Business

ChannelAdvisor slammed as co-founder departs

It was a rough week for Morrisville-based e-commerce company ChannelAdvisor, with slightly weaker sales than expected in the fourth quarter and the resignation of co-founder Aris Buinevicius, chief technology officer since 2001. The news was much better at Wilmington’s Live Oak Bancshares, which is now trading well above its 2015 IPO price. These were the […]

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N.C. budget surplus estimated at $552M

North Carolina expects to collect $552.5 million more in revenue than what is needed to carry out the state’s $22.3 billion budget for the fiscal year ending June 30. The surplus is largely attributed to higher-than-expected wage growth, which has boosted personal income and sales taxes. The anticipated surplus could help the Republican-controlled legislature and Democratic Gov. Roy Cooper get more […]

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Cree sale of Wolfspeed unit hits regulatory roadblock

Durham-based Cree Inc.’s plan to sell its Wolfspeed subsidiary to German semiconductor manufacturer Infineon Technologies has hit a roadblock. The companies say U.S. regulators are concerned about the potential transfer of sensitive technology and view the proposed $850 million deal, under its current form, as a risk to U.S. security. The companies are looking at alternatives to […]

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Top Wells Fargo execs may lose bonuses over sales scandal

The board at Wells Fargo is likely to scrap bonuses for top executives, part of the fallout from the bank’s sales-practice scandal. According to a report from The Wall Street Journal, the board met late last month to discuss the matter and is expected to finalize its decision in the coming weeks. Wells Fargo, which has major operations […]

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