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  • SMI, Coca-Cola extend partnership 5 years Sunday, 24 May 2015 | 2:12 PM ET

    CONCORD, N.C.— Speedway Motorsports Inc. and The Coca-Cola Co. have extended their partnership for five more years through 2020.. The announcement came Sunday, hours before the Coca-Cola 600 at Charlotte Motor Speedway. The agreement also includes retaining title sponsorship of Charlotte's Memorial Day weekend event.

  • Cato posts 1Q profit Thursday, 21 May 2015 | 7:18 AM ET

    CHARLOTTE, N.C. _ Cato Corp. on Thursday reported fiscal first-quarter profit of $31.1 million. The Charlotte, North Carolina- based company said it had profit of $1.11 per share. Cato expects full-year earnings to be $2.10 to $2.23 per share.

  • ASHEVILLE, N.C.— Duke Energy said Tuesday it will build a $750 million natural gas plant to replace its troubled coal-fired Asheville plant as the company turns to cleaner energy to generate electricity. The nation's largest electricity company also said it will invest $320 million to build a transmission substation near Campobello, South Carolina,...

  • MONTPELIER, Vt.— FairPoint Communications is cutting about 260 jobs in the 17 states where it operates, including 60 jobs when it closes a South Burlington call center, officials said Friday. FairPoint Communications Inc. is the largest landline telephone network provider in the three states, and last year workers in the three states went on strike for four...

  • Two years before the massive February 2014 spill at a Duke ash dump in Eden coated 70 miles of the Dan River in gray sludge, engineers at the plant twice requested $20,000 from company headquarters to use a robotic camera to inspect aging drainage pipes, including the one that later collapsed, triggering the disaster. Prosecutors said Duke executives denied the...

  • May 8- Shares of Bojangles Inc rose as much as 47 percent in their debut, valuing the chicken-and-biscuits restaurant chain at nearly $1 billion, as investor appetite for "fast-casual" dining chains continues unabated. Bojangles, which operates in the fastest-growing but crowded restaurant segment, serves southern U.S.-inspired food, including buttermilk...

  • May 8- Shares of Bojangles Inc rose as much as 47 percent in their debut, valuing the chicken-and-biscuits restaurant chain at nearly $1 billion as investor appetite for "fast-casual" dining chains continues unabated. Bojangles' rousing debut follows the January listing of cult hamburger chain Shake Shack Inc, whose shares have risen about 44 percent since the...

  • May 7- Chicken-and-biscuits restaurant chain Bojangles' Inc said its initial public offering of common shares was priced at $19, valuing the company at about $680 million.. The fast-casual restaurant chain's IPO raised about $147 million, with the majority of the proceeds going to its controlling shareholder, private equity firm Advent International Corp..

  • WASHINGTON, May 7- The number of Americans filing new claims for unemployment benefits held near a 15- year low last week in a sign that the labor market was strengthening despite moderate economic growth. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday.

  • May 4- XPO Logistics Inc reported a smaller quarterly loss and struck its second deal in a week by agreeing to buy U.S.-based Bridge Terminal Transport for $100 million. XPO, which signed its biggest-ever deal last week by agreeing to buy France- based Norbert Dentressangle SA for $3.5 billion including debt, has become a one-stop shop in transportation...

  • WASHINGTON, May 4- New orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar. The report on Monday from the Commerce Department was the latest indication that the rebound from the first quarter's...

  • WASHINGTON, May 1- U.S. factory activity failed to gain steam in April after slowing for five straight months, but stronger-than-expected vehicle sales suggested the economy was finding some momentum after almost stalling in the first quarter. "The reacceleration in growth will not come fast enough for many, especially those looking for a liftoff by the Fed to...

  • NEW YORK, April 22- Bank of America Corp on Wednesday asked a federal appeals court to toss a $1.27 billion penalty imposed in a mortgage fraud case, and in a rare move asked that the prominent Manhattan judge who oversaw its trial be replaced if the case were to continue. Bank of America spokesman Lawrence Grayson declined to comment. Rakoff imposed the civil...

  • Bank of America settles currency-rigging lawsuit Thursday, 16 Apr 2015 | 12:00 PM ET

    NEW YORK, April 16- Bank of America Corp has settled its portion of a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the foreign exchange market. Bank of America is the third bank to settle investor claims related to the $5.3 trillion- a-day currency market. Scott& Scott said Bank of America's settlement will "mirror" the earlier...

  • *Nonfarm payrolls forecast rising 245,000 in March. WASHINGTON, April 3- U.S. job growth likely remained solid in March, which should allay fears over recent economic weakness and keep the Federal Reserve on course to start raising interest rates this year. The labor market has largely shrugged off a harsh winter, a buoyant dollar, weaker global demand and a...

  • LOS ANGELES, April 1- McDonald's Corp plans to raise the average pay of about 90,000 U.S. workers to around $10 an hour, but the increase will not benefit workers at the vast majority of the restaurants, because they are operated by franchisees, who make their own wage decisions. Wal-Mart Stores Inc and other retailers have introduced entry-level wage hikes in...

  • BOSTON, March 26- Bank of America Corp will not hold a shareholder vote on its decision to reunite the roles of chairman and chief executive officer, according to the bank's proxy statement filed on Thursday. But both also said they would support Bank of America directors this year after the bank separately adopted a rule change to make it easier for shareholders...

  • March 20- A federal judge rejected Bank of America Corp's request to dismiss a lawsuit in which Cook County, Illinois, accused the lender of targeting black and Hispanic borrowers in the Chicago area with subprime mortgages. District Judge Elaine Bucklo in Chicago said Cook County could pursue allegations that the bank steered minority borrowers into an...

  • WASHINGTON, March 19- The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Growth has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas economies and a now-settled labor dispute at West Coast...

  • *Euro dips under $1.09; ECB to start bond buying next week. The euro fell below $1.09 for the first time since September 2003. "We feel the economy is in a position for the Fed to begin normalizing policy," said Sam Bullard, senior economist at Wells Fargo Securities in Charlotte, North Carolina.