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Business

Progress CEO out, gets up to $10.3M after merger

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The Progress Energy chief executive whose sudden departure was announced hours after the merger creating America's largest electric utility is getting a big payout. Full story...
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Cold War: Frozen yogurt creates hot market in Wilmington

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video Do you like to stop for sweet treats on these hot summer days? If so, it seems like you're not alone. There are about a dozen frozen yogurt shops in the Wilmington area, and the growth shows no signs of stopping. Full story...
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Loss of surf tourney wipes out big bucks for Wrightsville Beach

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video Wrightsville beach's biggest surf competition will not happen this summer. The Reef Sweetwater Pro-Am was the second biggest surf competition on the entire east coast. Now the event that packs local hotels and stores each July is gone. Full story...
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Downtown staple Caffe Phoenix closing doors July 31

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video A staple of downtown Wilmington is closing its doors. After more than two decades, Caffe Phoenix will serve its last meal July 31. Full story...
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Ralph Lauren adding 500 jobs in High Point

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Ralph Lauren Corp. will create 500 more jobs over the next five years and invest $97 million in High Point, where the company already has several operations. Full story...
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Bacon sundae tops off Burger King's summer menu

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Burger King wants to lure customers this summer with a barbecue party - and a bacon sundae. Full story...
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NC to review proposed Duke-Progress merger

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North Carolina officials expect to lay out a schedule for their consideration of Duke Energy's proposed takeover of Progress Energy. Full story...
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Waccamaw Bank acquired by First Community Bank

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Waccamaw Bank is no more. First Community Bank, of Bluefield, VA, is taking over the business. Full story...
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Novant Health eliminating nearly 300 jobs

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Novant Health is laying off nearly 300 workers. The Winston-Salem company said Tuesday it will eliminate 289 management and staff positions. Full story...
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PPD Names David Simmons Chairman and CEO

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Pharmaceutical Product Development, LLC (PPD) today announced that its board of directors has named David Simmons chairman and CEO. Full story...
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NC business chamber shares wishes with lawmakers

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North Carolina legislators are meeting with hundreds of members of the state's business community at an annual event where corporate wish lists are made known. Full story...
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Jordan adds Novant hospitals to endorsement list

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Michael Jordan is perhaps the world's best known pitchman. Now a North Carolina hospital group is joining the likes of Nike and Hanes in having Wilmington's hoops legend promote them. Full story...
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Trader Joe's starts work on Wilmington store

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It's official: Trader Joe's is coming to Wilmington. Full story...
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Duke, Progress won't pass on severance costs

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Progress Energy and Duke Energy have agreed not to ask customers to pay millions of dollars in severance costs of employees who could be laid off as part of their merger. Full story...
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Whole Foods set to open, as upscale grocery trend continues in Wilmington

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Upscale grocery stores have begun popping up across the Port City. The newest is the Whole Foods on Oleander Drive, which is scheduled to open later this month. Representatives from their competition say they welcome the challenge. Full story...
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