iStock/Thinkstock(NEW YORK) -- Losses in the tech sector, despite positive earnings from Facebook and Amazon.com, pushed U.S. stocks to close the week off in the red.
The Dow dropped 56.57 (0.32 percent) to close at 17,774.19.
The tech-heavy Nasdaq pushed down 29.93 (0.62 percent) to finish at 4,775.36, logging 2 percent losses for the month. The S&P fell 10.51(0.51 percent) to close at 2,065.30.
Crude oil closed flat with prices remaining around $46 a barrel.
Tech Earnings: A tech sell-off continued Friday, led by disappointing earnings from Apple and Microsoft this week. Not even Facebook and Amazon.com's quarter one reports that defeated investors' estimates could save the tech sector from having its worst weekly loss since February.
Facebook and Amazon boasted stronger-than-expected growth and profits this week with Amazon doubling investors' net income estimates of 58 cents per share, by posting $1.07 for the quarter. Both stocks finished in the green on Friday with Amazon soaring nearly 10 percent at the close.
Apple: Apple continued its slide after billionaire investor Carl Icahn said Thursday he had sold his entire stake in the company because of worries about China sales. In its fiscal second quarter report, Apple said sales sunk 26 percent in China as the iPhone 6s failed to achieve the success of the iPhone 6 and iPhone 6 Plus. In an interview with CNBC, Icahn said he "no longer [had] a position in Apple" because of China's attitude toward the company.
"You worry a little bit — and maybe more than a little — about China's attitude," Icahn told CNBC, saying China's government could "come in and make it very difficult for Apple to sell there."
According to FactSet, Icahn's investment firm owned 45.8 million Apple shares at the end of December.
Rolls-Royce(NEW YORK) -- Rolls-Royce owners now have the luxury of matching their luggage with their vehicle.
The automaker has unveiled the Wraith Luggage Collection, a nearly $46,000 luggage set meant to "complement" the Rolls-Royce Wraith.
"As the world leader in the art of true luxury conveyance, Rolls-Royce Motor Cars has extended its expertise to design a suite of elegant luggage to complement Wraith, the most powerful Rolls-Royce ever created," the automaker said in a statement.
The six-piece collection, designed by Rolls-Royce Bespoke Design Studio, includes a "Garment Carrier," two "Grand Tourer" valises, and three "Long Weekender" bags.
According to Rolls-Royce, experts "accustomed to handling discerning individuals’ luggage" were brought in to assist the design team.
"The design team conversed with Head Butlers from some of the world’s most illustrious hotels, who offered insight into the interaction between guests and their belongings," Rolls-Royce said. "Luggage is not only seen as an expression of style, but also as a wardrobe from home, increasingly important as entrepreneurs and captains of industry adopt a more transient lifestyle."
Buyers can choose between a mono or two-tone leather finish, hand-stitched "using the same colour thread as featured in the owner's motor car and lined with a monogrammed lining discreetly featuring the Rolls-Royce emblem."
The Wraith Luggage Collection can be yours for $45,854, but if you're not in love with the set, you can purchase pieces separately.
Chris Jackson/Getty Images(NEW YORK) -- Governments are asking Facebook for more data than ever before, according to the company's bi-annual Global Government Requests report.
"Overall, we continue to see an increase globally in government requests for user data and content restrictions pursuant to local law," Chris Sonderby, Facebook's deputy general counsel said in a blog post.
Global government requests for account data increased by 12 percent in the second half of 2015 -- from 41,214 requests to 46,763. Facebook is also including non-disclosure orders in the report and said approximately 60 percent of the requests the company received from law enforcement in the United States contained provisions that prohibited Facebook from notifying a user.
"As we have emphasized many times, Facebook does not provide any government with 'back doors' or direct access to people’s data," Sonderby wrote. "We scrutinize each request for user data we receive for legal sufficiency, no matter which country is making the request. If a request appears to be deficient or overly broad, we push back hard and will fight in court, if necessary."
Facebook received "0 to 499" requests relating to national security in the United States, according to the report, which adds the company is bound to report this data in bands of 500. They received 19,235 total requests in the United States.
