Business

N.C. Utilities Commission Public Staff wants to slash Duke rate hike

A proposal by the North Carolina Utilities Commission Public Staff would dramatically cut Duke Energy Progress’ proposed 14 percent rate hike. The Public Staff proposes an increase of less than one-tenth of 1 percent. Under Duke’s proposed increase, an average residential customer’s bill would increase by about $16 from its current $104.68. The Public Staff […]

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Cities inundate Amazon.com with HQ2 proposals

Charlotte, the Triangle and Triad all made plays to land Amazon.com’s second headquarters. But the competition between North Carolina’s three largest metropolitan areas pales compared to the national picture. The company received 238 proposals by the end of last week. Amazon.com’s $5 billion project could bring 50,000 jobs to whichever city the company chooses.

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Triangle rents would soar if region gets Amazon HQ2

The Triangle will face steep rent hikes if Amazon.com chooses the region for its second headquarters. An analysis by Apartment List shows rents would grow more in Raleigh-Durham than other cities. Relatively low median wages and a smaller population than other contenders would contribute to the increase.

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BB&T estimates $2.5 billion

BB&T estimates it would experience a $2.5 billion revenue loss in a severe, 2 1/2-year U.S. economic downturn lasting through Sept. 30, 2019. The bank made the estimate after a twice-yearly stress test required under Dodd-Frank financial regulations implemented after the Great Recession. BB&T is one of 31 bank holding companies required to perform stress […]

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