Columbus, Ohio-based Nationwide Mutual Insurance Co. will take its publicly traded subsidiary, Nationwide Financial Services Inc., private in a $2.4 billion deal. Under the agreement, Nationwide Mutual will buy all outstanding Class A common stock in Nationwide Financial at $52.25 per share, compared with its stock price of $37.93 on March 7, the business day before the company disclosed the acquisition proposal. Nationwide Mutual already owns all of Nationwide Financial’s restricted stock. The deal is expected to close by early 2009, pending shareholder and regulatory approval, and reverses Nationwide Financial’s move to spin off from Nationwide Mutual 11 years ago. Joe Case, a Nationwide Mutual spokesman, said the deal provides long-term growth opportunities for Nationwide by enabling it to “leverage our very large property and casualty customer base to grow that financial services space as well.”

FBL Financial Group Inc. reported a net loss for the second quarter of $16.6 million, or 56 cents per share, compared with net income of $33.8 million, or $1.12 per share, in the year-ago period. Operating income fell to $21.1 million, or 70 cents per share, from $24.2 million, or 80 cents per share, in the second quarter of 2007. Operating income excludes the impact of market changes, such as gains and losses on investments. The company had net realized/unrealized losses on investments of $74 million, primarily from impairments related to asset-backed securities that were affected by the weakened residential real estate market. Premiums collected in the second quarter rose 66 percent to $694.3 million, with growth occurring in both FBL’s EquiTrust Life independent channel and in its exclusive Farm Bureau Life distribution channel.

The first Greater Des Moines Partnership regional forum will take place Aug. 21 at 7:30 a.m. at the Polk County Convention Complex in downtown Des Moines. Sens. Charles Grassley and Tom Harkin, along with Congressmen Leonard Boswell and Tom Latham, will share their thoughts and observations on Congress’ agenda and actions before addressing topics of interest to the audience. Admission to the event is $15 and includes breakfast. Register at www.desmoinesmetro.com/events before Aug. 15.

Wachovia Corp. has stopped accepting applications for private undergraduate student loans, following a similar move by Bank of America Corp. in April, the Charlotte Business Journal reported. Wachovia will continue to offer student loans for graduate and professional education and student loans backed by the federal government. It has about $9.9 billion in student loans on its books.

Sen. Chuck Grassley announced today that workers in Newton are now eligible to apply for trade adjustment assistance and alternative trade adjustment assistance through federal government programs. Workers who are eligible include those whose jobs at Maytag Corp. were affected between Dec. 24, 2006, and Dec. 26, 2008, as well as leased workers from Henkel Corp., Randstad Corp., Ryerson Steel, Chem-Tool, Barnes Electric, Mid Iowa Tools, Kimco Janitorial, Johnston Controls and Baker Electric whose jobs were affected between Nov. 16, 2005, and Dec. 26, 2008. The Trade Adjustment Assistance program offers a variety of benefits and re-employment services, including training, job search and relocation allowances and income support. The Alternative Trade Adjustment Assistance program provides assistance for workers over the age of 50.

The city of Ankeny has introduced a new online business directory that will go live on Monday at www.ankenyiowa.gov. The directory is designed to connect local businesses with residents and potential customers. It is categorized similarly to telephone book yellow pages and has a search engine. Ankeny businesses can submit new or updated information by filling out an online form on its Web site.

Argus Research Co. has upgraded the stock of Principal Financial Group Inc. to “buy” from “hold.”