Facebook produced at least some user data in more than 81 percent of the cases where the U.S. government made a request.
Justin Sullivan/Getty Images(FERGUSON, Mo.) -- Starbucks has opened its first store in Ferguson, Missouri, as part of a national push to help lower-income communities.
In a statement, Starbucks said it was planning "to provide local jobs, create training opportunities for youth, and support efforts to rebuild and revitalize communities" in at least 15 other new locations in low-to-medium-income communities in the U.S. by 2018.
“We have always seen investments in the communities where Starbucks partners live and serve as investments in our business and brand," said Rodney Hines, Starbucks director of Community Investments for U.S. Retail Operations, in a statement. "As we got to know the Ferguson community over the last year, we heard incredible stories of strength, empathy and understanding. We also heard loud and clear the need for business leadership and investment in the form of new jobs and training opportunities, particularly for young people."
Ferguson Mayor James Knowles III said the city was "grateful to Starbucks."
"The City of Ferguson and the greater North County region have both obstacles to overcome, but also great potential," he said. "Starbucks has shown their commitment to this region by helping our young people with much needed job training, as well as their commitment to the greater business community by partnering with local entrepreneurs to deliver great services and products to our citizens."
The new store will be located at West Florissant and Somerset in Ferguson, and will feature both a café and drive-thru. According to Starbucks, 30 employees have been hired with most being from the Ferguson or greater St. Louis areas.
In 2014, Ferguson made headlines after the police shooting death of Michael Brown, which sparked tensions between the community and police, and led to mass protests.
Google(NEW YORK) -- Google will once again live-stream the Republican National Convention and provide a host of services, despite pressure from activists to pull out of the convention.
Representatives from groups such as CREDO Action and UltraViolet Action are running petitions urging Google to end its participation.
"Plain and simple - Donald Trump, the prospective Republican Party nominee, has lobbed racist, sexist and xenophobic attacks against entire groups of people, encouraged violence and vitriol against his political enemies and perpetuated a culture of violence against women throughout his campaign," said Karin Roland, chief campaigns officer for UltraViolet action, a women's activist group. "We are saddened to see Google not only eagerly align themselves with these values, but to actively work to promote them via their live-stream capabilities."
Google will live-stream the July 18-21 convention as it did four years ago. Google's participation is said to be nonpartisan and similar to that of a media partner. The search giant will also provide information, such as Google Trends and real-time updates, as the convention takes place. It was not immediately known whether Google will do the same at the Democratic convention, although the company has had a presence there in years past.
Other companies have also been under fire for their role in supporting the GOP convention. Companies typically partner with conventions to provide support or to publicize their brand. The New York Times reported in March that Coca-Cola had scaled back its support of the convention compared to the company's contribution in 2012.
moodboard/Thinkstock(NEW YORK) -- American consumers dipped into their pockets a bit more last month.
Consumer spending rose 0.1 percent in March, the Commerce Department reported on Friday, following a recent string of lackluster months. Americans mostly bought nondurable items, like clothing and food, offsetting a drop in spending on cars and other long-lasting goods.
Incomes, meanwhile, shot up 0.4 percent last month.
The increase in income and small gain in spending led to a jump in the rate of personal saving to its highest level in a year. Economists hope consumers will put those savings to work in coming months.
Keith Beaty/Toronto Star via Getty Images(NORWALK, Conn.) -- The Chief Executive Officer of the Priceline Group Darren Huston has resigned from the company.
A statement released by Priceline Thursday says Huston resigned after an investigation conducted by independent members of the Board of Directors into a personal relationship that Huston had with an employee of the company who did not work directly under him.
The outcome of the invstigation showed that Huston had not followed the company's code of conduct. Huston acknowledged his actions and expressed his deepest regret.
"I am satisfied with the Board's thorough review of this issue," James M. Guyette, Lead Independent Director, said. "The performance of the business under Darren has been strong, and the company is very well-positioned to continue executing on its strategy for growth. Jeff is deeply familiar with the company's strategy and leadership team, which consists of highly accomplished entrepreneurs and seasoned professional executives with long-tenure in the business. We are confident the company is in strong hands while we conduct a search for a new CEO."
