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US Stocks Close Higher After Yellen Talks Summer Rate Hike

iStock/Thinkstock(NEW YORK) -- Investors are starting to accept an impending interest rate increase ahead of the holiday weekend after comments from Fed Chair Janet Yellen helped Wall Street close slightly higher.The Dow jumped 44.93 (+0.25 percent) to close at 17,873.22.The Nasdaq gained 31.74 (+0.65 percent) to finish at 4,933.50, while the S&P pushed up 8.96 (+0.43 percent) to close at 2,099.06.There was little change for crude oil with prices remaining at about $49 a barrel.Federal Reser

Expect Interest Rate Increase 'Probably in the Coming Months,' Janet Yellen Says

Chip Somodevilla/Getty Images(CAMBRIDGE, Mass.) -- Another interest rate increase after December's hike may be coming sooner than investors think.Speaking at Harvard University on Friday where she received the Radcliffe Medal, Federal Reserve Chairwoman Janet Yellen hinted there could be an interest rate hike sometime this summer as long as the economy and the jobs market continued to grow.“It’s appropriate, and I have said this in the past, I think for the Fed to gradually and cauti

Verizon Strikes 4-Year Deal with Labor Unions

Spencer Platt/Getty Images(NEW YORK) -- Verizon Communications Inc. has struck a deal in principle with two unions for a four-year labor agreement, U.S. Secretary of Labor Thomas Perez said Friday.The workers will be back on the job next week, Perez said.“Today, I am pleased to announce that the parties have reached an agreement in principle on a four-year contract, resolving the open issues in the ongoing labor dispute between Verizon’s workers, unions, and management," Perez said i

Memorial Day Deals 2016: The Biggest Bargains of the Weekend

iStock/Thinkstock(NEW YORK) -- Memorial Day has become the unofficial start of summer. The entire weekend is also a big one for sales.ABC News' Becky Worley has a roundup of the best bargains of the weekend:AIR CONDITIONERS, GRILLS, CAMPING GEARWalmart: $76 off a Frigidaire window unit.Home Depot: Get 25 percent off select grills and patio furniture. You can also get this 7-piece patio furniture set for just $99.Lowe’s: A 4-burner grill is marked down to $169 -- that’s 15 percent low

Facebook and Microsoft's Atlantic Ocean Cable Boasts Highest Capacity Ever

the-lightwriter/iStock/Thinkstock(SAN FRANCISCO) -- Facebook and Microsoft are teaming up to lay an undersea cable system across the Atlantic Ocean that will deliver faster connections to online and cloud services from both companies.Construction of the cable, called MAREA, will begin in August, according to a statement from both companies, and is expected to be completed in October 2017. MAREA, which is the Spanish word for "tide," will span 4,100 miles from Virginia Beach, Virginia, to Bilbao

Microsoft, Facebook to Lay Massive Undersea Cable Across Atlantic

the-lightwriter/iStock/Thinkstock(SAN FRANCISCO) – Microsoft and Facebook announced plans on Thursday to lay a 4,000 mile cable underneath the Atlantic Ocean.The cable will be used to transmit data from Virginia Beach, Va. to a hub in Bilbao, Spain.Microsoft says the companies are teaming up to bolster Internet infrastructure and satisfy their customer’s increased demand for data capacity.The cable, which will be as wide as a common garden hose, will be able to transmit data at 160 t

Stocks Finish Mixed on Thursday

Songquan Deng/iStock/Thinkstock(NEW YORK) -- Following two days of big rallies, stocks were mixed on Thursday as many Americans start to think about the holiday weekend. The Dow lost 23.22 (+0.13%) to finish the session at 17,828.29.The NASDAQ picked up 6.88 (+0.14%) to close at 4,901.77, while the S&P 500 dropped 0.44 (+0.02%) to finish at 2,090.10. Crude oil dropped 0.48%, lowering the price of a barrel to $49.32Copyright © 2016, ABC Radio. All rights reserved.

Consumer Group Live Streams Reading of Terms and Conditions

iStock/Thinkstock(NEW YORK) -- The Norwegian Consumer Council live streamed a whopping almost 32 hours of various people reading the terms and conditions for a number of popular apps this week.The marathon broadcast began on Tuesday and extended into Wednesday. The purpose was to raise awareness about the contracts to which people agree through terms and conditions, though they often choose not to read the full disclaimers due to their length and heavy legal jargon.“We hope this can help p

WATCH: Inside Genius Headquarters

ABC News(NEW YORK) -- Tom Lehman and Ilan Zechory co-founded Genius (formerly Rap Genius) in 2009 after a discussion about song lyrics and music led them to the idea of a music annotation website.The two friends -- who describe each other as "BFFLs" (best friends for life) -- met during freshmen year at Yale University. Now, the co-founders attend couples therapy once a week to help keep their friendship -- and their business -- strong.Genius has become the web's largest collection of song lyric

Man's Letter Convinces American Airlines to Drop $200 Cancellation Fee

iStock/Thinkstock(NEW YORK) -- A New York man was able to convince American Airlines to waive a $200 fee this month, after writing them a letter that was too amusing to ignore."It was a complete surprise," Alex Hamberger, 30, of Buffalo told ABC News. "I didn’t think I would hear from them at all. I was really taken aback and really overwhelmed by the fact that someone on the other end read it and enjoyed it. So, it was so much more of a personal experience than I anticipated."Hamberger wa

AT&T Announces Changes to Prepaid GoPhone Plans

Wavebreak Media/Thinkstock(NEW YORK) — AT&T has good news for its prepaid customers. The company announced Wednesday that GoPhone users are about to receive an extra gigabyte of high-speed data.Under the new changes, the $45 option will be good for 3 gigabytes of data, while the $60 option will give customers 6 gigabytes. The wireless carrier says the extra data will come at no extra charge to new and existing prepaid customers. The changes take effect Friday.ABC Breaking News | Lates

Copies of Emancipation Proclamation, 13th Amendment Signed by Lincoln Sell for M

iStock/Thinkstock(NEW YORK) — Some of the most historical and consequential anti-slavery documents in U.S. history -- signed by President Abraham Lincoln -- fetched millions at auction.Copies of both the Emancipation Proclamation and the 13th Amendment sold for a total of more than $4 million by auction house Sotheby's on Wednesday.Our 'Two Centuries of American History' totaled $6.2 million, led by two documents signed by President Lincoln— Sotheby

Former Kansas corrections employee to stand trial in killing

GREAT BEND, Kan.  — A judge has found sufficient evidence for a former correctional employee to stand trial in a fatal western Kansas shooting. The Great Bend-Tribune reports the ruling was issued after Freddie Alec Thomas appeared in Barton C

Archaeologists search for location of Kansas graves

FORT LARNED, Kan.  — Archaeologists think they have a better idea of where bodies are buried near the Fort Larned National Historic Site in Kansas. The fort's history stretches back to 1859, when thousands of soldiers were stationed there

Hesston shooter investigation close to wrapping up

NEWTON, Kan.  -  The criminal investigation into the Feb. 25 mass shooting in Hesston is reaching its final stages. On Tuesday employees met with company leaders to discuss when the business will reopen and where workers can get counseling. Ha

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