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Top News & Analysis Charlotte

  • CHARLOTTE, N.C. _ Capital Bank Financial Corp. on Thursday reported second-quarter net income of $23.8 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share. Capital Bank shares have declined almost 2 percent since the beginning of the year.

  • CHICAGO— President Donald Trump's administration has ended Affordable Care Act contracts that brought assistance into libraries, businesses and urban neighborhoods in 18 cities, meaning shoppers on the insurance exchanges will have fewer places to turn for help signing up for coverage. People will have 45 days to shop for 2018 coverage, starting Nov. 1 and...

  • CHARLOTTE, N.C. _ Nucor Corp. on Thursday reported second-quarter earnings of $323 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share. Nucor shares have increased nearly 2 percent since the beginning of the year, while the Standard& Poor's 500 index has risen 10 percent.

  • WASHINGTON, July 18- U.S. import prices fell for a second straight month in June amid further declines in the cost of petroleum products, suggesting inflation could remain benign in the near term. "The focus should be on the dollar," said John Ryding, chief economist at RDQ Economics in New York. The Labor Department said on Tuesday that import prices decreased 0.2...

  • All of our businesses delivered strong results, with several setting new records, "said Chief Executive Officer Brian Moynihan said. The bank's total revenue of $23.07 billion handsomely beat the average analyst estimate of $21.78 billion. Earnings per share came in at 46 cents, topping the estimate of 43 cents.

  • NEW YORK— Consumer banking giant Bank of America reported a 10 percent rise in second-quarter profits on Tuesday as gains from higher interest rates were more than enough to offset a drop in trading revenue. Like its competitors, Bank of America benefited from rising interest rates. Because of its large consumer banking division, Bank of America's fortunes, as...

  • CHARLOTTE, N.C.— The Latest on ACC media days:. But to listen to Mendenhall at the start of Friday's interviews at the ACC media days, he was ready for a rebuild after what he described as "an intentional choice. Virginia went 2-10 in Mendenhall's first season with one ACC win.

  • Thursday's data from the Labor Department underscored labor market buoyancy and suggested that there was enough momentum in the economy to generate some inflation, even though price pressures still remain moderate. Inflation isn't slip-sliding away from the Fed's goal, "said Chris Rupkey, chief economist at MUFG in New York. Initial claims for state...

  • NEW YORK, July 12- The Dow rose to a record high close while U.S. stocks kept their upward momentum Wednesday following Federal Reserve Chair Janet Yellen's congressional testimony to gradually raise interest rates. Yellen's speech was a nod to Wall Street as the Fed signaled it will gradually tighten policy and gradually unwind its massive balance sheet.

  • RALEIGH, N.C.— The nation's largest electric company wants regulators in North Carolina to force consumers to pay nearly $200 million a year to clean up the toxic byproducts of burning coal to generate power. She was responding to a request filed with state utility regulators last month that marks the first time Duke Energy Corp. has sought permission to have...

  • WASHINGTON, July 11- U.S. job openings fell in May from a record high amid a surge in hiring, but an increase in the number of Americans voluntarily quitting their jobs suggested the labor market remained robust. Job openings, a measure of labor demand, decreased 301,000 to a seasonally adjusted 5.7 million, the Labor Department said in its monthly Job Openings and...

  • WASHINGTON, July 7- U.S. employers likely stepped up hiring in June and boosted wages for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year. According to a Reuters survey of economists, the Labor Department's closely watched employment report on Friday will probably show that...

  • July 3- Bankrate, an online publisher of personal finance content, said on Monday it would be acquired by digital marketing company Red Ventures for $1.24 billion. Charlotte, North Carolina- based Red Ventures' investors include Silver Lake Partners and General Atlantic. Simpson Thacher& Bartlett LLP is Red Ventures' legal adviser.

  • June 30- Warren Buffett's company will become the biggest shareholder in Bank of America Corp, after Berkshire Hathaway Inc on Friday invoked its right to acquire 700 million shares of the second-largest U.S. bank. Berkshire will take a roughly 7 percent ownership stake, worth about $17 billion based on Bank of America's closing price of $24.32 on Thursday.

  • June 30- Warren Buffett's Berkshire Hathaway Inc will swap its preferred shares in Bank of America Corp into common shares worth about $17 billion, making it the biggest shareholder of lender. Buffett had bought $5 billion of Bank of America preferred stock with a 6 percent dividend, or $300 million annually, in August 2011, when investors worried about the...

  • June 28- Warren Buffett's Berkshire Hathaway Inc may be on the verge of becoming Bank of America Corp's largest shareholder, after the bank raised its dividend in the wake of a positive assessment of its ability to handle market stresses. Bank of America on Wednesday boosted its annual dividend 60 percent to 48 cents per share from 30 cents, beginning in the third...

  • Bank of America has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank's plan to cut costs.

  • On Wednesday the bank cut jobs across that division, many of which came from its Charlotte, N.C., headquarters, a spokesman said. The cuts come as Bank of America is aiming to cut costs to boost financial targets Chief Executive Brian Moynihan has set. Separately, at a conference on Wednesday, Chief Operating Officer Tom Montag said the global banking and markets...

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "The latest inflation data have undoubtedly helped the case of officials arguing for waiting more...

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "For the Fed, today's reports are a twin disappointment," said Michael Hanson, chief economist at TD...