WCNC.com | Local News for Charlotte, North Carolina

Home
:

Local Business

11/21/2008

NC jobless rate rises to 7 percent in October
The wave of layoffs at North Carolina companies led to a statewide unemployment rate of 7 percent in October, the highest in almost six years.

11/20/2008

Source: GMAC eyeing HQ move to Charlotte
GMAC Financial Services, the troubled lender applying to become a bank holding company, is negotiating for office space in Ballantyne for a possible move of its headquarters to Charlotte, a source familiar with the situation said today.

11/19/2008

BofA CEO: Job loss will be 'fairly significant'
Bank of America CEO Ken Lewis says job losses at his company could be "fairly significant" as a result of its merger with Merrill Lynch.

Hanesbrands laying off more NC workers
A North Carolina textile company says it is laying off white collar workers in its home city as part of a cutback that includes closing a yarn plant elsewhere in the state.

11/17/2008

Lowe's reports 24 percent decline in earnings
Lowe's earnings dropped 24 percent in the third quarter as shoppers continued to hold back on home-related spending.

11/14/2008

Local retail stores suffering as holiday season approaches
Local retailers are feeling the pinch and just before their most crucial time of year -- the holiday shopping season.

Lancaster unemployment rates among highest in region
The cheering at a little league soccer game in Lancaster is pretty deceiving.

11/13/2008

NY AG subpoenas Bank of America executive pay data
New York Attorney General Andrew Cuomo has subpoenaed Bank of America for a list of every executive who received a bonus of more than $250,000 over the past two years.

11/14/2008

Local mall could seek bankruptcy protection
Tough economic times could mean trouble for Carolina Place Mall in Pineville.

11/13/2008

State treasurer calls Wachovia deal 'highway robbery'
North Carolina treasurer Richard Moore is gearing up to fight the planned banking merger of Charlotte-based Wachovia with San Francisco-based Wells Fargo.

11/12/2008

Wells Fargo CEO speaks to Wachovia workers in NC
Wells Fargo's chief executive on Wednesday praised the legacy Wachovia workers established in this North Carolina city that was home to the regional bank called Wachovia before its 2001 merger with a larger rival in Charlotte.

11/11/2008

Charlotte's Horizon Lines eliminating 70 positions
Shipping company Horizon Lines of Charlotte plans to eliminate about 70 jobs in order to reduce costs.

11/06/2008

PPG expanding Shelby plant, adding 120 jobs
Booming demand for wind power is leading a PPG Industries unit to add 120 jobs and expand a North Carolina plant where it produces materials used for wind turbines.

Wachovia jobs cuts will have domino effect
Even before Wells Fargo announced job reductions associated with its merger with Charlotte-based Wachovia the effects were felt at local businesses.

Wells Fargo will downsize Wachovia's investment bank
Wells Fargo & Co. executives signaled Wednesday that the bank will downsize Wachovia Corp.'s corporate and investment bank after the companies' planned merger.

11/05/2008

Storms trim Duke Energy 3Q; profits fall 65 pct
Duke Energy says its third-quarter profit slid 65 percent because of milder weather and outages caused by Midwestern storms.

11/04/2008

Wells Fargo to lay off Fort Mill workers
Wells Fargo & Co. will lay off workers at its mortgage center in Fort Mill, the bank confirmed to the Charlotte Observer on Tuesday.

Deals make tax holiday even sweeter
This is the first tax-free weekend in North Carolina for Energy Star-qualified products.

11/03/2008

Blackwater lays off workers on vehicle project
Blackwater Worldwide has laid off an undisclosed number of employees after the security firm failed to win a government contract for its Grizzly armored vehicle to replace the Humvee.

10/31/2008

York County paper mill temporary closing for holidays
Papermaker AbitibiBowater says it will temporarily shut down its Catawba plant in York County the week of Christmas because of decreasing demand.

10/28/2008

Home heating rate going up
Heating your home may cost an extra $18-$20 this winter thanks to a 1.65 percent rate hike that begins on Saturday.

BB&T to get $3.1 billion from bailout
BB&T Corp. says it has received preliminary approval to get $3.1 billion in government bailout funds, but the bank says it already had enough money to lend.

10/23/2008

US Airways reports $865 million 3Q loss
US Airways Group Inc. says it lost $865 million in the third quarter as it struggled with high fuel prices, but it still beat analyst estimates.