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The Charlotte Hornets draft picks meet fans (PHOTOS)
Former college basketball players Malik Monk, of the University of Kentucky, and Dwayne Bacon, of Florida State University, were drafted by the Charlotte Hornets Thursday night. Monk and Bacon met with basketball fans Friday at 7th St. Public Market to take pictures and sign souvenirs. Both players said during the press conference that they are excited to be with the Hornets and are ready to get on the court. Steve Clifford, head coach of Charlotte's NBA team, said that Monk and Bacon will help…

Charlotte transit expansion heads for next phase
The Charlotte Area Transit System wants to hire consultant WSP/Parsons Brinckerhoff to lead a $3.2 million study of rail expansion and determine how to connect those new lines uptown. City Council will vote on the proposed contract Monday. Four firms submitted bids for the transit consulting job after the city sought proposals in March. A nine-member committee including representatives from local government in the Charlotte region and CATS made the recommendation. Other firms vying for the contract…

Flick picks: Sofia Coppola’s ‘The Beguiled’ explores female solidarity
In "The Beguiled," set at the Miss Martha Farnsworth Seminary for Young Ladies, eponymous headmistress (Nicole Kidman), teacher Edwina (Kirsten Dunst) and their five students go about their days as if the Civil War weren’t raging on the horizon — or at least preparing for its conclusion. They sew. They garden. They play music. They practice French conjugation. They pray. In their faded pastels, Martha and her charges are literal lights against the dark backdrop of war, which booms and sends…

615 South College lands another new tenant
Eric Mower + Associates is taking 10,175 square feet on the third floor of 615 South College, the newly opened office tower near the intersection of College and Stonewall streets in uptown.

Speaker's comments fuel rumors of thousands of Foxconn jobs in North Carolina
House Speaker Tim Moore (R-Cleveland) says a major economic development project – unlike anything the state has seen in recent years – could be targeting North Carolina. At the same time, there are reports suggesting North Carolina is on the short list for a major Apple products supplier: Taiwanese electronics manufacturer Foxconn Technology Group. In floor comments Thursday, Moore said the unnamed project could employ 8,600 people at a single facility. Moore couldn’t be reached to elaborate,…

New $46M waterpark opens at the Outer Banks
Visitors to North Carolina’s Outer Banks this summer will have another big option for entertainment. The $46 million H2OBX waterpark at Powells Point opened Thursday. The 20-acre waterpark features more than 20 slides, a 450,000-gallon wave pool, a quarter-mile “adventure river,” cabanas for rent, four activity pools with ropes, restaurants and other attractions. The tallest slide, the Paradise Plunge, has a nine-story free fall. Park owners have control of about 90 acres on the island, so…

American Airlines CEO ‘bewildered’ by Qatar Airways’ purchase attempt
Confused, bewildered, puzzled, concerned. Those were some of the words Fort Worth-based American Airlines Chairman and CEO Doug Parker used in various forums to describe how he views Qatar Airways’ proposal to buy up to 10% of the airline he runs. The union representing flight attendants at the world’s largest airline weren’t much kinder, with Bob Ross, president of the Association of Professional Flight Attendants, saying, “they're coming after our routes, which means the jobs of our members…

'Project Jerky,' an international snack food maker taps N.C. for first U.S. p...
An international snack foods company has tapped eastern North Carolina for a 60-job production plant. South African firm Stormberg Foods, which produces meat protein snacks, plans to invest nearly $2.5 million into what will be its first U.S. production facility. Dubbed "Project Jerky" by economic developers, Stormberg Foods tapped North Carolina over Virginia and South Carolina, says David Rhoades, spokesman for the North Carolina Department of Commerce. Crystal Gettys, president of the Wayne…

Harrisburg shopping center adds smoothies, dental practice and more
Harris Square shopping center in Harrisburg is quickly filling with the addition of four new tenants. Charlotte-based Lat Purser & Associates is developing Harris Square, a 67,200-square-foot shopping center at the intersection of N.C. Highway 49 and Harrisburg Veterans Road. It’s located across from the Harrisburg Town Center. A grand opening for the Publix Super Markets-anchored center is expected in early 2018. The newest tenants include Smoothie King, Sports Clips, Avalon Spa & Nails and…

EXCLUSIVE: More details emerge about business community’s efforts to position...
The Charlotte Business Journal has learned more about the private sector’s plans to build a nonprofit entity known as the Carolina Fintech Hub.

