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Wells Fargo & Co. has added Banco De Oro Unibank Inc. to its ExpressSend remittance network in the Philippines.
The move triples Wells’ payout locations in that country to more than 2,800 branches.
“We understand how important remittances are to the Philippines,” says Daniel Ayala, executive vice president and head of Wells Fargo’s global remittance services. “By […]

President Barack Obama proposed spending $50 billion on infrastructure projects in an effort to spur job creation during his speech at Laborfest in Milwaukee.
The six-year program would include rebuilding 150,000 miles of roads, 150 miles of airport runways and either building or refurbishing 4,000 miles of railroad. The infrastructure plan would not increase the national […]

MobileIron has completed a $16 million Series C round of financing led by Paul Holland, general partner with Foundation Capital.
Menlo Park-based Foundation Capital joined existing investors Norwest Venture Partners, which has an office in Palo Alto, and Sequoia Capital and Storm Ventures, both of Menlo Park, in the financing.
Mountain View-based MobileIron makes software that manages […]

Juwi Group, a German developer of renewable-energy projects, is moving the headquarters of its U.S. wind business from Ohio to Boulder, Colorado Gov. Bill Ritter announced Monday.
The company’s U.S. solar division, Juwi Solar Inc., already is headquartered in Boulder and employs some 30 people there. The new Boulder headquarters of Juwi Wind U.S. Corp., which […]

1942 — Founded by Victor Hermelin and Bob Keith, both of St. Louis.
1947 — KV and its co-founders charged with shipping vitamin capsules that had less than the required amount of vitamins.
1950 — KV charged in a criminal complaint with shipping 51,000 vitamins whose ingredients were deficient.
1975 — Victor’s son, Marc […]

Greece arranged swap agreements with about 15 securities firms, including some payments from banks that may have helped hide the country’s true deficit, according to a person with direct knowledge of the contracts.
The swaps that allowed Greece to receive payments upfront date from before 2008, when European Union regulators changed rules to limit […]

Stocks rallied Thursday after the European Union’s promise to help debt-ridden Greece eased worries that a default might hurt global markets.
The Dow Jones industrial average (INDU) rose 106 points, or 1%. The S&P 500 index (SPX) gained 10 points, or 1.4% and the Nasdaq composite (COMP) added 29 points, or 1.4%.
Stocks slid in the […]

The state of Kentucky has begun accepting applications for an emergency extension of unemployment benefits.
President Obama signed the benefits extension into law on Nov. 6. It can provide as much as 14 additional weeks of federally funded benefits to unemployed Kentuckians who have exhausted their 26 weeks of state benefits and all other federally funded […]

The United Arab Emirates offered banks emergency support on Sunday, the first steps to ease fears that a looming debt default by two of Dubai’s flagship firms could derail the global economic recovery.
But the move to inject liquidity into Dubai’s banks by the central bank of the Gulf Arab state, together with promises by […]

Japanese officials are more likely focused on the exchange rate of the yen versus China’s yuan rather than against the dollar, according to Citigroup Inc., citing the fact that China is Japan’s biggest trading partner.
For this reason the level at which Japanese authorities may intervene to temper the yen’s gain will be at […]