NC OKs state package for jobs at GE Aviation
RALEIGH — One of the country’s largest companies is getting a rich incentives package to add about 240 jobs at four North Carolina factories within five years.
Gov. Pat McCrory’s office said Tuesday GE Aviation could get state tax breaks worth up to nearly $5 million if the company meets hiring and investment targets.
That’s on top of county and city governments offering land, cash and tax breaks that local newspapers reported to total more than $22 million and state business recruiters estimated worth nearly $11 million.
GE Aviation plans a parts factory near its existing Asheville plant to produce jet engine components made of advanced ceramic materials.
IMF scales back growth outlook for 2013-2014
WASHINGTON — The International Monetary Fund is forecasting slower global growth for 2013 and 2014 in an update of its outlook three months ago.
The lending agency cited on Tuesday expectations of a more protracted recession in Europe and a slowdown in key developing countries such as China and Brazil.
The update of the IMF’s World Economic Outlook issued in April projects the world economy will grow at 3.1 percent this year, the same as last year and down from a forecast of 3.3 percent three months ago. The 2014 forecast was cut to 3.8 percent from 4.0 percent.
RIM approved to make switch to BlackBerry
WATERLOO, Ontario — Research In Motion has won formal approval to change its name to BlackBerry. RIM announced plans for the change in January, when it unveiled new phones running a revamped operating system called BlackBerry 10. Since January, RIM has been going by BlackBerry in marketing materials. It has also changed its ticker symbol to “BBRY.”
Wal-Mart won’t build 3 D.C. stores if bill passes
WASHINGTON — Wal-Mart says it won’t build three stores it had planned for the District of Columbia if local lawmakers approve a bill that would force the retailer to pay employees at least $12.50 an hour.
Wal-Mart Stores Inc. had been planning to build six stores in the nation’s capital. But a Wal-Mart representative wrote in an op-ed published online by The Washington Post Tuesday the retailer will abandon plans for three of those stores if the bill gains final approval Wednesday. Wal-Mart says the bill will also jeopardize three stores already under construction.
NY Trade Center tower nabs major new tenant
NEW YORK — The World Trade Center is taking another big step in recovering from the 2001 terror attack — with a major new tenant in a rising skyscraper.
A person familiar with the talks told the Associated Press on Tuesday that GroupM, an advertising company, has an agreement for space in 3 World Trade Center. GroupM is moving into nine lower floors of the 80-story, $2 billion tower that is to be finished by 2016.
Shell names a new CEO to replace retiring chief
THE HAGUE, Netherlands — Royal Dutch Shell PLC says it is appointing its downstream director Ben van Beurden to replace Peter Voser as CEO when Voser retires next year.
The promotion marks a return to a Dutchman leading the Netherlands-British multinational after the tenure of Voser, who is Swiss. Shell announced Tuesday he will take over from Voser on Jan. 1.