Mergers and acquisitions
Park State Bank to buy 3 bank offices
Park State Bank, Duluth, a subsidiary of Park Financial Group Inc. based in Minneapolis, announced that it is purchasing Pioneer National Bank and its three offices in Duluth. Pioneer's corporate roots date to 1857 and it has approximately $82 million in total assets. The purchase is subject to regulatory approval and is expected to close in the first quarter of 2018. Park Financial was represented by Golden Valley-based Oak Ridge Financial.
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Business
Iran's Raisi inaugurates project in Sri Lanka, says West doesn't hog knowledge and technology
Iranian President Ebrahim Raisi said his country has proven the West doesn't have a monopoly on technology while inaugurating a hydropower and irrigation project in Sri Lanka on Wednesday.
Business
Surging auto insurance rates squeeze drivers, fuel inflation
Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation.
Local
Two stalled Duluth housing projects move ahead
Together, the projects will add more than 250 apartments to city's inventory.
Business
Cisco Systems joins Microsoft, IBM in Vatican pledge to ensure ethical use and development of AI
Tech giant Cisco Systems on Wednesday joined Microsoft and IBM in signing onto a Vatican-sponsored pledge to ensure artificial intelligence is developed and used ethically and to benefit the common good.
Business
German retirees will get an inflation-busting pension increase this year
Germany's Cabinet on Wednesday approved a 4.57% rise in retirees' pensions from this summer, well above the current rate of inflation.
