Business

Business news from Charlotte and the Carolinas.

Rendering of Corning Inc.'s planned $60 million optical cable plant at Trivium Corporate Center in southeast Hickory.
Catawba County EDC

Corning Inc. has signed up to be the first tenant in a new business park being built in southeast Hickory. The company and local officials announced plans Tuesday for a $60 million plant to make cable for its Optical Communications division, creating up to 110 jobs.

The Conversation: What Is A Tariff? An Economist Explains

Jun 22, 2018
shipping containers
Pixabay CC00

The world is lurching ever closer to a full-blown trade war as the U.S., Europe, Canada, China and Mexico talk tariffs and retaliation. President Donald Trump made the initial salvo back in March, when he placed duties on steel and aluminum. These actions have prompted significant concern and discussion about the wisdom of this action.

North Carolina Attorney General Josh Stein, along with 42 other state attorneys general, announced a $100 million settlement with Citibank over fraudulent conduct concerning interest rates.

Grocery store chain Kroger plans to close all 14 of its stores in the Raleigh-Durham on August 14th and lay off around 1,500 workers.

AT&T and Time Warner are not competitors; their proposed merger would be a "vertical integration" of complementary companies.
STEPHANIE KEITH / Reuters

Updated at 6:02 p.m. ET

A federal judge on Tuesday gave his blessing to telecom giant AT&T's drive to take over the Time Warner media conglomerate. U.S. District Court Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful and that the $85 billion deal would harm competition and hurt consumers.

Wells Fargo sign at a bank branch
Flickr / Mike Mozart

Wells Fargo is being fined a combined $1 billion by two federal regulators for abuses tied to its mortgage and auto lending businesses.

Wells Fargo sign at a bank branch
Flickr / Mike Mozart

It could be several weeks before Wells Fargo and its investors know the final cost of settling federal regulatory investigations into allegations that it overcharged borrowers. Last week, the bank, with its east coast headquarters in Charlotte, acknowledged it could be as much as $1 billion. 

Student Lyndell Grant (right) works with A+/Helpdesk Support instructor Brandon Steel at the Goodwill Opportunity Campus on Wilkinson Boulevard in a free eight-week training course. A grant from Google is helping to pay for the classes.
Goodwill Industries of the Southern Piedmont

Charlotte's Goodwill Industries is expanding its free technology training program, called Goodwill University, thanks to a $300,000 grant from Google. The organization now will begin offering training in key certifications for information technology careers. 

bank of america sign
MoneyBlogNewz / Flickr / https://www.flickr.com/creativecommons/by-2.0/

Bank of America will no longer lend money to gun manufacturers that make military-inspired firearms for civilian use.

North Carolina's farmers are nervous. As an all-out trade war with China looms on the horizon, it's North Carolina's agriculture industry that could bear the brunt.

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