Business & Economy

Thousands of jobs are on the chopping block at Cisco Systems.  But analysts wonder if that’s enough to turn the company around.   Inge reports.

The 6,500 lay-offs at Cisco are no surprise.

Emily Chang - Bloomberg TV:  "Reports of impending layoffs have been circulating for weeks at the networking giant looks for ways to slash a billion dollars."

Food truck operators who hope to sell their creations in downtown Raleigh will soon know their fate. The City Council is set to vote today on a set of restrictions that will let them operate in the capital city. The public rift between food truck operators and bricks and mortar restaurant owners has been going on for more than a year. Some restaurant owners see food trucks as unfair competition. They say they pay high rents and property taxes, and fear that food trucks will set up outside their doors and siphon off customers.  Mike Stenke owns the Klausie's Pizza truck.

Leaders in the North Carolina Department of Commerce are taking a renewed interest is business with Russia.

North Carolina business leaders are pretty sophisticated – according to Jean Davis.

Jean Davis:  "Many of our North Carolina companies have solid bases in China and Japan and are now looking at Russia as the next horizon for them."

Two North Carolina communities have been awarded money from the state to help revitalize their downtowns.

The matching dollars are from the Main Street Solutions Fund – administered by the Department of Commerce.   This round – the cities of Salisbury and Lenoir were awarded grants.  Nick Dula is the Downtown Economic Development director for Lenoir.  He says the plan is to turn a vacant furniture store into Carolina Distillery, a restaurant and a wine store.

North Carolina's gas tax will increase by 2.5 cents this week. Analysts say that will cost drivers about $20 per year while raising about $150 million for the state's transportation fund. About 60 percent of that money comes from the gas tax. The increase goes into effect Friday, just before the holiday weekend. But Tom Crosby of Triple A Carolinas says it won't stop drivers from hitting the road for Independence Day.