In the News: Bank of America, Liz Taylor, Facebook and more

Bank of America slapped with U.S. lawsuit over billion-dollar "hustle" of Freddie Mac and Fannie Mae.

Elizabeth Taylor is Forbes' new Top-Earning Dead Celeb thanks to Christie's auction.

Apple's iPad mini already has a Chinese knock-off, while US judge says Samsung infringed four Apple patents.

Facebook wins back Wall Street, affirms social dominance and shares soar as looks to rebuild confidence.

AT&T beats estimates in latest quarterly earnings report.

BlackBerry loses grip as go-to phone for US federal government.

Buzzfeed taps Rdio for "social music advertising."

Cisco will fund 12,000 meals for World Food Program via Facebook app.

Tom Cruise sues gossip magazines for defamation of character.

Forbes launches new tagline and brand campaign.

Ford and GM look to outrun Europe's auto slump.

Gap moves away from global AOR agency model.

GE reportedly weighed bank takeover.

Goldman Sachs former exec gets two-year sentence, $5M fine for insider trading.

Google driverless car forces US regulators to reconsider road rules.

Kenya Doll toy brand targeting African American girls relaunches.

Kindle expands to Japanese language content.

Microsoft joins list of companies banning class-action suits.

Netflix US subscriber growth slows.

New York Times "satisfied" with incoming CEO, former BBC head Mark Thompson, despite Savile row.

NFL agrees to kid's suggestion for pink penalty flags for Breast Cancer Awareness support.

Nike sells Umbro soccer brand to Iconix for $225M.

P&G hopes solid earnings will end "soap opera" over CEO performance.

Rogers gains competitive edge in Canada.

Royal Bank of Canada will launch mobile wallet next month.

Salesforce sees hard times at social acquisitions Radian6 and Buddy Media.

Sun Life could sell US variable annuities business for $1B.

Donald Trump announces he'll donate $5 million to charity of Barack Obama's choice in return for records.

Visa names JPMorgan exec as CEO.

Zynga puts optimistic face on woes.

& China has a plan to rescue global solar industry.