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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 Reserve: Speaking at Harvard University on Friday where she received the Radcliffe Medal, 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 cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate,” she said.

U.S. Economy: Also fueling a key interest rate raise, a revised report from the Commerce Department that showed there was stronger economic growth in the first-quarter compared to earlier predictions. The agency said the GDP grew 0.8 percent in Q1, above the previous estimate of 0.5 percent. Although consumer spending increased 1.9 percent, it was much lower than the fourth-quarter's 2.4 percent increase.

Verizon: After 13 days of negotiations, Verizon Communications Inc. reached a deal on Friday with two unions for a four-year labor agreement. According to U.S. Secretary of Labor Thomas Perez, the workers will be back on the job next week.

“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 in a statement Friday. "The parties are now working to reduce the agreement to writing, after which the proposal will be submitted to CWA and IBEW union members for ratification."

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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 cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate,” she said.

Despite signaling a possible rate hike, Yellen still remains cautious.

"One of the reasons I believe it's important to be cautious in raising interest rates is precisely because if we were to raise interest rates too steeply and we were to trigger a downturn or contribute to a downturn we have limited scope for responding and it is an important reason for caution," Yellen said.

Yellen's words echo recent comments made by other Fed officials the past week that have talked about a rate hike happening sometime this summer. Some have even suggested more than one interest rate increase before the end of the year, despite Wall Street expectations that the central bank would hold off.

The Fed will meet on June 14-15 and Yellen is scheduled to hold another speech in Philadelphia on June 6.

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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 in a statement Friday. "The parties are now working to reduce the agreement to writing, after which the proposal will be submitted to CWA and IBEW union members for ratification."

The deal was struck through 13 days of negotiations at the Department of Labor, Perez said, adding he has observed the parties' "good faith commitment to narrowing differences and forging and agreement."

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iStock/Thinkstock(NEW YORK) -- While holiday travelers enjoy their time off this Memorial Day weekend, crowding highways and airports across the country, aviation security will be put to the test.

"I don't think it'll be a summer of misery," Transportation Security Administration Administrator Peter Neffenger told ABC News Friday.

Despite the record number of passengers expected to take to the skies this summer, the TSA head says he's "cautiously optimistic" that the 768 new officers -- combined with a new command center that monitors checkpoint volume in real-time, airport by airport – should help the long lines passengers have been seeing at TSA checkpoints across the country.

Existing TSOs (Travel Security Officers) will also take on more hours: Homeland Security Sec. Jeh Johnson on Thursday submitted a request to Congress to transition 2,784 Transportation Security Officers from part-time to full time -- a step that Johnson said would allow an additional 82,000 passengers to be screened per day.

Lawmakers have been calling for airlines to help ease wait times by eliminating bag fees, which they say force passengers to travel with carry-on bags, rather than checking their luggage.

On Friday, Neffenger told ABC News “that option has to be on the table,” but clarified that “it’s unclear to me how much that impact would be.”

Lawmakers say TSA data indicates that checkpoints serving carriers that charge for bags see 27 percent more roller bags than checkpoints serving carriers that allow passengers to check bags for free.

“Extra carry-on bags is a challenge,” Neffenger acknowledged.

His No. 1 tip to travelers looking to avoid long waits? Enroll in PreCheck or another "trusted traveler program." Roughly 92 percent of PreCheck members stand in line five minutes or less.


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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 GEAR

Walmart: $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 lower than the lowest price Worley could find online.

Cabela’s: Get camping gear, back packs and sleeping bags for 20 percent off.

MATTRESSES

Memorial Day is considered the best time to buy a mattress. Deals can be had at department stores and specialty mattress retailers, but here’s a tip: There are slew of online mattress companies in business now and they are putting pressure on traditional mattress companies, forcing even more competitive prices.

VACUUM CLEANERS

There are vacuum cleaner sales everywhere. You can get them 25 to 35 percent off at Best Buy, Sears and Target.

