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Raleigh Triangle Local and Business News

  • Triangle Restaurant News: Rye Bar and Southern Kitchen opens in downtown Raleigh

    Rye Bar & Southern KitchenThe new restaurant serves upscale Southern cuisine with some items made using local craft beer.

  • Penn St. gets wins restored, Paterno again winningest coach

    Penn State Abuse FootballPenn State’s football team is getting back 112 wins wiped out during the Jerry Sandusky child molestation scandal and the late Joe Paterno has been restored as the winningest coach in major college football history.

  • Salix's HQ building in Raleigh sells for $27 million

    The developer and owner of the five-story Colonnade II office building on Six Forks Road in north Raleigh that is fully occupied by Salix Pharmaceuticals (Nasdaq: SLXP) has been sold to a new investor for $27.45 million.

    The seller of the property was Cornerstone Real Estate Advisors of Connecticut, which had helped finance the construction of the 127,000-square-foot building in 2008. The buyer was a real estate fund represented by Allegiancy of Richmond, Va., according to county deed records.


  • Duke Energy's N.C. returns still higher than regulators allow

    Duke Energy’s two Carolinas utilities continue to make higher rates of return than allowed by N.C. regulators, according to new figures that track returns through the third quarter of 2014.

    It is the second consecutive quarter in which the returns at the Duke (NYSE:DUK) utilities exceeded regulatory targets, according to figures compiled by the Public Staff of the N.C. Utilities Commission. But the returns are dropping closer to the allowed levels.

    That could indicate the jump may be only a blip…

  • South Carolina slaps Uber with cease-and-desist letter

    South Carolina has sent a cease-and-desist order to Uber Technologies, asking the hail-a-ride service to immediately stop all operations in the state.

    WLTX-TV in Columbia, S.C., reports the S.C. Public Service Commission on Thursday issued a directive that the company not operate until it receives proper state certification, as required by law for taxi operators and other motor vehicle carriers.

    Uber launched services last year in Columbia, Charleston, Myrtle Beach and Greenville, S.C., according…