Under the agreement with Magnetation, Cargill will have the exclusive right to jointly develop and apply the company's mining technology and market the recovered iron concentrate to its international iron ore customers.

Dennis O'Malley has taken the reins of the Minneapolis-based law firm from Daryle Uphoff, who served as managing partner for 16 years.

The pop singer, who was named the Minnetonka-based company's creative director last year, has co-designed a line of gadgets called Grey Label.

3M's CEO told Bloomberg that he intends to remain with the company as it executes a succession plan following the expiration of his contract. The company has declined to discuss the details of that succession plan.

The network, called Best Buy On, includes a Web site that tackles a new technology topic each month and a component through which content and ad messaging is broadcast on screens inside stores.

Financial terms of the acquisition were not disclosed.

The company plans to triple the manufacturing capacity of products that use its S8 manufacturing process, which will result in an overall increase at the facility in 2011.

Myron Frans-a tax attorney who formerly worked at Faegre & Benson-has been named commissioner of revenue, and Mike Rothman-a shareholder at Winthrop & Weinstine-is the new commissioner of commerce.

Philip Joseph Franklin, owner and president of Franklin Drywall, pleaded guilty to one count of providing a false statement to two labor-union pension and benefit funds in connection with a scheme to underpay employees for overtime and to underpay union funds.

A diversity program called BrandLab is making its way into local schools in an effort to encourage minority and low-income high-schoolers to make marketing a career.

Following a tumultuous couple of years, the shoe company is set to grow as it experiences an increase in demand.

Customers who are looking to get the latest tech gadgets and devices will be able to do so by exchanging their old products under a buy-back program that Best Buy is reportedly launching.

Two board candidates nominated by shareholder Ramius, LLC, will join the company's board immediately, and two current board members will vacate their seats in February-an arrangement that Ramius sought in order to address SurModics' "long-term underperformance."

A company spokesman said he expects the bank to garner "more deposits and more customers" following the elimination of $9.95 monthly maintenance fees, which were imposed a year ago.

The acquisition-the financial terms of which were not disclosed-will strengthen the local firm's presence on the East Coast.