CLOTHES

Check with your local store to see if the below deals are available in-store or only online.

The Children’s Place: 50 percent off children’s clothing sitewide at The Children’s Place, Carter’s and OshKosh B’gosh.

Reebok: 20 percent off sitewide using coupon code MEMDAY

Banana Republic: 40 percent off entire purchase online using code BRTAKE40

J. Crew: Extra 30 percent off with code WEEKEND

Land’s End: 50 percent off select swimwear using coupon code STARS

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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 on the northern coast of Spain.

MAREA will take a southern route away from most existing transatlantic cables, which begin in New York and New Jersey. Being separate from other cables will ensure the super high-speed cable is "more resilient and reliable," according to a blog post from Microsoft.

The cable will have the ability to transmit as much as 160 terabytes per second, making it the highest capacity cable of its kind to be laid under the ocean, according to both companies. By comparison, in 2014 Google joined forces with five other companies to build an approximately 5,600-mile undersea cable system spanning the Pacific Ocean, with an initial capacity targeted at 60 terabytes per second.

While the project is built on a collaboration between Facebook and Microsoft, the cable will be operated by Telxius, a unit of Telefónica, a Spanish telecommunications company. Under the agreement, Telxius will also sell capacity to other companies.

Microsoft representatives said in a blog post the company is seeing increased demand for "high speed, reliable connections" for the company's cloud services, along with Bing, Skype, Xbox Live and other products.

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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 $49.32

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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 put the spotlight on a failing contract regime. Few, if anyone, have the time and opportunity to familiarize themselves with what they actually click ‘OK’ to," Finn Myrstad, head of digital services at the Norwegian Consumer Council, said in a statement.

“When we also know that apps often take away our rights by granting themselves the power to unilaterally amend the contract and licensing themselves to track, store and sell on user content, it is self-evident that consumers are put at a disadvantage," he said.

The issue is universal, though the group is from Norway. They said the average Norwegian has 33 apps on their smartphone, so they selected the same number of popular apps for the terms and conditions reading.

The council estimates the average number of words used in the terms, conditions and privacy policies of many apps easily exceed 250,000. When the marathon live stream was completed, the group signed off after a staggering 31 hours and 49 minutes.

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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 lyrics and crowdsourced musical knowledge, where anyone from Selena Gomez to your next-door neighbor can contribute and annotate musical lyrics as well as literature, politics, sports and any page on the internet.

Genius contributors are ranked by their "Genius IQ score,” which represents their knowledge of a topic.

Lehman and Zechory recently joined Rebecca Jarvis on “Real Biz With Rebecca Jarvis” for a conversation about the inspiration behind Genius, growing a successful start-up with your BFFL and choosing company values. Watch the interview below:

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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 was booked on a flight to Kansas City, Missouri on March 7 to visit his sister, brother-in-law and niece, but fell ill days before.

After his doctor advised him not to travel, Hamberger called to cancel his flight. American Airlines informed him he would be charged a $200 fee.

Later, on April 4, Hamberger called the airline to change his flight to a different date.

"When I spoke with the representative I said, 'I had to cancel that trip because I was sick. Is there anyway I can get that fee waived?'" he explained.

But, as it turned out, he would have to send in an explanation by mail.

"I was just going to write a letter and send in the doctor's note. That's when I had the idea to take it a little further and get a little creative with it," he said.

On April 24, Hamberger sent his doctor's note to American Airlines, along with a witty letter. It read, in part:

“Dear Most Kind and Benevolent American Airlines Customer Service Staff Member, I write to you with the hopes that you may take mercy on me and afford a little sympathy for this flyer who was taken quite ill and had to postpone his trip to see his beloved niece.”

Hamberger described how he began to feel sick before his trip: “It was a Monday night and I was getting so excited for my upcoming trip to visit my sister, brother-in-law, and niece who was about to turn 6 months old that Thursday! I started to feel a little sinus pressure that night, nothing major but enough to give me pause.”

