Oakdale-based independent broker-dealer Woodbury Financial Services has agreed to be purchased by New York-based insurance giant American International Group, Inc. (AIG). Woodbury Financial, a subsidiary of The Hartford Hartford Financial Services Group, Inc., will now become a part of AIG subsidiary Advisor Group.

Warren Buffett's Berkshire Hathaway Inc. is eyeing a $374 billion mortgage-servicing portfolio of Residential Capital LLC. The bankrupt lending unit, a subsidiary of government-owned Ally Financial, filed for Chapter 11 protection in May. Dow Jones News Wires reports Minnesota-based ResCap already has a proposed agreement to sell the mortgage unit to NationStar Mortgage Holdings Inc. Berkshire says it will match the $2.4 billion bid, but offer a lower breakup fee.

Fitness is its own reward, right? Then again, an extra hundred bucks wouldn't hurt. Blue Cross and Blue Shield will offer financial incentives to members who don't smoke and meet certain targets for cholesterol, blood pressure, and body mass index.

Now that the federal health care overhaul has been mostly upheld by the U.S. Supreme Court, Minnesota officials are working fast to design a online health insurance marketplace for people to enter basic information, learn whether they qualify for subsidies, compare the options and buy a policy.

Stearns Bank agreed to take over Covenant Bank & Trust after regulators shut it down Friday. The nationwide tally of bank failures is now 15 for the year, including two in Minnesota.

The parent company of six radio stations in the Fargo-Moorhead area is being sold to Midwest Communications in Wausau. The family-owned company already owns 47 radio stations in Wisconsin, Minnesota, Michigan, Illinois and Indiana. The deal is still pending FCC approval.

The Bloomington location will begin operating as a Fairview clinic this month. The Minneapolis clinic, which was destroyed by fire earlier this year, will re-open as a Fairview clinic in the spring.

Minnetonka-based UnitedHealth Group Inc. is acquiring a 90 percent stake in Amil Participacoes SA, based in Rio de Janeiro, the Associated Press reports. The largest U.S. health insurer has agreed to pay about $4.9 billion in cash to complete the deal.