David Mildenberg

Duke Energy Progress is cutting its residential rate in North Carolina by 4.5%, effective this week, in its annual adjustment for fuel costs at electric power plants.

T alk about a great gig: Dan Winslow’s job is to help a $1.6 billion endowment eventually give away $80 million a year or more for worthy causes in an area totaling about 242,000 people.

Cone Health of Greensboro said it completed its merger into Risant Health, ending 71 years of local ownership of the Gate City’s largest hospital operation.

The Duke Endowment, which turns 100 today, says it will distribute $5 billion over the next 15 years, or about $1 billion more than its current projected philanthropy.

Duke Health, which operates internationally known Duke University Hospital in Durham, s i gned an asset purchase agreement to buy Lake Norman Regional Medical Center and related businesses in Mooresville in Iredell County.

Wilson-based S.T. Wooten Corp. said it acquired Capital Ready Mix Concrete, which operates four ready-mix plants and locations in Pittsboro and Knightdale. Terms weren’t disclosed.

Terra Funding has sold Uptown Charlotte’s five-story 200 North College

Duke University Health System got $50 million from an anonymous donor to help develop a proton beam therapy center. It’s the largest philanthropic gift received by the system.

Haya Ajjan, a professor and administrator at Elon University since 2010, was named the next dean of the Martha and Spencer Love School of Business, effective June 1. Her selection follows a national search.

Asheville’s Dogwood Health Trust announced an additional $20 million of commitments to respond to the devastation caused by Hurricane Helene in western North Carolina (WNC). This third round of funding adds to