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Banking & Finance

Toyota denies Blue Springs reports

The Nikkei, the Japanese version of the Wall Street Journal, is reporting that Toyota plans to resume construction of the plant in Blue Springs, with the hopes of opening it in the spring of 2011. The plant will initially produce the compact Corolla cars, and start producing the hybrid Prius later. Details are here. Magnolia Marketplace is burning up the phone ...

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Trustmark prices public offering

JACKSON — Trustmark Corporation has priced its public offering of 5,405,406 shares of common stock at $18.50 per share. Trustmark has also granted the underwriters a 30-day over-allotment option to purchase up to 810,810 additional shares of common stock. The offering will generate gross proceeds to the company of $100 million, without giving effect to the potential exercise of the ...

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Senators want country's aid stopped

WASHINGTON — Sen. Thad Cochran (R-Miss.) and Sen. Roger Wicker (R-Miss.) have joined in introducing a Senate resolution aimed at preventing the government of Antigua and Barbuda from receiving financial aid if it continues to hinder efforts to recover billions lost in the Stanford Financial Group fraud scandal. Despite the country’s continued refusal to cooperate in the Stanford investigation, the ...

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CMI continues to climb

COLUMBIA, Md. — Black Thursday has come and gone and the results are mixed. On the one hand there was much more traffic in the stores than last year, but the average consumer has been spending a bit less and more cautiously. The same pattern seems to have emerged in the business community, as indicated by the shifts in the ...

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State tops in auto loan delinquencies

During the third quarter, Mississippi had the highest auto loan delinquency rate in the nation, according to TransUnion.com’s analysis of trends in the auto lending industry. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data. Information for this analysis is culled quarterly from approximately 27 million ...

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Trustmark to offer common stock

JACKSON — Trustmark Corporation is making an underwritten public offering of approximately $100 million of its common stock. In connection with the offering, the underwriters will have a 30-day option to purchase up to an additional $15 million of common stock to cover over-allotments, if any. Upon completion of this offering, Trustmark intends to notify the U.S. Treasury of its ...

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Callon wraps up note exchange

NATCHEZ — Callon Petroleum Company has completed and released the results of its offer to exchange any and all of its outstanding 9.75 percent senior notes due 2010. The exchange offer, which was originally scheduled to expire Nov. 18 but was extended to allow time to complete qualification under the Trust Indenture Act, expired Nov. 23. The settlement date of ...

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Hancock Bank ranked again

GULFPORT — BauerFinancial Inc. has named Hancock Bank among America’s strongest, safest financial institutions for the 20th consecutive year. It places Hancock in the top 21 percent of more than 8,000 rated institutions. “It’s so important today to share some good banking news, and Hancock Bank makes that easy. Hancock Bank is a model community bank,” said BauerFinancial president Karen ...

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EBSA withdraws final rule

WASHINGTON — The Employee Benefits Security Administration (EBSA) has published a notice withdrawing the final rule on the provision of investment advice under the Employee Retirement Income Security Act’s prohibited transaction provisions. The regulatory action is expected to be published in the Nov. 20 edition of the “Federal Register.” The notice withdraws the Jan. 21, 2009, final rule that implemented ...

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Barbour proposes DBCF, SoS merger

JACKSON — The Department of Banking and Consumer Finance (DBCF) has mostly hummed along in obscurity, but it’s one of several agencies Gov. Haley Barbour has proposed for merger in his budget recommendation. Barbour wants the DBCF to become a part of Secretary of State Delbert Hosemann’s office, in a move Barbour says will eliminate duplication of services. Hosemann’s auditors ...

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