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August 26, 2016

HOFFMAN ESTATES, Ill. – Sears posted a second-quarter loss Thursday, with perpetually weak sales overshadowing the retailer's efforts to cut costs and slow its cash burn. CEO Edward Lampert's hedge fund will forward the ailing chain $300 million in additional debt financing.

Traditional…


The hidden risk to the economy in corporate balance sheets

August 25, 2016

NEW YORK — America has a debt problem, but it's not what you think.

Yes, the federal government owes trillions of dollars more than it did a few years ago. Yes, Americans are still struggling to pay off mortgages and student loans. But it's the buildup in debt elsewhere that is most worrying…


Bank opens new business center

August 24, 2016

After nearly nine months of construction, the new three-story Southern Bank’s business center started operations last weekend in downtown Rocky Mount, company officials said.

The new 16,000-square-foot facility is located at the corner of Sunset Avenue and North Church Street. The…


New home sales climb to best level since late 2007

August 23, 2016

WASHINGTON — Americans stepped up their purchases of new homes in July to the fastest pace in nearly nine years, the latest sign that low mortgage rates and a solid job market are helping support the residential real estate market.

New-home sales jumped 12.4 percent last month to a seasonally…