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Top News & Analysis North Carolina

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  • BOSTON, Sept 4- Proxy adviser Institutional Shareholder Services on Friday recommended Bank of America shareholders vote to strip Chief Executive Brian Moynihan of his additional title of chairman, joining a chorus of critics ahead of a Sept. 22 shareholder meeting on the matter. The Charlotte, North Carolina- based bank, which named Moynihan chairman in 2014,...

  • NEW YORK— The art collection of celebrated writer and civil rights activist Maya Angelou is heading to auction this month. It's a work by African-American artist Faith Ringgold titled "Maya's Quilt of Life" that was commissioned by Oprah Winfrey for Angelou's 69th birthday in 1989. It depicts Angelou surrounded by flowers along with excerpts from some of her...

  • That would underscore the economy's vibrancy in the face of volatile global financial markets and China's slowing growth, and keep alive the prospect of the Fed raising benchmark overnight rates at its next policy meeting, on Sept. 16-17. "We don't think it will detract from the possibility that the Fed is considering a September rate hike, only if we saw ominous...

  • HAMPTON, N.H., Sept 3- Jeb Bush will lay out a tax plan next week aimed at lowering corporate and personal tax rates and giving the U.S. economy a jolt, the Republican presidential candidate said on Thursday. Companies keep those funds overseas to avoid having it taxed twice, in the country in which they are doing business and again when brought back to the United...

  • Piedmont Natural Gas reports 3Q loss Thursday, 3 Sep 2015 | 8:36 AM ET

    CHARLOTTE, N.C. _ Piedmont Natural Gas Co. on Thursday reported a loss of $8.3 million in its fiscal third quarter. Piedmont Natural Gas expects full-year earnings to be $1.82 to $1.92 per share. Piedmont Natural Gas shares have decreased slightly more than 4 percent since the beginning of the year.

  • Culp posts 1Q profit Wednesday, 2 Sep 2015 | 4:27 PM ET

    HIGH POINT, N.C. _ Culp Inc. on Wednesday reported fiscal first-quarter net income of $4.7 million. On a per-share basis, the High Point, North Carolina- based company said it had net income of 38 cents. Culp shares have risen 41 percent since the beginning of the year.

  • NEW YORK, Sept 2- Oil prices turned higher on Wednesday in volatile trading as rallying equities on Wall Street pulled crude up from lows after futures sank on concerns about global oversupply. "Looks like risk-on trade with a rising tide lifting all boats," John Kilduff, partner at Again Capital LLC in New York, said. Brent October crude was up 14 cents at $49.70 a...

  • NEW YORK, Sept 2- Oil prices fell a second day on Wednesday after government data showing U.S. crude stockpiles rose last week added to concerns about global oversupply and sluggish economic growth in China. Brent October crude was down $1.60 at $47.96 a barrel at 12:19 p.m. EDT, having swung from $47.74 to $50.79. October crude was down $1.95 at $43.46, having...

  • NEW YORK, Sept 2- U.S. crude oil stockpiles rose unexpectedly last week as refinery throughput fell for a fourth week and imports jumped, while gasoline stocks fell, data from the Energy Information Administration showed on Wednesday. October crude was down $1.22 at $44.19 a barrel at 11:05 a.m. EDT, having swung from $43.71 to $46.32. Brent October crude was down...

  • *OPEC says worried about prices, ready to talk to producers. NEW YORK, Aug 31- Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of U.S. crude production data and OPEC's readiness to talk with other producers helped extend the biggest three-day price surge in 25 years. U.S. crude gained $3.98, or 8.8 percent, to...

  • *OPEC says worried about prices, ready to talk to other producers. NEW YORK, Aug 31- Oil prices surged more than 5 percent Monday, continuing a three-day rally that has erased August's price declines, after U.S. oil production data showed output falling and OPEC said it would talk with other producers about low prices. Since November, OPEC countries led by Saudi...

  • The pieces are among millions held by the Illinois State Museum, a favorite stop for school groups and scientists looking to learn the history of a state that, millions of years before it went broke, was literally underwater. Bruce Rauner is targeting the 138- year-old museum and four satellite sites for closure, the latest in a series of cuts the former...

  • Aug 27- The billionaire chief executive of Dole Food Co and his top lieutenant must pay $148.2 million of damages to shareholders they shortchanged when the produce company went private in 2013, a Delaware judge ruled on Thursday. In a decision that may cast a pall on management-led buyouts, Vice Chancellor Travis Laster said Dole Chief Executive David...

  • Bimbo Bakeries recalls bread sold in 11 states Wednesday, 26 Aug 2015 | 6:44 PM ET

    NEW YORK— The maker of Sara Lee, Nature's Harvest and other brands is recalling about 48,000 packages of bread sold in 11 states because they may contain fragments of glass from a broken light bulb at a company factory. The recall covers seven different Sara Lee products, two each sold under the Nature's Harvest and Great Value brands, and one each for the Kroger,...

  • NEW YORK, Aug 26- Oil prices fell almost 2 percent on Wednesday after a huge drawdown in U.S. crude stockpiles was offset by a larger-than-expected build in gasoline and distillates, which include diesel. Gasoline stocks also rose, by 1.7 million barrels versus forecasts for a 1.3 million-barrel drop, the data from the Energy Information Administration showed.

  • NEW YORK, Aug 26- Oil prices were mixed in volatile trading on Wednesday after a huge drawdown in U.S. crude stockpiles was countered by a larger-than-expected build in gasoline and distillates, which include diesel. "The products builds are overwhelming the constructive crude draw," said Scott Shelton, commodities specialist at ICAP in Durham, North Carolina.

  • NEW YORK, Aug 26- U.S. crude oil stockpiles fell sharply last week as imports tumbled, while gasoline and distillate inventories rose despite a reduction in refinery runs, data from the Energy Information Administration showed on Wednesday. U.S. crude fell more than 1 percent to below $39 a barrel, nearing the 6-1/ 2- year lows touched earlier this week, and New York...

  • Novo Nordisk adding diabetes drug output in NC, Denmark Wednesday, 26 Aug 2015 | 10:39 AM ET

    RALEIGH, N.C.— Danish drug maker Novo Nordisk said Wednesday it will open new factories in North Carolina and Denmark as pharmaceutical companies seek to keep up with demand for diabetes medications in an increasingly overweight world. Novo Nordisk plans to invest about $2 billion over the next five years in new production facilities in the Raleigh suburb of...

  • COPENHAGEN, Aug 26- Novo Nordisk said on Wednesday it would begin a Phase III trial of its treatment for diabetes that could be taken orally rather than by injection after "encouraging" results in previous trials. The oral tablet is a part of Novo Nordisk's effort to make treatment less painful for diabetes patients and minimize the use of needles.

  • Albemarle moving corporate headquarters to Charlotte Tuesday, 25 Aug 2015 | 12:53 PM ET

    NEW YORK— Albemarle is moving its corporate headquarters and performance chemicals business from Baton Rouge, Louisiana, to Charlotte, North Carolina. The specialty chemicals company said that it's also moving workers at its refining solutions business in Baton Rouge to an existing office in Clear Lake, Texas. Albemarle Corp. said that about 120 of its...