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  • NEW YORK— Bank of America asked a federal appeals court Wednesday to toss out a $1.27 billion fine against it, saying the case brought by the federal government after the 2008 financial crisis should never have gone to trial. The bank said in papers filed with the 2nd U.S. Circuit Court of Appeals in Manhattan that the case against it was unfair and "utterly...

  • 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...

  • Hatteras Financial reports 1Q loss Tuesday, 21 Apr 2015 | 4:45 PM ET

    WINSTON-SALEM, N.C. _ Hatteras Financial Corp. on Tuesday reported a first-quarter loss of $34.5 million, after reporting a profit in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share. Hatteras Financial shares have increased roughly 1 percent since the beginning...

  • Cree misses 3Q profit forecasts Tuesday, 21 Apr 2015 | 4:27 PM ET

    DURHAM, N.C. _ Cree Inc. on Tuesday reported fiscal third-quarter net income of $651,000. Six analysts surveyed by Zacks expected $406.7 million. Analysts surveyed by Zacks had expected revenue of $435.1 million.

  • HOUSTON— A massive recall has brought more attention and put more pressure on a century-old Texas ice cream company that has been searching to discover how its products became linked to a deadly string of listeria cases. Texas- based Blue Bell Creameries said Tuesday, a day after recalling all its products, that it is getting closer to pinpointing the cause of the...

  • RALEIGH, N.C.— North Carolina officials are advising dozens of residents near Duke Energy coal ash dumps not to drink or cook with water from their wells after tests showed contamination with toxic heavy metals. A state law passed after last year's massive spill into the Dan River required wells within 1,000 feet of Duke's 32 coal ash dumps across the state to be...

  • Sonic Automotive misses 1Q profit forecasts Tuesday, 21 Apr 2015 | 7:51 AM ET

    CHARLOTTE, N.C. _ Sonic Automotive Inc. on Tuesday reported first-quarter profit of $14 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Sonic Automotive shares have dropped 10 percent since the beginning of the year.

  • *Global nutraceutical market seen at $280 bln by 2018. LONDON, April 21- A boom in "nutraceuticals"- food and drinks with potential health benefits- is paving the way for a rush of deals, as food and drug companies compete to dominate a market expected to be worth $280 billion by 2018.. "The space is ripe for M&A and I think you are going to see more," added Jeremy Johnson,...

  • Blue Bell Creameries issues recall of all products Monday, 20 Apr 2015 | 10:22 PM ET

    BRENHAM, Texas— Texas- based Blue Bell Creameries issued a voluntary recall Monday night for all of its products on the market after two samples of chocolate chip cookie dough ice cream tested positive for listeria, a potentially deadly bacteria. Five others in Kansas and Texas were sickened with listeriosis, which can cause fever, muscle aches,...

  • PETA urges Food Lion to drop ads using live animals Monday, 20 Apr 2015 | 4:54 PM ET

    CHARLOTTE, N.C.— PETA is giving its two cents to Food Lion, urging the supermarket chain to stop using live animals in its advertisements. In a statement on its website, People for the Ethical Treatment of Animals said Food Lion should "create eye-catching ads without resorting to the use of deprived, captive wild animals. Food Lion spokeswoman Christy...

  • Peoples Bancorp of North Carolina posts 1Q profit Monday, 20 Apr 2015 | 9:10 AM ET

    NEWTON, N.C. _ Peoples Bancorp of North Carolina Inc. on Monday reported first-quarter net income of $2.3 million. Peoples Bancorp of North Carolina shares have increased 2 percent since the beginning of the year. Keywords: Peoples Bancorp of North Carolina, Earnings Report.

  • RALEIGH, N.C.— As 800,000 past and present tobacco farmers or their heirs seek part of a $340 million reserve held by a much-shrunken tobacco marketing cooperative, North Carolina's Supreme Court was asked Monday to decide if the group is simply too big and diverse for one class-action lawsuit. The court heard from attorneys about the fight over money built up...

  • *GE, Honeywell blame strong dollar for lower revenue. April 17- U.S. stocks fell on Friday afternoon, putting the S&P 500 on track for its biggest daily percentage loss since March 25, as concerns over regulations in China, Greece's debt negotiations and disappointing earnings weighed on sentiment. Both Honeywell International and General Electric blamed the...

  • Glaxo recalls flu vaccine due to potency problem Friday, 17 Apr 2015 | 1:24 PM ET

    WASHINGTON— GlaxoSmithKline is recalling remaining doses of a popular four-in-one flu vaccine because of effectiveness problems. But Glaxo said in a letter it "cannot rule out potential suboptimal protection" in people who received the vaccine in early January or later. More than 99 percent of the vaccines were distributed in 2014, before the product began...

  • Lorillard beats Street 1Q forecasts Friday, 17 Apr 2015 | 1:24 PM ET

    GREENSBORO, N.C. _ Lorillard Inc. on Friday reported first-quarter earnings of $275 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. Lorillard shares have risen 12 percent since the beginning of the year, while the Standard& Poor's 500 index has climbed 1 percent.

  • WINSTON-SALEM, N.C.— Reynolds American's first-quarter profit climbed, helped by increased cigarette prices. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. Reynolds American said its performance also benefited from higher moist-snuff pricing.

  • 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...

  • "It's important to us to tackle climate change everywhere we are," Lisa Jackson, Apple's vice president for environmental initiatives, told The Associated Press. "When you talk about China, you're talking about manufacturing partners. The new solar project in China has a capacity of 40 megawatts, which is smaller than some projects Apple has announced in the...

  • Square 1 Financial posts 1Q profit Thursday, 16 Apr 2015 | 7:39 AM ET

    DURHAM, N.C. _ Square 1 Financial Inc. on Thursday reported first-quarter net income of $8.2 million. Square 1 Financial shares have risen nearly 8 percent since the beginning of the year. Keywords: Square 1 Financial, Earnings Report.

  • Insteel Industries posts 2Q profit Thursday, 16 Apr 2015 | 6:48 AM ET

    MOUNT AIRY, N.C. _ Insteel Industries Inc. on Thursday reported fiscal second-quarter earnings of $2.5 million. Insteel Industries shares have declined 8.5 percent since the beginning of the year. Keywords: Insteel Industries, Earnings Report.