An estimated 30,000 Iowans will continue to receive unemployment benefits through Feb. 28 under an emergency extension signed into law yesterday by President Barack Obama. The Worker Assistance Act of 2009 provides the framework for the emergency unemployment benefits. In all, Iowans are eligible for up to 47 weeks of additional benefits once their initial weeks are exhausted. Emergency benefits are paid by the federal government and do not affect Iowa’s Unemployment Insurance Trust Fund solvency. The federal Emergency Unemployment Benefits program was set to expire on Dec. 31.

Sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, data showed on Wednesday, dealing a blow to the housing market’s recovery, Reuters reported. The Commerce Department said sales dropped 11.3 percent, the biggest decline since January, to a 355,000 unit annual rate, from a downwardly revised 400,000 units in October. Analysts polled by Reuters had expected new-home sales to increase to a 440,000 annual pace from October’s previously reported 430,000 units.

Danfoss A/S of Denmark announced Tuesday that it intends to launch a cash tender offer for all of the outstanding shares of common stock of its Ames-based U.S. subsidiary, Sauer-Danfoss Inc. that are not already owned by the company and its subsidiaries. Shareholders will be offered $10.10 per share in cash; the company intends to commence the offer the first week of January. Danfoss and its subsidiaries currently own a stake of approximately 76 percent in Sauer-Danfoss. Sauer-Danfoss said its board is reviewing the offer and advised shareholders to await its recommendation.

Three Iowa colleges have formed a business and agriculture exchange program with two Brazilian universities to expand international education opportunities for students early in their academic careers. The University of Northern Iowa, Kirkwood Community College and Hawkeye Community College will participate in the Iowa-Midwest Brazil Exchange in Business and Agriculture Program. The program received a $228,240 grant through the U.S.-Brazil Higher Education Consortia Program. Participating Iowa students may choose to study one semester under the program at either the Universidade Federal de Goiás or the Universidade de Brasília. The program is now accepting applications for fall 2010. For more information, click here .