl Icahn Wednesday exercised his stock options and became Family Dollar’s largest shareholder. The stock price for the Matthews-based company has gone up 8 percent since Icahn started pushing for a sale.


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