AGP Executive Report
Last update: 4 hours agoJobs and Economy: North Carolina’s unemployment rate fell to 3.4% in September, while Pfizer announced layoffs at its Rocky Mount and Sanford facilities; the company has not said how many jobs will be cut. Semiconductors: Sibelco plans to invest hundreds of millions of dollars in North Carolina semiconductor manufacturing, alongside a broader federal push to expand chip production in the state. Manufacturing: The Whiskey Project Group has opened its 60,000-square-foot Edenton facility, a new North American production hub for maritime craft; a related report says the Chowan County project plans 200 jobs. Rural Broadband: RiverStreet, which serves rural communities in North Carolina and Virginia, filed for Chapter 11 and agreed to sell assets to Oaktree, saying existing customers should see no service changes. Fuel Costs: The state’s 41-cent-per-gallon fuel tax suspension has drawn 470 complaints alleging stations failed to lower prices; Attorney General Jeff Jackson’s office is reviewing them. Banking: First Bancorp reported third-quarter profit of $51.3 million, or $1.24 per share, topping analyst estimates; Wilmington-based Live Oak Bancshares reported $26.4 million in net income.
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