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The Charlotte Observer newspaper and in Charlotte, NC bring you Business news stories and articles.

National marketing firm relocating to new uptown Charlotte office
Eric Mower + Associates, a marketing firm based in Syracuse, N.Y., is relocating its Charlotte office to the new 615 South College office tower developed by Portman Holdings. EMA’s new … Click to Continue »

Novant Health Presbyterian receives advanced stroke center certification
Novant Health Presbyterian Medical Center said it has been named a comprehensive stroke center, becoming the first hospital in the Charlotte area to earn the designation. The not-for-profit Joint Commission, … Click to Continue »

Packard Place owners facing new lawsuit tied to former marketing firm
In the latest twist in a long-running legal feud, a bankruptcy trustee has filed suit against Charlotte entrepreneurs Dan and Sara Roselli, owners of the Packard Place startup hub, over … Click to Continue »

Looking to buy an office building? This one is for sale uptown
The owners of an uptown office building are seeking buyers, according to an announcement from a Charlotte real estate brokerage. Located at South Tryon and Fourth streets, 200 South Tryon … Click to Continue »

Beer in NC is cheaper than in 46 other U.S. states
Turns out, not all U.S. states are created equal when it comes to the price of a pack of beer. The average price of a 24-pack of domestic beer in … Click to Continue »

Bank of America, Wells Fargo could weather another downturn, Fed says
Bank of America, Wells Fargo and the nation’s other biggest banks have enough capital on hand to weather another severe recession, the Federal Reserve said Thursday in releasing its latest … Click to Continue »

Four tenants, including Smoothie King, sign leases at new Harrisburg shopping...
Four new tenants signed leases at Harris Square, a 67,200-square- foot shopping center in Harrisburg that will be anchored by Publix Super Markets. ▪ New Orleans-based Smoothie King has leased a … Click to Continue »

Koch chief says health care bill insufficiently conservative
Chief lieutenants in the Koch brothers' political network lashed out at the Senate Republican health care bill on Saturday as not conservative enough, becoming a powerful outside critic as GOP … Click to Continue »

UK finds 34 high-rise apartment buildings with unsafe siding
Britain's fire-safety crisis expanded substantially Saturday as authorities said 34 high-rise apartment blocks across the country had cladding that failed fire safety tests. London officials scrambled to evacuate four public … Click to Continue »

CIA chief: Intel leaks on the rise, cites leaker 'worship'
CIA Director Mike Pompeo says he thinks disclosure of America's secret intelligence is on the rise, fueled partly by the "worship" of leakers like Edward Snowden. "In some ways, I … Click to Continue »

Casey: GOP health bill would mean 'destructive' cuts
Pennsylvania's Democratic Sen. Bob Casey told a town hall crowd that the Republican health care proposal in the U.S. Senate would mean "destructive" cuts to Medicaid and "obscene" tax cuts … Click to Continue »

South Sioux City makes plans for natural gas power plant
Officials in northeastern Nebraska's South Sioux City expect a proposed five-megawatt natural gas power plant to be operating as early as the end of next year. The project would be … Click to Continue »

Developer of Sioux City building files for bankruptcy
A California-based developer of a 12-story historic art deco building in downtown Sioux City has filed for bankruptcy protection, indefinitely delaying an effort by an eastern Iowa bank to foreclose … Click to Continue »

The Latest: Suspect arrested from stolen SUV at Vegas casino
The Latest on the barricade situation on the Las Vegas Strip (all times local): 3:30 p.m. Las Vegas police say they have arrested the suspect who barricaded himself for about … Click to Continue »

The Latest: Koch rep says bill insufficiently conservative
The Latest on the Koch brothers' weekend conference (all times local): 4 p.m. Chief lieutenants in the Koch brothers' political network are condemning the Senate Republican health care bill as … Click to Continue »

Louisiana man gets 1 year, 1 day for wire-fraud scheme
A Louisiana man has been sentenced to one year and a day in prison for diverting money solicited from property investors to his personal use. Acting U.S. Attorney Duane A. … Click to Continue »