Germany-based Deutshe Bank announced it plans to cut 7,000 jobs and reshape its sales and trading business. The company’s bases its software and applications development group in Cary, and employs 900 people at the center. It is unclear whether the job cuts will affect the bank’s Cary operations.
The best way to jump start your business day.
Subscribe to the Daily Digest and get all of the latest business news from all around North Carolina straight to your inbox… for free!
Morrisville-based robotic surgical firm TransEnterix stock jumped as high as 11% on Thursday afternoon after announcing its $40 million debt financing. The refinancing allows to company to commercialize its Senhance surgical devices in the U.S.
Startup Brii Biosciences, based in Shanghai, China and Durham, has raised $260 million in committed venture-backing. Backers include ARCH Venture Partners, 6 Dimensions Capital, Boyu Capital, Yunfeng Capital and Blue Pool Capital. The company’s goal is to deliver breakthrough medicines to China and improve the overall public health in the country.
Only two film projects have utilized North Carolina’s hefty film grant program over the past 11 months. Last year, the N.C. General Assembly approved $15 million in funding to be added to $19 million in leftover funds and $31 million in recurring funds for each year after, and the program was made open-ended. “Words on the Bathroom Walls,” a feature film currently being shot in Wilmington, received a $2.35 million grant; five Home Depot commercials being shot in N.C. received $500,000 in funding.
Mooresville-based IT company Corvid Technologies broke ground on its $29 million corporate campus in Mooresville. The company has an average annual growth rate of 30%. The new headquarters will be the third Mooresville location.
Raleigh-based clinical trials company CTMG Inc. has filed for Chapter 7 bankruptcy. The company cited assets around $107,000 and liabilities of about $3 million in its bankruptcy filling. CTMG reported gross revenue of $523,000 for the fiscal year ending March 31, 2018.
Durham-based software company First Leads Inc. has raised $5 million in an equity offering. First Leads raised more than $2 million in equity and $750,000 in debt in February, and raised more than $757,000 in equity and $500,000 in debt in 2015.
Wake Forest University has named Janet Williams as the new vice president for finance. Williams currently serves as interim Vice President of the division of finance and administration at Ithaca College in New York; she will start at WFU on July 1.
The N.C. Central University law school dean Phyllis Craig-Taylor is stepping down from her position as the school addresses compliance issues from the American Bar Association. The law school’s incoming class will shrink by about one-third because of new minimum admissions standards. Craig-Taylor, dean of the law school since 2012, will remain at the school as a faculty member. The ABA wrote the law school was “significantly out of compliance” with ABA standards; in 2017, only 54% of NCCU law graduates passed the bar exam the first time taking it. The first year student attrition rate in 2016-17 was 37.7%.
The Triangle is getting a close look as a possible 500-employee headquarters for a new U.S. Army Futures Command. The region is among 15 areas under consideration by the military, prompting a coordinated recruiting effort by state officials.