Alimentation Couche-Tard Inc., the Canadian convenience store company that is attempting to buy Casey’s General Stores Inc., today reported earnings today of $1.60 per share for the year ended April 25, a 31 cent increase from its previous fiscal year. Couche-Tard has offered to buy Casey’s for $36 a share, and announced Monday that it has acquired 19 percent of the Ankeny-based company’s outstanding shares. Casey’s board of directors is fighting the takeover. Couche-Tard, which is based in Quebec, said net earnings for the year increased 19.3 percent, to $49 million. Same-store merchandise sales increased 3.2 percent in the United States and 6.9 percent in Canada. For the year, the company lost 3 cents a gallon on gasoline sales, although it regained some of that loss during the fourth quarter. Couche-Tard is the largest independent convenience store company in North America, with 5,878 stores in the United States and Canada.

A federal appeals court has sided with American Equity Investment Life Insurance Co. and other insurers that want the U.S. Securities and Exchange Commission (SEC) to classify indexed annuities as insurance products rather than as securities. A three-judge panel at the D.C. Circuit Court of Appeals has granted American Equity’s request for a rehearing in American Equity vs. SEC because the panel agrees with the plaintiffs’ view that the SEC “failed properly to consider the effect of the rule upon efficiency, competition, and capital formation.” Click here to read the article in National Underwriter.

Harlee Olafson, formerly the area business banking manager for Wells Fargo & Co. in Minnesota, will join West Bank and West Bancorporation Inc. as the companies’ chief risk officer. Olafson, who has worked in the banking industry for 30 years, said he is excited to join West Bank and get involved in the Greater Des Moines community. “Risk is inherent in nearly every aspect of banking,” said West Bank President Brad Winterbottom, in a statement. “Harlee’s strong credit background and vast expertise will be invaluable throughout the organization.”

The Environmental Protection Agency has raised its required amount of biodiesel to 800 million gallons for 2011. The increase will correspond to Energy Independence and Security Act of 2007 goals. “This notice demonstrates to all actors in the fuels marketplace that the volume goals for biomass-based diesel provided for by law in the RFS2 program will be met, and that 800 million gallons of biodiesel must be used in 2011,” said Manning Feraci, vice president of federal affairs for the National Biodiesel Board, in a statement.

Mercy Medical Center – Des Moines has been ranked in the top 5 percent of U.S. hospitals for emergency care by Modern Healthcare magazine. Only 255 hospitals received the honor nationwide. The magazine analyzed medical records of patients coming into the emergency room and determined that if every hospital worked at the level that Mercy does, more than 100,000 more lives would be saved annually, according to a release.

The iPhone 4 may be one of the most popular products currently on the market, but it still won’t get a recommendation from Consumer Reports. The magazine said reception problems found during testing prevent it from recommending Apple Inc.’s newest phone. “When your finger or hand touches a spot on the phone’s lower left side — an easy thing, especially for lefties — the signal can significantly degrade enough to cause you to lose your connection altogether if you’re in an area with a weak signal,” said Mike Gikas, of Consumer Reports, in a statement. Read more.