He went on to explain in the letter that, when he subsequently visited the doctor, he was surprised by the news that what he thought were mild symptoms were actually much more serious:

“It was just two days later on March 4th, that I learned this infectious disease was not a household cold or flu: it ws a Haemophilus Influenzae bacterial infection. Yes, the same infection that can cause conditions such as epiglottitis (a fatal respiratory disease), pneumonia, and notably, meningitis in children under 5. Remember when I mentioned I was going to visit my 6 month old niece?! Thank heavens I didn’t!”

He was glad for the diagnosis and explained that, “canceling my trip to visit my infant niece was the best thing that could have happened; had I visited her and she gotten sick, it literally could have killed her.”

"Now, I don’t know if this will be problematic or not, but I just recently rebooked my trip and I’ve already paid the $200 change fee," he continued in the letter. "So I now realize there may be 356 reasons you can’t refund this to me, but I figure it’s always worth a shot! If it’s possible in any way to recoup this $200 I’d be forever grateful."

He went on to assure the person who would read the letter that he was not on of the “testy and ornery travelers” they must deal with and thanked the airline for “all you do to make the travel dreams of flyers such as myself a reality.”

He signed off:

Alex Hamberger
-Frequent Flyer
-Brother
-Uncle
-Formerly sick person
-Currently healthy person
-Grateful flyer


On May 6, Hamberger received a response from American Airlines, informing him that they'd be waving the $200 fee.

"Thank you for your letter to Customer Relations, I enjoyed reading it," an airline representative wrote to Hamberger in an email. "I'm glad you are 'formerly sick' and 'currently healthy' to make plans to see your precious niece. She sure is a lucky little girl to have such a loving Uncle Al! I have authorized a waiver of the $200.00 change charge."

Hamberger said the gesture restored his faith in humanity.

"It's nice to get the $200 back, but it was really more about taking a chance and hoping to make a nice connection with them," he said. "I truly thought, if someone at the office at American opens up and it puts a smile on their face, that to me was really special."

Hamberger will be flying out to Kansas City Thursday, to spend five days of quality time with his family.

"We are proud to provide excellent customer service to all American Airlines customers," a spokesperson for American Airlines wrote to ABC News. "Our customer relations team found his note very compelling, and we were happy to assist Mr. Hamberger."

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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.


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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 pic.twitter.com/KD2QafcgiX

— Sotheby's (@Sothebys) May 25, 2016

 

Sotheby's initially hoped the documents signed by the 16th president would fetch $5 million at auction.

The 13th Amendment, which sold for $2.4 million, was one of the 14 copies signed by Lincoln Feb. 1, 1865, according to Sotheby's. It's also one of three "Senate copies" that are signed by the vice president and 36 senators.

The amendment abolished slavery, stating that "neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist with the United States."

 

Our 'Two Centuries of American History' totaled $6.2 million, led by two documents signed by President Lincoln pic.twitter.com/KD2QafcgiX

— Sotheby's (@Sothebys) May 25, 2016

 

The amendment was ratified in December 1865, roughly six months after the Civil War ended. But Lincoln was assassinated in April and didn't live long enough to actually see the enacted into law.

Sotheby's copy of the Emancipation Proclamation, a limited edition print, sold for $2.17 million by a telephone bidder. It was not an original, even though it was signed by Lincoln and Secretary of State William Seward.

 

#AuctionUpdate One of three ‘Senate’ copies, the 13th Amendment signed by President Lincoln achieves $2.4 million pic.twitter.com/jlhi9yVqXd

— Sotheby's (@Sothebys) May 25, 2016

 

The document is one of 27 surviving copies of the original 48, according to Sotheby's.

Lincoln signed the original Emancipation Proclamation Jan. 1, 1863, the third year of the Civil War, declaring "that all persons held as slaves" within the Confederacy "are, and henceforward shall be free."

The proclamation allowed liberated slaves to serve in the Union Army and Navy.

