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The iPhone 5 release frenzy has reached its zenith with barely hours left before Apple unveils the new gadget, but for the keener eye, the Tuesday event will be marked by how Apple lays out the iCloud and iOS 5. Many believe that being too engrossed with the specifications of upcoming iPhone 5 is equal to missing the wood for trees. The Tuesday event has more to do with Apple's long-term strategy than with gaining upper hand in the gadget market.

Starbucks announced Monday that it was teaming up with Opportunity Finance Network to launch Create Jobs for USA, which will pool donations for Starbucks customers, partners (employees) and concerned citizens into a nationwide fund for community business lending. This follows a trend that other companies, such as McDonald's, have taken to give back to the community while also boosting sales .

The state of California pulled out of multi-state mortgage negotiations with large U.S. banks, dealing a sharp blow to long-running efforts to secure a broad settlement over allegations of lending abuses.

The state of California pulled out of multi-state mortgage negotiations with large U.S. banks, dealing a sharp blow to long-running efforts to secure a broad settlement over allegations of lending abuses.

Bank of America (NYSE: BAC) would now charge a $5 monthly fee for debit card usage as Dodd-Frank Act's Durbin amendment would become effective Oct. 1.

The largest U.S. banks, eager to get legal protection after widespread evidence emerged of foreclosure shortcuts, are trying to convince California to be part of a multi-state mortgage settlement and not pursue its own aggressive deal.

Burger and ice cream chain Friendly's is close to filing for bankruptcy and may try to sell itself at auction, the Wall Street Journal reported on Thursday.

Burger and ice cream chain Friendly's is close to filing for bankruptcy and may try to sell itself at auction, the Wall Street Journal reported on Thursday.

Burger and ice cream chain Friendly's is close to filing for bankruptcy and may try to sell itself at auction, the Wall Street Journal reported on Thursday.

Bank of America will charge debit-card users $5 a month in response to new federal regulations that could cost the company up to $2 billion in annual revenue, it announced on Thursday.

Bank of America Corp. plans to impose a $5 monthly fee starting early next year on customers who make purchases on their debit cards.

Bank of America (BAC.N) Merrill Lynch has recruited three former Wells Fargo advisers and one former Morgan Stanley Smith Barney adviser to join its California, Connecticut and Wyoming offices, the firm said late on Monday.

While Euro officials did not reveal specific details about the Eurozone rescue plan, any apparent news about the continent’s debt woes seem to heavily impact equity markets.

Stocks were mixed in volatile trading on Monday as Eurozone officials played down reports of plans to slash Greece's debts and recapitalize European banks to cope with the fallout and after a decline in U.S. home sales.

Stocks plunged late Wednesday after the Federal Reserve announced it will sell $400 billion worth of short-maturity bonds and reinvest in bonds with maturities of six to 30 years in the coming year. The program has been commonly referred to as Operation Twist.

Moody's Corp on Wednesday cut the debt ratings of Bank of America Corp , Wells Fargo & Co and Citigroup Inc , three of the largest U.S. banks, on worries the government would be less likely to support a large lender if it got into trouble.

The stock price has been languishing for more than two years -- shares have lost almost half their value year-to-date.

In the second quarter of 2011, the bank lost an astounding $8.8-billion, partially due to the burden of its enormous mortgage/legal liabilities.

JPMorgan Chase & Co was sued by Wells Fargo & Co , which seeks to force it to buy back more than 800 soured mortgage loans that it oversees as trustee.

Redwood Trust, a California-based REIT, is about to launch its second private-label RMBS of the year, a US$375.2m prime-mortgage offering called Sequoia Mortgage Trust 2011-2 (SEMT 2011-2), according to a presale report released on Wednesday by Fitch Ratings.

Stock index futures pointed to a lower open on Thursday as data showed a weaker labor market ahead of a speech by U.S. President Barack Obama detailing his plan for jobs growth.

A lawsuit accusing several mortgage lenders of fraud over home loans maintained within the industry's private electronic database cannot proceed, according to a U.S. appeals court ruling.

Nvidia's stock has soared after the company's Chief Executive Jen-Hsun Huang outlines a strong fiscal outlook for next year.

State prosecutors accusing major U.S. banks of improper mortgage practices have offered them a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.

Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported on Tuesday.

U.S. employment growth ground to a halt in August as sagging consumer confidence discouraged already skittish U.S. businesses from hiring, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.

The U.S. wealth management industry is shrinking, losing legions of advisers, just as demand for their services is on the rise.

Large U.S. banks defending themselves against a mass of state and federal mortgage probes face a difficult tactical decision following New York state's exit from settlement talks on Tuesday.

Sprint may finally jump on the bandwagon and join its rivals in offering Apple's products, starting with none other than the iPhone 5. Bbut this may not prove to be such a boon to the No.3 U.S. carrier.