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  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...

  • Extended Stay America reports 4Q loss Thursday, 26 Feb 2015 | 8:15 AM ET

    CHARLOTTE, N.C. _ Extended Stay America Inc. on Thursday reported a loss of $58.3 million in its fourth quarter. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share. Extended Stay America shares have risen 6 percent since the beginning of the year.

  • Campus Crest reports 4Q results Thursday, 26 Feb 2015 | 6:51 AM ET

    CHARLOTTE, N.C. _ Campus Crest Communities Inc. on Thursday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in Charlotte, North Carolina, said it had funds from operations of $3.1 million, or 5 cents per share, in the period. The company said it had a loss of $34.8 million, or 53 cents per share.

  • Babcock & Wilcox reports 4Q loss Wednesday, 25 Feb 2015 | 7:33 PM ET

    CHARLOTTE, N.C. _ Babcock& Wilcox Co. on Wednesday reported a fourth-quarter loss of $103.3 million, after reporting a profit in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share. Babcock& Wilcox shares have dropped nearly 1 percent since the beginning of the year.

  • Tree.com posts 4Q profit Wednesday, 25 Feb 2015 | 9:42 AM ET

    CHARLOTTE, N.C. _ Tree.com Inc. on Wednesday reported fourth-quarter net income of $15.6 million, after reporting a loss in the same period a year earlier. The Charlotte, North Carolina- based company said it had net income of $1.30 per share. For the year, the company reported profit of $9.4 million, or 84 cents per share.

  • Sonic Automotive beats 4Q profit forecasts Tuesday, 24 Feb 2015 | 11:58 AM ET

    CHARLOTTE, N.C. _ Sonic Automotive Inc. on Tuesday reported fourth-quarter profit of $26.1 million. Sonic Automotive expects full-year earnings in the range of $2.01 to $2.11 per share. Sonic Automotive shares have decreased 4 percent since the beginning of the year.

  • Asahi Kasei to spend $2.2B on Polypore Intl business Monday, 23 Feb 2015 | 8:38 AM ET

    Japan's Asahi Kasei Corp. will pay $2.2 billion to buy the energy storage business of Polypore International after Polypore sells a separate segment of its operation to 3 M Co. for $1 billion. Polypore International Inc., which is based in Charlotte, North Carolina, and Asahi Kasei said Monday that the combination of their lithium-ion battery separator...

  • RALEIGH, N.C.— Federal prosecutors filed multiple criminal charges against Duke Energy on Friday over years of illegal pollution leaking from coal ash dumps at five North Carolina power plants. The prosecutors say the nation's largest electricity company engaged in unlawful dumping at coal-fired power plants in Eden, Moncure, Asheville, Goldsboro and Mt....

  • EnPro misses 4Q profit forecasts Friday, 20 Feb 2015 | 5:12 AM ET

    CHARLOTTE, N.C. _ EnPro Industries Inc. on Friday reported fourth-quarter profit of $3.8 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share. Analysts expected $296.2 million, according to Zacks.

  • Unions begin 3 days of voting on FairPoint contract Friday, 20 Feb 2015 | 1:57 AM ET

    PORTLAND, Maine— Just a day after the announcement of a tentative agreement, more than 1,700 striking FairPoint Communications workers begin three days of briefings and ratification votes in Maine, New Hampshire and Vermont. The company, northern New England' s primary landline provider, and unions declined to discuss details of the tentative agreement until...

  • PORTLAND, Maine— Northern New England's primary landline provider, FairPoint Communications, and two unions representing more than 1,700 workers have reached a tentative agreement to end a four-month strike, officials announced Thursday. FairPoint workers in Maine, New Hampshire and Vermont went on strike in October. Mike Spillane, a business manager for...

  • Curtiss-Wright misses Street 4Q forecasts Thursday, 19 Feb 2015 | 5:03 AM ET

    CHARLOTTE, N.C. _ Curtiss-Wright Corp. on Thursday reported fourth-quarter net income of $16.8 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1 per share. Curtiss-Wright expects full-year earnings to be $3.80 to $3.90 per share, with revenue in the range of $2.28 billion to $2.33 billion.

  • SEC Filing: Duke says it expects to settle criminal probe Wednesday, 18 Feb 2015 | 9:38 AM ET

    RALEIGH, N.C.— Duke Energy said Wednesday it expects to pay $100 million to settle an ongoing federal criminal investigation that began after a massive coal ash spill at a North Carolina plant. The details are contained in an earnings report filed with the Securities and Exchange Commission. The U.S. attorney's office in Raleigh began the investigation after a...

  • Duke Energy misses Street 4Q forecasts Wednesday, 18 Feb 2015 | 9:24 AM ET

    CHARLOTTE, N.C.— Duke Energy reported an 86 percent drop in its fourth-quarter net income, mainly due to a drought in Brazil that hurt its international energy business. Duke Energy said it booked a charge of about $100 million to cover the costs from the possible settlement. The company reported net income of $97 million, or 14 cents per share, in the three months...

  • YOUR MONEY-Is organic chocolate worth the price? Wednesday, 11 Feb 2015 | 3:40 PM ET

    Feb 11- If you plunk down some big bucks for organic chocolate this Valentine's Day, your sweetie may or may not be impressed. Andy Ciordia, owner of The Secret Chocolatier in Charlotte, North Carolina, says consumers are most likely to notice that mass-produced chocolates using a cacao solution taste flatter than those made on a smaller scale and with natural...

  • NEW YORK, Feb 10- The U.S. Department of Justice said on Tuesday that it reached a settlement in its first-ever discrimination case against auto dealers who also finance the purchase of used cars. Two so-called "buy here, pay here" dealerships in Charlotte, North Carolina, Auto Fare Inc and Southeastern Auto Corp, agreed to set aside $225,000 to reimburse...

  • NEW YORK, Feb 3- A federal judge on Tuesday rejected Bank of America Corp's bid to throw out a jury verdict finding it liable for the sale of questionable loans to Fannie Mae and Freddie Mac before the financial crisis, which led to a $1.27 billion civil penalty. He also rejected Bank of America's alternative request for a new trial. The U.S. Department of Justice had...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year. "The committee, in fact, was downright bullish on current economic conditions and the outlook," said Paul Edelstein, director of financial...

  • NEW YORK, Jan 28- Wall Street stocks edged lower on Wednesday while the dollar rose as the Federal Reserve said growth in the U.S. economy was on track despite turmoil in other markets around the world, keeping it on pace to raise interest rates later this year. Concluding their first policy-setting meeting of the year, Fed officials looked past moves made by other...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year. The U.S. central bank repeated it would be "patient" in deciding when to raise benchmark borrowing costs from zero, where they have been...