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The US government filed two separate lawsuits against Bank of America relating to fraud on $850m of mortgage-backed securities. Our corresspondent in New York explains more.

Plus, lying in the ocean bed is a source of wealth that could transform the fortunes of the Cook Islands. The Finance Minister Mark Brown tells us how the country plans to mine the manganese nodules.

Is Chicago the new Detroit? One American academic warns that the 'Windy City' could go bankrupt in the next decade.

Walt Disney studios were hoping that their blockbuster revival of the Lone Ranger - with Johnny Depp as the man in the mask - would be be a box office hit. But, it looks unlikely. So we ask why some movies succeed whilst others flop.