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Wednesday A.M. Report

U.S. Bancorp reports record Q2 revenue of $4.5 billion: U.S. Bancorp today reported $766 million, or 45 cents per share, net income for the second quarter of 2010, 62.6 percent higher than the $471 million, 12 cents per share, for the second quarter of 2009. Earnings were boosted a nickle in the second quarter of this year due to a non-recurring exchange of preferred stock for outstanding income trust securities. The Minneapolis-based bank also said in a press release that it achieved record total net revenue of $4.519 billion, “the result of strong year-over-year growth in both net interest income and fee revenue.” Read full story

Clear Channel donates KFXN-AM 690, The Score, to minority group: Clear Channel Radio has donated KFXN AM-690, The Score, to the Minority Media and Telecommunications Council as part of the two organizations’ joint program aimed at increasing minority ownership and management of broadcast properties. The Washington, D.C.-based council, a nonprofit, will now work to screen and select minority candidates who could best serve their respective communities. Read full story

Survey: Mauer No. 3 most marketable major-leaguer: Minnesota Twins catcher Joe Mauer is the third-most marketable player in Major League Baseball, according to an exclusive survey of sports business execs and media personalities conducted by SportsBusiness Daily. Mauer, the reigning American League Most Valuable Player, appeared on 34 out of 49 ballots, including two first-place votes. Read full story

Wings Financial Federal Credit Union merging with City-County Federal Credit Union: Wings Financial Credit Union, the largest and most profitable credit union in the Twin Cities, is merging with struggling City-County Federal Credit Union, the least-capitalized credit union in the area. The merger has received preliminary approval from both the federal National Credit Union Administration and the Minnesota Department of Commerce, with final approval expected later this summer. Read full story

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