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December 5, 2025

Closed K&W Cafeterias restaurant with empty tables
Business News

K&W Cafeterias Closes All Locations After 88 Years

Winston-Salem, North Carolina, December 5, 2025 K&W Cafeterias, a beloved Southern comfort food chain, has announced the permanent closure of all its locations as of December 1, 2025. After facing significant financial challenges, including falling sales and the impacts of the COVID-19 pandemic, the chain, founded in 1937, has concluded its 88-year legacy. The sudden closure impacts employees and marks the end of a dining tradition for many families in the

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December 5, 2025 No Comments
Public transit system in Charlotte featuring buses and rail in a bustling urban environment.
Business News

Charlotte’s Expanded Transit Plan: A Transformative Step for Public Transport

Charlotte, North Carolina, December 5, 2025 The Metropolitan Public Transportation Authority (MPTA) is set to transform public transport in Charlotte with a significant expansion plan. The updated Transit System Plan, approved by the Metropolitan Transit Commission, includes a 50% increase in bus services and 43 miles of new rail lines. This initiative aims to alleviate traffic congestion, improve connectivity, and support local businesses while engaging communities throughout the process. Charlotte’s Expanded

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December 5, 2025 No Comments
Graphic showcasing home equity line of credit for self-employed borrowers in Charlotte, NC.
Business News

Deephaven Mortgage Launches Innovative Equity Advantage HELOC

Charlotte, NC, December 5, 2025 Deephaven Mortgage has introduced the Equity Advantage HELOC, a home equity line of credit designed for self-employed individuals in Charlotte, NC. This new financing option allows borrowers to tap into their home equity without refinancing existing low-rate mortgages, utilizing 12 months of bank statements for qualification instead of traditional tax returns. With loan amounts up to $400,000 and flexible terms, this initiative supports local entrepreneurs seeking

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December 5, 2025 No Comments
Frontier Airlines plane at Charlotte Douglas International Airport
Business News

Frontier Airlines Expands Caribbean Service from Charlotte

Charlotte, NC, December 5, 2025 Frontier Airlines is launching new nonstop flights from Charlotte Douglas International Airport to Cancun International Airport in Mexico, starting March 6, 2026. This service will operate three times per week and offers an introductory fare starting at $99. With this addition, Frontier will serve a total of 14 destinations from Charlotte, enhancing options for travelers in the region and fulfilling the airline’s commitment to provide affordable

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December 5, 2025 No Comments
Office scene depicting financial advisors discussing investment strategies
Business News

Horizon to Acquire Anfield Capital Management

Charlotte, N.C., December 5, 2025 Horizon, an investment and technology solutions provider, has announced its acquisition of Anfield Capital Management, a California-based firm specializing in fixed income investing. This move aims to enhance Horizon’s offerings in fixed income products and OCIO services. With approximately $662 million in assets under management, the acquisition is expected to close in the first half of 2026, pending approvals. Horizon’s CEO emphasized the strategic fit and

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December 5, 2025 No Comments
Interior view of the Spectrum Center showing fans and upgraded seating after renovation.
Business News

Charlotte’s Spectrum Center Sees Attendance Surge After Renovation

Charlotte, NC, December 5, 2025 Following a $245 million renovation, Charlotte’s Spectrum Center has witnessed a substantial uptick in attendance and revenue. In just one month post-reopening, the venue hosted 20 events, attracting approximately 325,000 guests. Enhancements such as additional seating and diverse food options have greatly improved the fan experience, leading to an 11% increase in average attendance at Hornets games and four sellouts in the early season. The renovation

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December 5, 2025 No Comments
Graphic representation of financial technology concepts related to SoFi Technologies public offering
Business News

SoFi Technologies Announces Major $1.5 Billion Public Offering

San Francisco, CA, December 5, 2025 SoFi Technologies has unveiled a public offering of 54,545,454 shares at $27.50 per share, totaling approximately $1.5 billion. This strategic move aims to enhance the company’s capital position and support growth opportunities. The expected closing date is December 8, 2025, underlining SoFi’s confidence in the evolving fintech landscape. As the company utilizes these funds for expansion, it reflects the positive trajectory within the financial technology

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December 5, 2025 No Comments
Courtroom scene from the NASCAR antitrust trial
Beauty

NASCAR Antitrust Trial Examines Revenue-Sharing Dispute

Charlotte, N.C., December 5, 2025 The NASCAR antitrust trial has revealed significant tensions between NASCAR leadership and competing teams over a proposed revenue-sharing model. NASCAR President Steve O’Donnell’s testimony highlighted the France family’s resistance to changes that could help financially troubled teams. This lawsuit involves key players like Front Row Motorsports and 23XI Racing, focusing on a charter system that guarantees team participation in races but raises questions about financial sustainability.

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December 5, 2025 No Comments
Automated grocery fulfillment center featuring advanced robotics and logistics technology.
Business News

Ocado Secures $350 Million from Kroger Amid Facility Closures

Charlotte, North Carolina, December 5, 2025 Ocado Group plc is set to receive a $350 million payment from Kroger Co. as compensation for the closure of fulfillment centers in Maryland, Wisconsin, and Florida, as well as the cancellation of a facility in North Carolina. This strategic shift aims to enhance efficiency across operational centers while Ocado remains optimistic about future growth despite a projected reduction of $50 million in revenue for

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December 5, 2025 No Comments
Leadership transition at Nucor Corporation in Charlotte
Business News

Nucor Announces Leadership Transition in Charlotte

Charlotte, North Carolina, December 5, 2025 Nucor Corporation has promoted Stephen D. Laxton to President and COO, set to begin on January 1, 2026, coinciding with David A. Sumoski’s retirement. Laxton’s ascent represents a pivotal change for the company, fostering hope for innovation and economic growth in Charlotte’s business community. As Nucor prepares for this transition, local entrepreneurs look forward to the potential for renewed investment and opportunities in the region’s

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December 5, 2025 No Comments

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