IBT Staff Reporter

Apple is facing a lot of pressure this year with Android beating the technology giant in several categories, including the top smartphone spot. However, Apple isn't one to give up easily and expectations are high that with iPhone 5 release Apple will regain its top position in a highly competitive smartphone jungle.

Jun 29, 2011

Carver Bancorp Inc raised $55 million in new equity capital from institutional investors, including Goldman Sachs , Morgan Stanley , Citigroup Inc and American Express , helping boost the bank's capital levels to meet regulatory requirements.

Jun 29, 2011

Critics share their views on Google's latest social network. Some see a promising future, some are skeptical.

Jun 29, 2011

The man who brought sexy back is the man behind the latest attempt at a Myspace revival.

Jun 29, 2011

The London Stock Exchange's C$3.6 billion ($3.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover.

Jun 29, 2011

Goldman Sachs Group Inc plans to lay off 230 employees in New York because of economic conditions, according to a state filing on Wednesday.

Jun 29, 2011

Wall Street closed its best three-day run in three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.

Jun 29, 2011

A man who recruited and charged some 200 Chinese nationals to join a fake U.S. Army Special Forces unit pleaded guilty and has been sentenced to prison Wednesday.

Jun 29, 2011

Hitachi Ltd <6501.T> wants to join the ongoing talks between Toshiba Corp <6502.T> and Sony Corp <6758.T> to combine their units that make small and mid-size LCD panels, the Nikkei business daily reported.

Jun 29, 2011

A grief expert told jurors in the Casey Anthony trial on Wednesday that people suffer in different ways and that young people grieve reluctantly.

Jun 29, 2011

If he was able to bring “SexyBack” maybe he’s got a shot at bring MySpace back too.

Jun 29, 2011

Wall Street rose on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt, but stocks were off their highs on profit taking after hefty gains this week.

Jun 29, 2011

Fewer cars on dealer lots and higher prices -- factors that led to disappointing U.S. auto sales in May -- look to hold June results in check.

Jun 29, 2011

Seeking to gain some control over the imploding scandal scarred CityTime timekeeping project which has billowed into a $700 million problem for taxpayers, Mayor Michael Bloomberg fired off an angry letter to the prime contractor demanding a hefty refund.

Jun 29, 2011

News Corp has agreed to sell social media site Myspace for about $35 million to online advertising company Specific Media, according to a source familiar with the transaction.

Jun 29, 2011

Clothing retailer Gap Inc will enter Africa this year, as part of an ongoing international push, with plans to open stores in Egypt and Morocco.

Jun 29, 2011

Flight attendants at United Continental Holdings , formed from the merger of United and Continental airlines, have selected the Association of Flight Attendants to bargain for their labor contracts, the AFA union said on Wednesday.

Jun 29, 2011

Ryan Cleary was released on a bail, having been diagnosed with Asperger's syndrome while in custody.

Jun 29, 2011

Wall Street closed its best three-day run in the past three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.

Jun 29, 2011

Observers trying to read the tea leaves in the secret negotiations between players and owners in both the National Basketball Association and the National Football League see signs of talks going in opposite directions today.

Jun 29, 2011

The authorities have intensified their efforts in pursuing the notorious hackers responsible for hacking SONY, the CIA, the US Senate, PBS, FOX, NATO and many more. LulzSec leader Sabu's identity has been suggested by numerous sources.

Jun 29, 2011

Wall Street closed its best three-day run in the past three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.

Jun 29, 2011

JPMorgan Chase & Co promoted Jeff Urwin, a former Bear Stearns & Co banker who became co-head of its North American investment banking business, to a new role heading global investment banking industry groups, capital markets and mergers and acquisitions.

Jun 29, 2011

Raymond James Financial Inc agreed to buy back $300 million of auction-rate securities and pay a $1.75 million fine to settle federal and state probes accusing the brokerage, one of the nation's largest, of misleading customers about the debt's safety.

Jun 29, 2011

A Hewlett Packard lawsuit against Oracle is a publicity stunt designed to blame Oracle for disruption that will happen when HP's Itanium chip-based server business comes to an end, Oracle said in a court filing.

Jun 29, 2011

Police in Brooklyn have surrounded a Flatlands liquor store where at least two gunmen have barricaded themselves in the store with at least one hostage.

Jun 29, 2011

Google+ looks a lot like Facebook; however, dig deeper and you'll see there's more than meets the eye.

Jun 29, 2011

Burma has banned Michelle Yeoh, the Chinese-Malaysian actress of Crouching, Tiger Hidden Dragon fame.

Jun 29, 2011

The latest rumors have reported Apple to offer its iPhone 3GS for free as it makes way for the launch of their upcoming iPhone 5. The iPhone 3GS will be given out for $0 if customers sign onto a two year contract. Consumers waiting for the iPhone 5 may not be an ideal target, but those who fall in the mid or low-range smartphone buyers market will find the offer enticing.

Jun 29, 2011