According to the statement, Priceline appointed former CEO and current chariman Jeffery H. Boyd as Huston's temporary replacement while the board works to find Huston's successor.
Hemera/Thinkstock(NEW YORK) -- Wedding season is upon us, which means it’s time to start thinking about the best gifts for the bride and groom.
Good Housekeeping Institute’s chief technologist Rachel Rothman joined Good Morning America's "Wide World of Weddings" live stream to help our viewers create the ultimate registry guide of must-have items for the home. Rothman’s Tips on How to Best Build a Registry:
Stay true to yourself: Don’t feel obligated to register for things you know you won’t use. But do think ahead. It’s likely your family and needs will grow.
Make sure to register for more items than people you’re inviting: It will give them more flexibility when picking a gift. Also, make sure you hit a lot of varied price points. You want to have plenty of items priced under $50 (sometimes friends or colleagues who are not attending may want to get you a smaller trinket). And register at two to four venues to likewise give guests multiple choices.
Go to the store if you can: There are some items you’ll want to touch and feel before deciding if they're the ones you’ll want. Utensils are a good example of that.
Scope out the stores you want to register at: Make sure their gift-buying process will suit your crowd (How many physical locations? Can guests order by phone and online?) and see what perks they may offer (Example: a completion program that will offer a 10 to 15 percent discount on fulfillment of items not selected). Browse registries of peer newlyweds: You can see what other guests bought (or didn’t) so you’ll get a general idea of things you may want to stay away from. It may also help spark some ideas for your own!
Keep track of your gifts: Some registries offer online tools for managing it, but I personally found maintaining my own to be far simpler.
Rothman’s Top Wedding Gifts to Register for:
Mixer: KitchenAid Artisan Stand Mixer, $430 Nothing beats this kitchen staple for mixing cakes or kneading loaves, which also has optional attachments like a pasta maker, an ice cream freezer, and even a spiralizer. Note: You don’t need a stand mixer if you only dabble in baking. If you do a lot, it’s indispensable.
Dutch Oven: Le Creuset Round Dutch Oven, 4 ½ Quarts, $290 Made of enameled cast iron, it’s the perfect go-to for soups, pot roasts and even no-knead bread! It’s beautiful and practical and can take you from stove top into oven to a table.
Knives: Wüsthof Classic, from $50 Big knife blocks look impressive, but all anyone really needs is a general-purpose knife like a chef’s/cook’s knife (or the Japanese type, a Santoku); a serrated bread slicer; and a parer. These earned top marks for sharpness and for feeling like an extension of the hand. Note: Most important thing when buying knives is to physically hold in your hand first -– comfort is paramount.
Wine Glasses: Riedel O Wine Tumblers, $30 for 2 Perfect for casual entertaining, these stemless wine glasses are perfect for any type of wine from chardonnay to pinot noir. The best part? These are dishwasher safe. Note: You’ll notice a difference if you don’t use the glass for the type of wine it was designed for.
Trash Can: SimpleHuman 45-Litre Rectangular Step Can with Liner Pocket, $130 When you’re talking trash, SimpleHuman’s stylish workhorse is at the top of the heap. Extra bags can be tucked into its back pocket so you can each inside to grab a fresh one. Rothman loves its soft-close lid, drip tray and fingerprint-proof finish for easy cleaning.
Genius Speaker: Jammbox, $130 With this in your purse, you can have a dance party wherever you are. Listening to Beyoncé on the beach and your phone rings? Answer with the built-in Bluetooth speakerphone! It’s also great around the house, since you can easily carry it from room to room.
Top Towels: JCPenney Royal Velvet Egyptian Cotton Bath Towels, $18 These Green Good Housekeeping Seal holder ultra-plush towels offer great absorbency and color retention.
Vacuum: Dyson V6 Absolute, $600 This cord-free Good Housekeeping Seal holder is a perfect combo hand and stick vac with two-brush heads and multiple tools that make it a cinch to clean carpet, bare floors, and stairs. Uprights are best for homes that are mostly carpeted, while canisters excel on stairs and mixed flooring. Select one with a power nozzle brush that can be switched on to deep-clean carpets and off for bare floors. Combo stick and hand vacs are great for quick cleanups. Look for long run time and easy storage. Compact models are ideal for small spaces. Allergies? Opt for a model with a bag (vs. a bagless one) and a HEPA filter.
