Top News & Analysis Charlotte

  • WASHINGTON, Aug 23- New U.S. single-family home sales unexpectedly surged in July, reaching their highest level in nearly nine years amid robust demand, brightening the housing market outlook and bolstering views that economic growth will pick up in the third quarter. "A very rosy picture is beginning to emerge on the housing market, pointing to sustained...

  • CHARLOTTE, N.C. _ Premier Inc. on Monday reported fiscal fourth-quarter net income of $101.6 million, after reporting a loss in the same period a year earlier. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Premier Inc. expects full-year earnings in the range of $1.71 to $1.82 per share, with...

  • ASHEVILLE, N.C.— Hillary Clinton "owes the state of North Carolina a very big apology," Donald Trump thundered, condemning the loss of manufacturing jobs due to free-trade deals supported by the Democratic presidential nominee. In the state that may be the most pivotal to Trump's White House bid, the audience for the Republican's chief economic pitch is shrinking...

  • CHARLOTTE, N.C. _ Cato Corp. on Thursday reported fiscal second-quarter profit of $15.9 million. On a per-share basis, the Charlotte, North Carolina- based company said it had profit of 57 cents. Cato expects full-year earnings to be $2.32 to $2.41 per share.

  • BOSTON, Aug 17- Hedge fund Maglan Capital demanded on Wednesday that telecom carrier FairPoint Communications remove four board members, stepping up pressure on a company whose shares it believes could trade 70 percent above their current value. In a letter sent to the board and FairPoint Chief Executive Paul Sunu and seen by Reuters, the hedge fund's two...

  • BOSTON, Aug 17- Hedge fund Maglan Capital on Wednesday demanded that telecom carrier FairPoint Communications remove four board members, stepping up the pressure on a company whose shares it thinks could trade 70 percent above their current value. In a letter sent to the board and FairPoint Communications CEO Paul Sunu on Wednesday, and seen by Reuters, the...

  • NEW YORK— GreenPal CEO Bryan Clayton came to realize he had to scrap his company's $90,000 website. The business aims to link homeowners with lawn care companies, but its software wasn't equipped to easily handle requests from mobile users, and 85 percent of visitors using those devices left without a transaction. "We knew we had to completely gut the entire...

  • NEW YORK— Mid-America Apartment Communities Inc. is buying rival real estate investment trust Post Properties in a deal worth about $3.9 billion. Using MAA's Friday closing price of $102.15, that would mean Post Properties shareholders would receive about $72.53 for each share they own. Shares of Atlanta- based Post Properties Inc. jumped more than 12...

  • WASHINGTON, Aug 11- The number of Americans filing for unemployment benefits fell last week, pointing to sustained labor market strength in early August that could help spur faster economic growth. "The data remain consistent with a still-strong trend in employment growth, which means the backdrop for consumer spending remains favorable," said Jim O'Sullivan,...

  • Top Cities to start businesses

    CNBC ranks the emerging hot spots for small businesses based on their tax and regulatory climate, low cost of living and skilled workforce.

  • The international business- spanning Argentina, Brazil, Chile, Ecuador, El Salvador, Guatemala and Peru- accounted for about 5 percent of the company's total operating revenue in the second quarter. The company's international energy business, reported a quarterly loss of $102 million, compared with a profit of $52 million, a year earlier, hurt by an impairment...

  • The company's international energy business, however, reported a loss of $102 million, compared with a year-earlier profit of $52 million. Duke has engaged advisers to sell its assets in Brazil, Argentina and Chile. The net income attributable to the company fell to $509 million, or 74 cents per share, in the second quarter, from $543 million, or 78 cents per share, a...

  • WASHINGTON, Aug 1- U.S. manufacturing activity eased in July amid shrinking order backlogs and declining employment, while an unexpected drop in construction spending in June suggested second-quarter economic was probably even weaker than reported last week. The Institute for Supply Management's report on Monday also showed manufacturers ramping up...

  • WASHINGTON, July 29- U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment weakened further, offsetting robust consumer spending. Gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first...

  • *Second-quarter GDP rises at a 1.2 percent rate. WASHINGTON, July 29- U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment remained weak, offsetting robust consumer spending. Gross domestic product increased at a 1.2 percent annual rate after rising by a...

  • NBA strips Charlotte of 2017 All-Star Game

    CNBC's Dominic Chu reports that the NBA has officially pulled the 2017 All-Star Game from Charlotte, North Carolina due to the state's controversial bathroom law.

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. Bank of America did not previously...

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. Bank of America did not previously...

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. That's $3.3 billion less than the...

  • Net income attributable to BofA's common shareholders fell to $3.87 billion, or 36 cents per share, in the second quarter ended June 30, from $4.80 billion, or 43 cents per share, a year earlier. Excluding special items, the bank earned 37 cents per share, beating the average analyst estimate of 33 cents, according to Thomson Reuters I/B/E/S. But optimism has faded...