Business

Costs, lower mortgage revenue weigh down Wells Fargo earnings

Higher personnel costs and legal fees, as well as lower mortgage banking revenue, have kept first-quarter net income at Wells Fargo & Co. broadly flat at $5.5 billion. Profit on a per share basis rose to $1.00 in the latest quarter from 99 cents a year earlier, beating the average analyst estimate of 97 cents. […]

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Charlotte real estate firm has new top leadership, expanded war chest

Darryl Dewberry Steve McClure Steve McClure has been named chief operating officer of the renamed Spectrum Companies as the Charlotte-based firm plans to expand its $1.5 billion real estate portfolio. McClure, 36, is a 13-year veteran of the company, formerly known as Spectrum Properties. Spectrum develops, leases, manages and invests in commercial and multifamily property […]

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Duke Energy to spend $13B on N.C. infrastructure upgrades

Duke Energy Corp. will spend $13 billion over the next ten years to upgrade its power grid in North Carolina. The planned expenditure, dubbed Power/Forward Carolinas, would be in addition to the $1 billion Charlotte-based Duke already spends annually on grid maintenance and upgrades. About 38%, or $4.9 billion of the planned spending would go […]

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Duke University puts off proposed Duke Energy power plant

Duke University has delayed a vote by its trustees on the controversial combined heat-and-power plant that Duke Energy Corp. has proposed building on the campus. Construction on the $55 million plant had been slated to start this summer. In related developments, Clemson University┬ásays it will re-evaluate the site for a planned Duke Energy plant on […]

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