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Fraud allegations expand against Babcock & Wilcox

An amended shareholder complaint against Charlotte-based Babcock & Wilcox Enterprises expands allegations that company executives misled investors about impending losses on major projects. The new complaint accuses CEO Jim Ferland and CFO Jenny Apker of hiding severe problems in B&W’s waste-to-energy projects while the company racked up almost $260 million in losses. B&W’s stock has lost […]

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RDU offered $6.6 million for land to expand Umstead Park

RALEIGH, N.C. (WNCN) —  The Conservation Fund has put a $6.6 million offer on the table for a piece of land currently owned by Raleigh-Durham International Airport. It’s land that many people use for recreational activities. The land is owned by the airport, but most just think it’s part of Umstead Park. With this offer, […]

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Claremont manufacturer to expand, add 72 jobs

Upholstered furniture manufacturing company Sutter Street Manufacturing plans to invest $1.9 million in its Catawba County operations, a move that will create 72 jobs. The company, a division of Williams-Sonoma Inc., currently has 583 employees at its Claremont operations. Sutter Street is eligible for a $300,000 grant from the One North Carolina Fund to assist […]

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IKEA to expand into Cary

Sweden-based furniture retailer IKEA will expand into the Triangle with a store slated to be built on a 15-acre portion of the Cary Towne Center by the summer of 2020. It will be the second N.C. location for IKEA, which opened a Charlotte outlet in 2009.  The company’s plans for the 359,000-square-foot store and two-level parking deck […]

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