Triangle Area Business News

After a year of economic crisis and an even longer slump, the nation's retailers are facing a consumer who's more reluctant to buy than ever before in modern times. All signs point to a new era of frugality.

Joining GlaxoSmithKline boosted Deirdre Connelly's power ranking.

Verizon Communications will cut an unspecified number of jobs to offset its shrinking home-phone business and the weak economy, Chief Financial Officer John Killian said Thursday.

The Chinese PC maker, which has a world headquarters in Morrisville, is having its first Triangle warehouse sale from 8 a.m. to 3 p.m. Saturday.

After more than 27 years in one spot, Ralph Townes moved his draperies and design business to a new spot at 713 Person St. in Raleigh.

Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and a spike in oil raised hopes for the economy. Falling interest rates on Treasury securities also fed demand for stocks.

Despite the economic downturn, state and local officials are stepping up efforts to lure tourists and business travelers.

Deirdre Connelly, who became head of GSK's North American pharmaceutical business in February, is No. 37 on Fortune Magazine's latest list of the 50 Most Powerful Women in business.

General Motors Co. said Thursday that a consortium of Canada's Magna International Inc. and Russian lender Sberbank would acquire a majority stake in its European subsidiary Adam Opel GmbH.

The number of U.S. households threatened with losing their homes held steady last month, a sign that lenders' efforts to help distressed borrowers may be having a gradual impact.

The U.S. trade deficit shot up in July to the highest level in six months as a surge in shipments of foreign oil and autos pushed imports up by a record amount.

Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and an upbeat forecast from Procter & Gamble raised hopes for the economy. Falling interest rates on Treasury securities also fed demand for stocks.

Business executives in North Carolina cities are hearing how American companies can improve the country's standing and reputation in the world.

Homeowners will get a little more breathing room before a possible foreclosure under a bill signed into law by Gov. Beverly Perdue on Wednesday.

Three North Carolina employers have been named as good places to work if you're 50 or older.

Federal experts recommend that GlaxoSmithKline's Cervarix be approved to prevent the virus that causes most cervical cancers.

The Obama administration's $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly one in five eligible homeowners have been offered help so far.

A Durham industry group formed to protect open-source Linux software from patent lawsuits recently acquired 22 patents formerly owned by Microsoft.

The new president of RBC Bank isn't knocking his former employer, but he's not averse to knocking off its crown.

The stock market extended its gains to a fourth day as the Federal Reserve said the economy was stabilizing.