Business

Lowe's swung to a loss in its fourth quarter, weighed down by sizeable one-time charges and a lethargic housing market.

Bank of America is simplifying branding for its wealth management and private banking operations by retiring two brands it inherited in the late 2000s: Merrill Lynch and US Trust. But it's keeping the Merrill Lynch bull. 

Wells Fargo has agreed to a $575 million settlement with 50 states in a lawsuit alleging unfair and deceptive trade practices.

The City of Charlotte and Mecklenburg County were prepared to offer Amazon a total of $270.6 million in the bid for the company’s second headquarters, according to reporting by the Charlotte Observer.

A California court approved a $480 million settlement with Wells Fargo and its shareholders related to sham accounts the bank admitted to creating. A judge gave the final approval Tuesday for shareholders who claim they were misled by disclosures Wells Fargo made about the accounts.  

Honeywell International will get state incentives of up to $42.5 million over 12 years in exchange for moving its headquarters from New Jersey to Charlotte next year.

Australian plastics manufacturer Era Polymer Corporation plans to open its first U.S. industrial facility in Gaston County, creating 20 new jobs in the area and promising to invest $9.2 million in the town of Stanley.

Bank of America is tweaking its red-and-blue flag logo for the first time since 1998, and is planning a new star-studded marketing campaign for the holiday season. 

Hickory-based CommScope is about to more than double in size. The telecommunications equipment company says it's buying cable set-top box maker Arris for $7.4 billion in cash. The deal includes repaying Arris's debt and is being financed in part with $1 billion from investment firm The Carlyle Group. 

Bank of America's third-quarter profits rose 32 percent from a year ago, to a record $7.2 billion. That came out to 66 cents a share, which beat the 62 cents predicted by Wall Street analysts. Higher interest rates boosted loan income while the big cut in the corporate tax rate helped cut costs.    

Wells Fargo said Thursday that it plans to cut its workforce by 5 to 10 percent over the next three years.

Harris Teeter will phase out single-use plastic bags by 2025, along with other grocery stores owned by its parent company, The Kroger Co. of Cincinnati.  

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.