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Raleigh Triangle Local and Business News

  • Raleigh's Hatteras Funds acquired by New York's RCS Capital

    New York’s RCS Capital Corporation (NYSE: RCAP) acquired”substantially all” of the assets of Hatteras Funds, a Raleigh investment group.

    Hatteras is a boutique investment firm founded in 2003 that manages $2.7 billion in “alternative investment strategies for a broad range of institutions, endowments, pensions and high-net-worth individuals,” according to the group.

    It should not be confused with Hatteras Venture Partners, the Durham-based life sciences investment group that includes Clay…

  • Housing costs burden more than a third of Durham-Chapel Hill households

    Nearly 35 percent of Durham-Chapel Hill households are cost burdened, meaning they spend more than 30 percent of their income on housing, according to Harvard’s recently released national housing report.

    The report says about 17 percent of those households are severely burdened; they spend more than half of their income on housing.

    Durham-Chapel Hill’s market aligns with the rest of the country. Based on the most recent data, about 40.9 million American households (35.3 percent) are cost burdened,…

  • UNC snags $11M to harness the power of the sun

    UNC-Chapel Hill got a big cash boost in its efforts to discover solar technologies of the future.

    The university received $10.8 million from the U.S. Department of Energy’s Office of Basic Energy Sciences. The award, part of a $100 million initiative from the Department of Energy, will allow UNC’s Energy Frontier Research Center for Solar Fuels a cash runway to explore ways to create and store solar power. Specifically, it will build upon the center’s capstone project – a complicated-sounding…

  • Judge finds for Womble Carlyle in discrimination lawsuit over fired employee

    A federal judge has sided with Womble Carlyle Sandridge & Rice in a lawsuit brought by the U.S. Equal Employment Opportunity Commission claiming the Winston-Salem-based law firm violated the Americans with Disabilities Act by firing an employee because of a disability.

    U.S. District Court Judge Catherine Eagles granted summary judgment to Womble Carlyle after finding that the employee, a cancer survivor, did not qualify under the Americans with Disabilities Act.

    The employee was fired because…

  • Cree's biggest competitor, Philips, spins out a new all-LED company

    Cree’s biggest competitor, Philips Electronics, is spinning its LED components operation into a separate company.

    And the internet is buzzing with how the move might impact the Durham-based LED maker.

    Philips is looking for outside investors for its Lumileds Lighting unit, which it plans to combine with its automotive-lighting business in an entirely new company that could face off against Cree. Sales of both of Philips’ to-be-combined lighting businesses, according to the Wall Street Journal,…