In a company-run analysis, which was required by regulators, U.S. Bancorp projected that it could survive a major recession; Wells Fargo said it, too, would be prepared for such a downturn.
Banking + Finance
MNsure officials touted the exchange's average rates as lower than others that have been announced, but they vary greatly throughout Minnesota, and some employers are waiting for more information.
Rates that will be offered through the state’s health insurance exchange are out, but small employers are awaiting more details, and large employers are expecting questions from confused employees.
After the poll questions had been asked, a New Jersey judge ruled that the Wilfs' financial information will be made public in their real estate fraud case, although she is allowing them to appeal.
The company reported a narrower loss and slightly higher sales as it distances itself from expensive restructuring costs; its stock price, which has slid in recent months, climbed on the news.
Minnesota fares better than the national average when it comes to “negative equity.”
In order to save the state about $300 million over two years, Minnesota’s new tax code will not conform to the federal code—leaving out multiple tax cuts enjoyed in other states.
The Authority had to step back and re-examine the Wilf family's ability to pay its share of the stadium after a New Jersey judge found the family had committed civil fraud in a real estate deal there.
Fast-growing Snap Fitness has about 1,500 locations worldwide, and it said that the acquisition of Steele Fitness will help differentiate its offerings by adding “premium personal training.”
Rochester Medical, which develops urological devices, is the third Twin Cities med-tech company that C. R. Bard, Inc., has purchased in recent years.
Court filings list $2.1 million in liabilities, describing them as “primarily business debts”; in addition to leading the state’s Republican Party, Tony Sutton co-owned the Baja Sol restaurant chain.
New regulatory changes are meant to promote the hiring of veterans, but the local head of the Association of General Contractors is calling foul, claiming paperwork costs could be prohibitive.
Target is among retailers that have been touting growth in online sales. But when contacted by regulators, the company reportedly said that digital sales have represented an “immaterial amount” of total revenue.
The U.S. Export-Import Bank is considering funding a loan that would promote the exportation of U.S.-made equipment—but could aid Minnesota companies’ competitors.
A liquidator for two hedge funds accused General Electric Capital Corporation of concealing knowledge of Tom Petters’ Ponzi scheme.
Clear Harbor Investment wrote a letter last week to Northern Oil and Gas’ board of directors recommending the company repurchase 13 percent of its outstanding shares to improve its market value.
The most dramatic change to U.S. patent law by the America Invents Act may not prove the most significant. But it is the one that requires inventors’ attention—starting today.
The Nasdaq exchange—on which shares of Minnesota companies such as C.H. Robinson, Buffalo Wild Wings, and Fastenal are traded—temporarily ceased trading on Thursday.