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Top News & Analysis North Carolina

  • Instead, the box office dud has unintentionally played a role in giving new life to efforts to rid Massachusetts of its film industry subsidies. The state Senate has proposed a budget paring back what's considered among the most generous of the 36 states currently offering tax incentives to film companies. David Hartman, head of the Massachusetts Production...

  • WASHINGTON— A key part of House Republicans' plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump's biggest priorities and increasing the chances the GOP will simply pass a tax cut instead of overhauling the tax code. A proposed tax on imports is central to the GOP plan to lower the...

  • WASHINGTON— Employers added a significant number of jobs in nine states last month, and unemployment rates in four states fell to record lows. The Labor Department said Friday that the states with the largest percentage gains in jobs were Alaska, Alabama and Louisiana. Florida added nearly 30,000 jobs last month, the most of any state, followed by New York with...

  • WASHINGTON— The White House lacks a unified plan to increase the government's borrowing cap as a likely September deadline is drawing near, said Mick Mulvaney, director of the Office of Management and Budget. A failure by Congress to raise the debt ceiling could send dangerous shockwaves through the global economy. The White House budget director suggested in...

  • NEW YORK— Bank of America is cutting an unspecified number of positions in the Charlotte, North Carolina, area. A spokesman for the bank said Thursday that the jobs being cut are coming from Bank of America's technology and operations unit and that all the employees affected are being offered an opportunity to apply for other open positions.

  • Bank of America has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank's plan to cut costs.

  • On Wednesday the bank cut jobs across that division, many of which came from its Charlotte, N.C., headquarters, a spokesman said. The cuts come as Bank of America is aiming to cut costs to boost financial targets Chief Executive Brian Moynihan has set. Separately, at a conference on Wednesday, Chief Operating Officer Tom Montag said the global banking and markets...

  • WASHINGTON— Credit card holders will soon pay more. A series of Fed hikes generally means that overseas investors in search of interest income can increase their returns by shifting money into the United States. The most immediate effects, though, are generally on borrowers in the United States.

  • JONESBORO, Ark.— A group of Arkansas farmers have filed a class-action lawsuit against the makers of the herbicide dicamba that they blame for damaging their crops. The lawsuit was filed Wednesday in federal court in Jonesboro, Arkansas, against Monsanto Co. and BASF Corp. In a statement, plaintiffs' attorney Phillip Duncan says his clients seek unspecified...

  • MORRISVILLE, N.C. _ Alliance One International Inc. on Wednesday reported a fiscal fourth-quarter loss of $309,000, after reporting a profit in the same period a year earlier. On a per-share basis, the Morrisville, North Carolina- based company said it had a loss of 3 cents. Alliance One shares have declined 35 percent since the beginning of the year.

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "The latest inflation data have undoubtedly helped the case of officials arguing for waiting more...

  • WASHINGTON— Credit card holders will soon pay more. A series of Fed hikes generally means that overseas investors in search of interest income can increase their returns by shifting money into the United States. The most immediate effects, though, are generally on borrowers in the United States.

  • RALEIGH, N.C.— Dozens of insurance companies say they're not obligated to help pay for Duke Energy Corp.' s multi-billion dollar coal ash cleanup because the nation's largest electric company long knew about but did nothing to reduce the threat of potentially toxic pollutants. The claim is in a filing by lawyers for nearly 30 international and domestic...

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "For the Fed, today's reports are a twin disappointment," said Michael Hanson, chief economist at TD...

  • LONDON, June 14- When Aaron Blair sat down to chair a week-long meeting of 17 specialists at the International Agency for Research on Cancer in France in March 2015, there was something he wasn't telling them. The epidemiologist from the U.S. National Cancer Institute had seen important unpublished scientific data relating directly to a key question the IARC...

  • HIGH POINT, N.C. _ Culp Inc. on Tuesday reported fiscal fourth-quarter profit of $6.2 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share. Three analysts surveyed by Zacks expected $76.3 million.

  • The president's criticism, at a White House lunch with 15 GOP senators, also came as Senate Republican leaders' attempts to write their own health care package have been slowed by disagreements between their party's conservatives and moderates. Facing expected unanimous Democratic opposition, Republicans will be unable to pass a Senate bill if just three of...

  • June 8- AvidXchange, a software company that helps mid-sized companies automate their invoicing and bill payments, said on Thursday it raised $300 million from investors including Mastercard, Silicon valley investor Peter Thiel and Canada's second largest public pension fund. Temasek Holdings Pte Ltd, a Singapore state investor, also contributed to the...

  • WASHINGTON/ NEW YORK, June 5- A federal judge in Illinois on Monday ordered Dish Network Corp to pay $280 million in penalties to the U.S. government and four states in an eight-year-old "robocall" telemarketing lawsuit. District Judge Sue Myerscough required Dish to pay $168 million to the U.S. government and $112 million to North Carolina, California, Ohio and...

  • WASHINGTON/ NEW YORK, June 5- A federal judge in Illinois ordered Dish Network Corp to pay $280 million in penalties to the U.S. government and four states in an eight-year-old "robocall" telemarketing lawsuit. District Judge Sue Myerscough required Dish to pay $168 million to the U.S. government and $112 million to North Carolina, California, Ohio and Illinois...