Top News & Analysis North Carolina

  • 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...

  • RALEIGH, N.C.— The nation's largest electric company is negotiating with North Carolina's environment agency over a $6.6 million fine to punish Duke Energy for a big spill of liquefied coal ash. Attorneys for both sides said delaying Monday's scheduled hearing may help resolve the disputed fine for polluting the Dan River in 2014. Duke Energy Corp. has called...

  • The oldest millennials— nearing 20 when airplanes slammed into New York City's Twin Towers— are old enough to remember the relative economic prosperity of the 1990 s, and when a different Clinton was running for president. As part of its Divided America series, The Associated Press spent time with seven millennial voters in five states where the oldest and...

  • Aug 21- ChemChina's $43 billion acquisition of Syngenta AG is in the final stages of being cleared by the Committee on Foreign Investment in the United States, which scrutinizes deals for national security implications, people familiar with the matter said. Syngenta shares ended trading on Friday at 380.80 Swiss Francs, some 100 Swiss Francs less than what...

  • 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...

  • WASHINGTON— Hiring has been strong in the past year in many presidential campaign swing states, a possible hurdle for GOP candidate Donald Trump, who has sought to capitalize on economic distress. Employers have added jobs in the past 12 months at a faster pace than the national average in Colorado, Florida, Michigan and North Carolina, the Labor Department said...

  • 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...

  • On Wednesday, Lowe's reported disappointing sales growth at existing stores, its second-quarter profit was short of most expectations and the company cut its profit expectations for the year. Comparable store sales at Home Depot rose 4.7 percent overall, and 5.4 percent in the U.S., a discrepancy noted by Citi analyst Kate McShane, who speculated that Lowe's...

  • DURHAM, N.C. _ Cree Inc. on Tuesday reported a loss of $10.6 million in its fiscal fourth quarter. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Three analysts surveyed by Zacks expected $380.7 million.

  • JACKSON, Miss.— The Mississippi secretary of state says investment firm Morgan Stanley will pay up to $4.2 million to partially reimburse customers who suffered "inordinate losses" because a portfolio manager allegedly used high-risk investments for people who hadn't agreed to them. He says 194 accounts were in Mississippi and 25 in Louisiana.

  • Aetna has become the latest health insurer to retreat from the Affordable Care Act's public exchanges by announcing a pullback that will further deplete customer choices in many pockets of the country. The insurer's late Monday announcement comes after UnitedHealth and Humana detailed their own exchange pull backs for 2017 and after more than a dozen...

  • WASHINGTON— The water treatment company Xylem is acquiring smart meter maker Sensus for $1.7 billion in cash as it pushes into emerging markets. Sensus is owned by investment funds affiliated with The Jordan Company and GS Capital Partners 2000. Shares of Xylem Inc. rose more than 3 percent in morning trading, to almost $50 a share.

  • 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...

  • NEW YORK, Aug 15- U.S. water technology company Xylem Inc said on Monday it would buy Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion in cash. Xylem said the purchase price was 10.7 times Sensus's adjusted earnings before interest, taxes, depreciation and amortization in fiscal 2016. Rye Brook, New York- based Xylem...

  • NEW YORK, Aug 15- U.S. water technology company Xylem Inc is nearing a deal to acquire Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion, including debt, according to people familiar with the matter. Buyout firm Jordan Company, in partnership with Goldman Sachs Group Inc's private equity arm, acquired the company for...

  • KITTY HAWK, N.C.— The Obama Administration is inviting companies to bid for the right to build wind energy turbines off North Carolina's Outer Banks. The Interior Department on Friday announced a proposed lease sale for 122,000 acres beginning about 28 miles off Kitty Hawk that includes part of the Outer Continental Shelf. The Bureau of Ocean Energy Management...