Wachovia Corporation News

Novare Group , an Atlanta-based developer that has been one of uptown Charlotte's most active builders, is facing possible default on "a substantial amount" of debt, including loans tied to its Catalyst residential tower.

An economic recovery could be starting. But don't expect job losses to halt immediately.

The 10 founders worked for Stanford in Charlotte for between four and 13 months before the firm closed in February, said Leila Evans, a partner in the new company.

Data storage company EMC boosted its offer to buy Santa Clara-based Data Domain to $33.50 per share in cash and says it received regulatory approval for the purchase.

The change reflects the bank's continued integration with Wells Fargo & Co. of San Francisco, which acquired Charlotte, N.C.-based Wachovia Corp.

The American economy lost 467,000 jobs in June and the unemployment rate edged up to 9.5 percent in a sobering indication that the most painful downturn since the Great Depression has yet to relinquish its hold.

The FBI said the armed man who robbed the Bank of Granite on Providence Road Friday morning is the same man known as the Bearded Bandit.

Wells, based in San Francisco, purchased Wachovia Corp. last year in the wake of that bank's collapse.

The slump in the automobile industry has prompted job cuts at a Wells Fargo servicing center for auto financing, with about 50 people losing their jobs.

McClatchy & Co., one of the companies hardest hit by the crisis in the newspaper industry, was honored Monday for its coverage of the economic meltdown.

Triangle joblessness rose again in May as the pain of this recession continued to spread across industries.

Embattled Houston financier Robert Allen Stanford has pleaded not guilty to charges that he ran a multibillion dollar Ponzi scheme.

Federal Reserve Chairman Ben Bernanke told a congressional panel Thursday that the Fed had asked Bank of America Corp.

After months of belt tightening during the global recession, some financial security professionals expect improved funding for security projects over the next six months.

Most U.S. stocks rose for a second day amid growing speculation the recession is easing, while energy shares declined with the price of oil.

John Stumpf of Wells Fargo hosted a breakfast kickoff to a three-day chamber of Commerce event.

Police said a man robbed a bank in North Charlotte Friday morning and then walked right into a police precinct.

Standard & Poor's has lowered its ratings on 22 U.S. banks, including Wells Fargo & Co.

When Gastonia's Carolina Commerce Bank agreed last week to merge with Carolina Trust Bank in Lincolnton, the deal barely merited mention in local banking chatter.

A Wachovia Corp. veteran who previously led community banking operations at the Charlotte-based bank has left the combined Wells Fargo & Co.