Coffee Maker: Nespresso Evoluo Deluxe Coffemaker, $250 Get the gift of perfect coffee every time. With the Nespresso, there’s no risk of error or long wait time. It’s super-easy to use: Add water, pop in a capsule and press; the machine figures out the rest.
iStock/Thinkstock(NEW YORK) -- U.S. stocks ended mostly in the red Thursday, with the Dow Jones Industrial Average having its worst day in over two months. This comes after Apple Inc. extended its losing streak. The broader market collapsed under the weight of weak corporate earnings and disappointing data.
The Dow dropped 210.79 (1.17 percent) to close at 17,830.76
Nasdaq lost 57.85 (1.19 percent) finishing up the day at 4,805.29, while the S&P plummeted 19.34 (0.92 percent) closing at 2,075.81.
Crude Oil went up just 0.32 (0.71 percent) with prices at $45.65 a barrel.
Stockbyte/Thinkstock(LONDON) -- The United Kingdom’s advertising regulator has already banned certain ads that portray “unhealthily thin” body images and oversexualize models, and now it may add gender stereotyping to its crackdown list.
The Advertising Standards Authority announced on Thursday that it plans to investigate gender stereotyping in ads -- and it's asking the public for help. The watchdog group invited members of the public and organizations to share evidence of gender stereotyping in ads, saying that it wants to learn more about a number of issues, including the reinforcement of stereotyped views of gender roles on society and gender-specific marketing to children.
The agency said it also hopes to talk to interested parties like women's rights groups and those in the fashion, fitness and health industries.
The ASA is using previously banned ads, like a Gucci ad with an "unhealthily thin" model, as examples of gender stereotypes in advertising.
The Gucci ad was banned earlier this month after it was deemed "irresponsible" by the agency. "We considered that her torso and arms were quite slender and appeared to be out of proportion with her head and lower body," the ASA wrote on its website. In response, Gucci defended the ad, telling the agency that it appeared in The Times newspaper, which they said had a "mature" audience, and that the issue of an "unhealthily thin" model was a subjective one. But the ASA still ordered that the ad be pulled.
A statement to ABC News from Gucci said, "We take our responsibilities as an advertiser very seriously in the way models are selected for and presented in our advertising campaigns. We have noted, but are not in agreement with, the assessment of the U.K. Advertising Standards Authority, an independent regulator, in relation to one model featured in one image from our Cruise 2016 campaign. The campaign itself expired at the end of December 2015."
“What many people in general want to see are representations of humans rather than ideals in ads,” Kristina Monllos, staff writer at AdWeek, told ABC News. “That’s been the call to action by a lot of people when they see ads that don’t reflect reality.”
Guy Parker, chief executive of the British Advertising Standards Authority, said he looks forward to hearing from advertising "stakeholders" for the new campaign.
“We’re serious about making sure we’re alive to changing attitudes and behaviors," Parker said in a statement. "That’s why we’ve already been taking action to ban ads that we believe reinforce gender stereotypes and are likely to cause serious and widespread offense, or harm."
The British agency has previously limited and banned certain ads that starred celebrities including Beyonce and Julia Roberts, respectively.
“It’s an interesting message to send to the advertising community from this watchdog group. I don’t expect anything to happen just yet,” Monllos said.
Uber(NEW YORK) — Tardy Uber passengers may soon have to pay up.
The ride-hailing service is testing a new rule that requires passengers to pay more money if they keep the driver waiting for more than two minutes. The pilot program is taking place in Phoenix, Dallas, New Jersey and New York City. Uber did not specify how much the extra charge would be.
But if a passenger is five minutes late, the driver would be paid for an extra three minutes of the ride.
"When a driver arrives promptly, we think it’s only fair that they’re compensated for their time," a blog post on Uber's website says. "While we encourage riders to only request a ride when they’re ready, we understand that sometimes they are running a little behind. In these cases drivers will be compensated for the extra minutes they need."
