Phil Smith will take over as CEO and president of the St. Paul-based company after Rodney Young steps down.

A new Gallup study found that in St. Paul and 25 other U.S. cities, social offerings, openness, and beauty are the main drivers of community attachment-and that attachment translates to increased gross domestic product.

Saint Marys Hospital and Park Nicollet Methodist Hospital have been named among the top 50 U.S. hospitals for inpatient cardiovascular services by a Thomson Reuters study.

The Minneapolis-based bank will pay "up to $35 million" in cash for Bank of America's domestic and European securitization and trust businesses-a move that will add more than $100 million in annual revenue.

A bank employee allegedly stole $62,240 from a branch in Kansas and then played victim in order to cover up his illegal activity.

Financial terms of the agreement were not disclosed.

The Wall Street Journal reports that Philip Falcone, a Minnesota native, and his New York-based investment firm are under investigation by federal authorities.

O.R. Solutions-a privately held company based in Chantilly, Virginia-develops and markets surgical fluid warming and cooling systems.

Howard Lutnick of BGC Partners took home the coveted prize as overall Entrepreneur of the Year, and the Upper Midwest was well represented by John Link of Jack Link's Beef Jerky.

Fish & Richardson has sued a former client, Camtek, Ltd., for more than $2.2 million in fees incurred during a patent infringement lawsuit that played out in Minnesota.

The second annual "Give to the Max Day" challenges Minnesotans to raise as much money as possible for the nonprofits of their choice during a day-long philanthropy event.

John Stanoch confirmed Monday that he will leave Qwest next year after serving for 10 years as president of the company's Minnesota and North Dakota operations.

Two separate suits have been filed-one in Alabama and the other in California-calling for class action against the retailer, which has admitted to shortchanging customers who were using coupons.

The university narrowed the candidate pool to four semifinalists earlier this month, but two of the four candidates declined to be part of a publicly identified pool; Minnesota law requires that the names of presidential finalists be made public.

In its amended transportation policy plan, the Metropolitan Council focuses on "lower-cost, high-benefit highway improvements" as it faces increasing highway congestion and limited funding.

The two Minnesota companies are among 111 applicants that have received one-year waivers on a federal health reform provision that requires employers to raise annual health coverage minimums.