Relief on housing costs from interest-rate cuts issued by the Federal Reserve last month may not be as straightforward as some would-be homebuyers might expect. But some areas of the country are poised to feel the impacts of rate cuts more significantly than others.<\p> A recent analysis by Realtor.com found 60.2% of homeowners in the U.S. lived in homes with a mortgage while 39.8% of owners owned their homes free and clear. But the share of mortgaged homeowners versus those who owned their homes outright vary — sometimes significantly — by state.<\p>

A handshake-deal gone wrong has pitted these restaurant partners against each other in court. Restaurateur Patrick Whalen and Charlotte-based CU SOBE LLC have filed a complaint against Michael Tuttle in North Carolina Business Court.<\p> Tuttle, a Davidson resident, has invested in four of Whalen’s restaurant concepts — Church and Union locations in Nashville, Tennessee, and Denver, Colorado, La Belle Helene in uptown Charlotte and Ophelia’s Bar + Pizza in Nashville. Tuttle committed to making a $2 million investment in an upcoming, Miami-based venture called CU SOBE — but those have funds failed to materialize, according to court documents.<\p>

Award-winning mixologist Bob Peters is ready to bring Miami garden bar vibes to South End.<\p> Peters debuts new craft cocktail lounge, Folia, at 5 p.m. on Oct. 11. It’s at 1440 S. Tryon St., Suite 102. It is neighbors with Wooden Robot Brewery, Vinyl and Pie.zza.<\p>

Five years ago, Larry Thompson became invested in Charlotte Motor Speedway — literally. <\p> Thompson, a Harrisburg resident, paid $212,500 to purchase a unit at First Turn Condos above the NASCAR race track — a move that ended up sparking his foray into short-term rental properties.<\p>

M/I Homes Inc. (NYSE: MHO) is adding to its Charlotte-area portfolio with a new community in Mooresville.<\p> It's building 201 single-family homes and 112 townhomes at Cambrey Pointe, off Rinehardt Road. The homebuilder acquired a 123.5-acre site for the project for $12.9 million last month, according to Iredell County real estate records. Development of the community is expected to begin later this year. <\p>

Sports betting in North Carolina increased by a whopping 55% in September, fueled by the start of football season, according to monthly figures compiled by the N.C. State Lottery Commission.<\p> North Carolina legalized online sports betting in June 2023. Online gambling started in March 2024, coinciding with the NCAA men’s basketball tournament, one of the most popular sports-betting events of the year.<\p>

Honeywell International Inc. (NASDAQ: HON) is spinning off one of its business units as it continues to reposition its portfolio under CEO Vimal Kapur.<\p> The Charlotte-based Fortune 500 company disclosed today plans to spin off its advanced materials business into an independent, publicly traded company. The business provides specialty chemicals and materials. The spin-off is slated for completion in late 2025 or early 2026.<\p>

More companies are publicly dropping their diversity, equity and inclusion initiatives amid backlash, but experts say the fight to foster diversity in the workplace is ongoing.<\p> In the past few months, companies such as John Deere Co., Tractor Supply Co., Jack Daniel's, Harley-Davidson Inc. and Lowe's Cos. Inc. have either dropped their DEI efforts or publicly distanced themselves from those initiatives. <\p>

Fans attending the NASCAR races at Charlotte Motor Speedway this weekend will notice some big changes on the track’s big TV. New screens and new technology will deliver crisper, clearer images — the speedway's first TV upgrade since the video board arrived in 2011.<\p> The video board remains one of the largest in the U.S., according to the speedway, measuring 77 feet tall by 200 feet wide. The speedway kept the original steel frame and replaced the screens and electronics inside.<\p>

Charlotte City Council appears ready to pursue a $3.7 billion toll road expansion of Interstate 77 between the South Carolina state line and Brookshire Freeway in uptown.<\p> On Monday, council spent two hours discussing the project and hearing a presentation from the state transportation department. If approved — and there are several more steps along the way — construction is expected to take five years.<\p>

Two mansions in the Charlotte area owned by high-profile sports figures have come off the market — for now. Both homes were listed for sale earlier this year at $12.5 million. <\p> One of those homes is a Chateau-style estate in Mooresville owned by former Carolina Panthers star running back Christian McCaffrey — now with the San Francisco 49ers. McCaffrey, who was traded by the Panthers in the fall of 2022, listed his home on Tennessee Circle in January. It exited the market in late September.<\p>

An apartment complex off George W. Liles Parkway in Concord changed hands in a recent sale.<\p> Tower Place Apartments sold in September for $22.35 million, according to Cabarrus County real estate records. The buyer is affiliated with Dallas-based Silverado Interests, records show.<\p>

The Good Wurst Co. has permanently shuttered its South End restaurant — and its landlord is seeking nearly $1.2 million in damages.<\p> The restaurant’s ownership faces an ongoing legal battle with Tryon Investors a/k/a Tryon Owners — an LLC for Vantage South End — according to documents filed in Mecklenburg County Superior Court.<\p>

Albemarle Corp. (NYSE: ALB) has unveiled a new operating structure as part of the company's review of its costs and operations.<\p> The Charlotte-based lithium giant said today that it would move its two core business units — energy storage and specialties — into one integrated operating model. Albemarle said in its announcement that the move would "deliver significant cost savings." The move is part of a comprehensive cost review the company disclosed during its second-quarter earnings release.<\p>

Publix is doubling down on Mooresville. <\p> The Lakeland, Florida-based grocer will open a 48,000-square-foot store within Harris Farms at 7 a.m. on Oct. 23.<\p>

A Norwegian grid enhancing technology company is establishing its North American headquarters in Charlotte.<\p> Heimdall Power, based in Oslo, recently moved into a 2,000-square-foot office space at 214 W. Tremont Ave. in South End. Legacy Real Estate Managing Partner Monte Ritchie, who represented Heimdall, said the company decided to start small to get operations up and running quickly.<\p>

North Carolina natives and country music stars Luke Combs and Eric Church are teaming up with singer-songwriter James Taylor and bluegrass performer Billy Strings for a benefit concert at Bank of America Stadium on Oct. 26 to raise money for victims of Hurricane Helene.<\p> Combs is from Asheville, which has endured some of the severest flooding and damage from the storm that dumped record amounts of rain on western North Carolina over a three-day period beginning Sept. 25. Church grew up in Granite Falls. <\p>

Jesse Cole came to Gaston County from Wofford College, where he pitched for the school’s baseball team and earned a degree in humanities and leadership. Within a decade, he and his wife, Emily, would co-found the Savannah Bananas, who now rank among the most popular sports and entertainment groups in the nation.<\p> Throughout that time, up to the present, Jesse Cole kept his main residence in the Charlotte area. Even now, with the Bananas based in Georgia, the Coles and their young children live in Belmont.<\p>

The Charlotte Business Journal is continuing its monthly review of health code inspections for food establishments in Mecklenburg County. <\p> Establishments listed in this review received grades of either a "B" or "C" when inspected during the month of September, according to data pulled Oct. 4 from the N.C. Public Health Inspections' online database. Restaurants, food stands, mobile-food operators and push carts are included in this review.<\p>

During the peak of the pandemic, Ashlyn Greer quit her video production job to figure out how she could make her entrepreneurial goal a reality. <\p> "It was kind of a now-or-never time," she said.<\p>