Principal expands into Argentina with joint venture ties
The Principal Financial Group announced expansion into Argentina selling life insurance pensions and annuities. It forms a joint venture with Qualitas Buenos Aires and sets up Principal International with local partners. it previously opened Spain in 1991 and Mexico in 1993 and has offices in Russia and Hong Kong with plans for Indonesia later this year.
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Rain and hail hit Iowa crops as odds favor replanting efforts
Iowa farmers saw scattered hail and high winds after a rain boost, damaging thousands of acres of emerging corn and soybeans in central and north central Iowa. Farmers report weed issues due to prior dryness and mud hindering cultivation. The Iowa Agricultural Statistics Office notes crop conditions mostly good to excellent, with ongoing replanting and moisture considerations across the state.
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Boeing 777 achieves near flawless debut flight
Boeing 777 completed a three hour 48 minute test flight with minor glitches and no passengers beyond crew. Captain John Cashman called the flight near perfect as Boeing showcases a new jumbo jet amid 147 orders and a price range of 116 to 146 million dollars.
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Stocks mixed as rates rise and ties to cycle firms boost Dow
The Dow Jones Industrial Average rose 9.67 to 3783.12 as big caps led gains while smaller stocks fell. Eastern Iowa list shows 15 up, 16 down, 12 unchanged with International Paper up 1 percent and Heartland Express down 1 to 30. US bonds slipped as rates climbed amid inflation fears from European markets and Fed comments. Exxon declined 2 percent amid spill-related blame. PepsiCo and Coca-Cola moved on quarterly guidance and pricing worries.
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