Gov. Beverly Perdue said today that she has signed an executive order to allow federal unemployment insurance benefits to be restored to some 47,000 North Carolinians. The benefits went away when Perdue in April vetoed legislation that would have kept ...Read More »
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Bank of America said it has completed the sale of Balboa Insurance Co. to QBE Insurance Group. The companies announced the sale agreement in February. Balboa Insurance was acquired by Countrywide Financial Corp. in 1999. Bank of America acquired Countrywide in 2008.Read More »
VR Mergers & Acquisitions of Charlotte said today that it has completed the sale of Rock Hill, S.C.-based Lee’s Nursery. Lee’s Nursery sells and distributes nursery products, including perennials and annuals, trees, shrubs and plants. Terms of the deal were not ...
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Teen-clothing retailer Aéropostale opens its new clothing store for children, P.S. from Aéropostale, in Carolina Place today. The store is geared toward girls and boys ages 7 to 12.Read More »
Bank of America and Wells Fargo could see their debt ratings lowered by a major rating agency. Moody’s Investors Service said it might downgrade the ratings of the two corporations, as well as Citigroup, citing concerns that the U.S. government ...Read More »
Horizon Lines said it has reached an agreement with the majority of holders of its senior notes regarding refinancing the company’s debt. The agreement centers on a complete refinancing and a new asset-based revolving loan of up to $125 million, for ...Read More »
Cato Corp. today said its May sales were $80.7 million, flat compared with the same month last year. But same-store sales were down 3 percent over the same period. “May same-store sales were below expectations and we remain cautious given the continuing ...Read More »
Duke Energy Corp. said today that it plans to work with American Electric Power to develop a $275 million, 55-mile, extra-high-voltage transmission project with the Tennessee Valley Authority in Indiana and Kentucky. Duke and AEP have formed a joint venture, Pioneer Transmission, that plans to build ...Read More »
Wells Fargo will pay up to $16 million to compensate customers who are deaf, have hearing problems or have trouble speaking, the U.S. Justice Department said. The government said the settlement resolves Americans with Disabilities Act complaints filed by customers with hearing ...Read More »
Embattled shipping company Horizon Lines faces losing its listing on the New York Stock Exchange. Charlotte-based Horizon Lines said it has fallen below the NYSE’s listing standards because its market capitalization averaged less than $50 million during a 30 trading-day ...
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