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iStock/Thinkstock(WASHINGTON) — Jobless claims slumped lower last week, decreasing by 10,000, according to the latest figures released Thursday by the Labor Department.

For the week ending May 21, the number of people filing for benefits fell to 268,000. The previous week, claims stood at an unrevised level of 278,000.

The Labor Department said there were no "special factors" impacting that week's figures.

The four-week moving average, however, increased by 2,750, to 278,500.

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iStock/Thinkstock(BRILLION, Wis.) -- An Islamic advocacy group representing former Muslim employees at a Wisconsin equipment company filed a discrimination complaint against the firm Tuesday because employees can no longer take prayer breaks at times that are in accordance with their religion. A letter accompanying the complaint claims employees were discriminated and retaliated against on the basis of their religion, national origin and race.

According to the letter, Ariens Co., which manufactures snowblowers and lawn tractors in Brillion, Wisconsin, used to allow Muslim employees to take prayer breaks one at a time after notifying and receiving permission from a supervisor. Employees say they had been able to take those breaks at the traditional times for Muslims. However, the employees claim the company began enforcing a new policy beginning on Jan. 25 that permitted only two pre-determined 10-minute breaks per work shift with no additional accommodations for prayer outside of those break times. Dozens of Somali Muslim employees at the company have protested the new break policy, and 15 of them are now represented by attorneys at the Council on American Islamic Relations, or CAIR, which submitted the charges of discrimination with the Milwaukee office of the U.S. Equal Employment Opportunity Commission.

Dozens of Somali Muslim employees at the company have protested the new break policy, and 15 of them are now represented by attorneys at the Council on American Islamic Relations, or CAIR, which submitted the charges of discrimination with the Milwaukee office of the U.S. Equal Employment Opportunity Commission.

“These individuals had direct and personal conversations with management in which they stated that they wanted to continue their employment with Ariens, but felt that they were no longer welcome and being forced out because of the company’s new policy,” CAIR wrote in a letter that accompanied its religious discrimination complaint to the Equal Employment Opportunity Commission, or EEOC.

Title VII of the Civil Rights Act of 1964 prohibits employment discrimination based on religion and requires employers to accommodate religious beliefs. In keeping with their Islamic faith, practicing Muslims pray five times each day. But Ariens management allegedly threatened to fire those employees who continued to pray beyond the scheduled breaks or who had requested an accommodation to pray. Seven Muslim employees were let go earlier this year, while 14 others resigned over the dispute.

“The outright refusal to entertain, discuss, or offer any reasonable religious accommodation options that would resolve the alleged workplace conflict is unacceptable and inconsistent with prevailing Title VII law and EEOC guidelines,” CAIR said in the letter.

Maha Sayed, an attorney for the Washington, D.C., based organization, said it could take several months for federal officials to investigate the employees’ claims. The EEOC could also offer to mediate the dispute during the investigation, or the two parties could voluntarily settle it the claim.

“If the EEOC concludes that there is reasonable cause to believe that discrimination occurred, it may decide to litigate the case itself in federal court or issue the charging party a Notice of Right to Sue letter, which allows the party to file a federal lawsuit within 90 days,” Sayed told ABC News in an email Wednesday.

Ariens Co. spokesperson Ann Stilp said the complaint was “disappointing news.”

“We have had Muslim employees working for the company for nine years. We currently have more than 27 Muslim employees who continue to work here and we continue to accommodate them with prayer rooms,” Stilp told ABC News in a statement.

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iStock/Thinkstock(NEW YORK) -- U.S. stocks closed higher for the second day in a row Wednesday following a jump in oil prices on a crude inventories decline.

The Dow soared 145.46 ( 0.82 percent) to close at 17,851.51.

The Nasdaq increased 33.84 ( 0.70 percent) to finish at 4,894.89, while the S&P gained 14.48 ( 0.70 percent) to close at 2,090.54.

Crude oil climbed 2.12 percent, with prices reaching $49.65 a barrel.

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