Customers will also now have a two-minute grace period -- down from five minutes -- to cancel the ride or risk incurring a small fee which Uber says differs by city.
"Our goal is to help riders and drivers connect quickly and easily so they can get on their way and we hope pilots like these give us the flexibility to test new ideas and improve the reliability of our platform," the company said.
Lyft, one of Uber's biggest competitors, has a five-minute cancellation policy before passengers are charged a fee between $5 and $10.
Comcast(NEW YORK) -- Comcast announced the acquisition of DreamWorks Animation on Thursday in a deal worth about $3.8 billion.
NBCUniversal CEO Steve Burke called DreamWorks "a great addition," praising its "dynamic film brand and...deep library of intellectual property" in a press release. DreamWorks stockholders will receive $41 per share of common stock.
Comcast owns NBCUniversal and will incorporate DreamWorks into its film entertainment group. It says the move will give it a "broader reach to a host of new audiences in the highly competitive kids and family entertainment space, in both TV and film."
Last year, the New York Times says, Comcast attempted to takeover Time Warner Cable in an acquisition that collapsed due to regulatory pressure.
Amazon(NEW YORK) -- A federal judge has found Amazon liable for billing customers for unauthorized in-app charges made by their children.
The Federal Trade Commission brought a lawsuit against the Seattle company as well as Apple and Google in 2014, after the FTC said that it had received countless complaints from consumers about "surprise" in-app purchases made by their kids.
Apple and Google settled with the FTC in 2014, agreeing to pay back what amounted to a total of $50 million to customers. Amazon, however, opted not to settle.
On Wednesday, the court sided with the FTC.
"We're particularly concerned when you're dealing with supposedly free apps that children were playing and failure to even tell parents that there would be charges in those apps," said Jessica Rich, director of the agency's Bureau of Consumer Protection. "If parents don't even know about these charges and kids can keep pushing buttons and playing games, they can rack up an enormous number. ... One family reported that their child ran up $358 in unauthorized charges."
The FTC alleged in 2014 that when Amazon introduced in-app charges to the Amazon App Store in November 2011, the company did not require passwords for in-app charges, such as the use of virtual currency in children's games. Amazon, Google and Apple now require passwords to avoid unauthorized billing.
In 2014, Amazon wrote a letter to FTC Chairwoman Edith Ramirez, calling the charges a "disappointment."
"The Commission's unwillingness to depart from the precedent it set with Apple despite our very different facts leaves us no choice but to defend our approach in court," wrote Andrew C. DeVore, Amazon's general counsel. "And as we have made clear from the outset of your inquiry, our experience at launch was responsible, customer-focused, and lawful, including prominent notice of in-app purchasing, effective parental controls, real-time notice of every in-app purchase, and world-class customer service."
The FTC's complaint against Amazon sought an unspecified amount of money in refunds for Amazon customers.
"We've charged that it actually added up to millions of dollars when you add up all the charges and all the consumers that were affected," Rich said Wednesday. "We want to put as much money back in consumer's pockets and our evidence when we brought this case was that it was in the millions."
Tinder(NEW YORK) — If your friends don't know you're on Tinder, they may find out soon.
Tinder Social, a new feature that allows friend groups to match with other friend groups, is being tested in Australia but not everyone is thrilled with the idea. When creating a group, users are shown a list of Facebook friends who are on Tinder and can be added to their posse -- meaning you'll finally know which of your friends also use the app.
It's not meant for group dating. The idea is to then swipe and match with other groups who are looking for something to do, chat with matches and find a place to meet, according to Tinder's team.
While the idea is being tested in a small group in Australia, it's expected to be rolled out globally soon. Tinder's team responded to the backlash over outing users by presenting a way to opt-out.
Tinder users with the new feature can keep their existence from friends private by opting out in the settings area of the Tinder app, although Tinder's blog notes your friends probably have an inkling you're on the app anyway.
"We are only testing it at this point, but it's important to note Tinder's not a secret considering 70 percent of users download Tinder because their friends recommend it," an update from the company said.