China's Lenovo Group is buying IBM's low-end server business for $2.3 billion, expanding a product line-up dominated by PCs, tablets and smartphones.
Lenovo, the world's biggest personal computer maker, said Thursday that it expects to offer jobs to 7,500 IBM employees as part of its acquisition of the so-called x86 server business.
Personal computer maker Lenovo, a China-based company that also has a headquarters in Morrisville, will “essentially double” its presence in North Carolina when it finalizes the purchase of part of International Business Machine Corp.’s computer server business.
International Business Machines Corp., a New York-based technology company that’s a top employer here, is planning another workforce reduction this year that’s expected to be “big” by one employee advocacy organization.
IBM posted higher profits in the fourth quarter of 2013, but also reported a 5 percent drop in total revenues, for the company’s seventh straight quarter of declines.
Durham-based Cree Inc.’s profits were up 75 percent year-over-year in the second quarter of the company’s fiscal year to $35.7 million, the company reported Tuesday.
Revenues were up 20 percent to $415.1 million. The revenue total beat the average analyst estimate of more than $412 million, as compiled by Thomson Reuters I/B/E/S.
While foreclosures are down in North Carolina and locally, Devin Brown, an outreach coordinator a foreclosure prevention organization in Hillsborough, said he doesn’t believe things are necessarily “better.”
It was while he was volunteering in Hurricane Katrina’s aftermath in Mississippi that Andrew Gaddis said he realized cooking is something he’s good at and enjoys, and is what he wants to do for the rest of his life.
Foreclosure filings in Durham County were down 20 percent year-over-year in 2013 to their lowest level since 2002.
That’s according to data from the N.C. Administrative Office of the Courts. The count included civil case filings with a home or business foreclosure filing.
For the state of North Carolina, foreclosure filings were down 18 percent compared with 2012. The total hasn’t been lower across the state since 2005.
An established Durham restaurateur plans to open a gluten-free eatery in southern Durham.
Tim Lyons, owner of the nearly seven-year-old Durham restaurant Blu Seafood and Bar, wants to open the new eatery. Called Primal Food & Spirits, it’s slated for later this year in the Kroger-anchored Southpoint Crossing shopping center off N.C. 54 near The Streets at Southpoint.
Triangle home sales were up more than 24 percent in 2013 from the prior year, and the average price for the four-county area increased 4 percent.