Archive for May 2011
Trade deficit exceeds forecast as oil imports surge
The U.S. trade deficit widened more than forecast in March as the highest oil prices in more than two years boosted imports, eclipsing record exports, Bloomberg reported.
The trade gap rose 6 percent to $48.2 …
Read MorePostal Service reports $2.2 billion loss, may default on payments
The U.S. Postal Service continues to hemorrhage money, with a loss of $2.2 billion in the most recent quarter, CNNMoney reported.
The national mail service said Tuesday that it expects to have a cash shortfall …
Read MoreMortgage servicers offer $5 billion settlement
Five major mortgage servicers, including Wells Fargo & Co., have proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials. The banks made the proposal yesterday during settlement …
Read MoreBetter Business Bureau warns of ad scam
The Iowa Better Business Bureau (BBB) is warning chambers of commerce and small business owners in the state about a company selling advertising space on magnetized city guides. The company, Communities Unlimited LLC of Davenport, …
Read MoreNationwide Foundation donates $30,000 for after-school program
Children and Family Urban Ministries (CFUM) announced Tuesday that it received a grant of $30,000 from the Nationwide Foundation. The grant will be used for literacy-based after-school and school-break programs provided for students attending the …
Read MorePappajohns to receive honorary degrees from Drake
Des Moines philanthropists John and Mary Pappajohn will be presented with honorary degrees during commencement ceremonies at Drake University on May 14. They were nominated for this honor in recognition of their extraordinary support of …
Read MoreRomney to kick off presidential candidate series
Potential presidential candidate Mitt Romney will kick-off the 2012 Presidential Candidate Series with an event to be held May 27 from noon to 1:00 p.m. at the State Historical Building in downtown Des Moines. The …
Read MoreJudge clears the way for purchase of former Home Valu store
Vista Real Estate Investment Corp. Inc. can buy the former Home Valu Inc. store in Urbandale for $1.5 million, a bankruptcy judge in Minnesota ruled May 4.
Home Valu closed the store at 4105 N.W. …
Read MoreBest Buy to downsize as Whole Foods moves in
Best Buy Co. Inc. will downsize its West Des Moines store as the owner of Water Tower Place develops a new space for a Whole Foods Market Inc. store.
Jeff Daniels, a broker associate with …
Read MoreTied to commercial real estate, 13 banks fail
Though the reasons 13 U.S. banks failed in April varied, New York-based Trepp LLC said lending in the commercial real estate arena represented the largest source of nonperforming loans on those financial institutions’ balance sheets. …
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