Iowa’s unemployment rate rose to 4.4 percent in October from 4.2 percent in September, Iowa Workforce Development said today. The statewide jobless rate was 3.8 percent one year ago. The total number of working Iowans decreased to 1,608,700 in October from 1,614,300 in September. However, the current month’s estimate is 7,400 higher than the year-ago level of 1,601,300. The number of unemployed increased to 74,300 in October from 70,800 in September. In October 2007, the number of unemployed was reported at 63,500. The U.S. unemployment rate climbed to 6.5 percent in October, its highest level since 1994. President George Bush signed legislation today that extends unemployment insurance benefits at least seven weeks in every state and by 13 weeks in states with unemployment rates of at least 6 percent, CNNMoney reported. Currently, most states offer unemployment benefits up to 26 weeks.

Hy-Vee Inc. has signed on as the presenting sponsor of Winefest Des Moines next year, replacing Dahl’s Foods, which has been the presenting sponsor for the past five years. Hy-Vee spokeswoman Chris Friesleben said Winefest approached Hy-Vee with an attractive offer, especially given that wine and spirits are a growing part of Hy-Vee’s business. Kit Curran, executive director of Winefest, said because Hy-Vee has more stores throughout the state than Dahl’s, it will allow the event to have a larger outreach and grow. Neither party released details of the deal.

Steve & Barry’s LLC, a discount casual apparel chain, will liquidate by early 2009 after its new owners said they would not be able to find financing, Reuters reported. The discount chain currently maintains three stores in Iowa, including its Southridge Mall store, which according to its Web site, will remain open. However the company will be closing the doors at its Cedar Rapids location. Steve & Barry’s filed for bankruptcy in July and was purchased earlier this year for $168 million by Bay Harbour Management and York Capital Management.

Wal-Mart Stores Inc. announced today that its CEO, Lee Scott, will retire and Mike Duke, vice chairman of Wal-Mart International, will succeed him. Duke was elected by the company’s board of directors and also appointed to the board. The transition is slated to take effect Feb. 1, and Scott will continue to serve as chairman of the executive committee of the board.

The Iowa Council for International Understanding (ICIU) will hold the second session of the 2008-2009 Iowa International Fellows Program today and tomorrow at Hotel Fort Des Moines. The theme of the session will be “Globalization and Economic Development,” and will include an open public forum on “Rising Powers: The New Global Reality” tonight at 5:30 p.m. at the Des Moines Central Library, which is co-sponsored by the Stanley Foundation and the Des Moines Public Library. Tomorrow, the Fellows will engage in a community service project with Greater Des Moines Habitat for Humanity.

Iowa Telecommunications Services Inc. announced today that it will acquire substantially all of the assets of Big Lake, Minn.-based Sherburne Tele Systems Inc. for $80.6 million, subject to certain balance sheet and tax adjustments. Sherburne is a closely held telecommunications company that serves nine communities in the Minneapolis-St. Paul metropolitan area.

ING Groep NV has agreed to pay 365 million euros ($455 million) in compensation to customers it overcharged for insurance policy premiums, ING and a settlement group said today. The company said in a statement that its Dutch insurance subsidiaries will offer compensation to policyholders who were being charged more than an agreed maximum. The settlement, which is lower than the 500 million euros analysts had expected, will not have any material effect on ING’s fourth-quarter results as the company had already made provisions in earlier quarters, it said.