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NEW YORK (AP AND CNN) — A sharp loss for Facebook is helping to pull technology companies lower as stock indexes decline in early trading.Facebook slumped 5.3 percent early Monday. The company is facing new criticism following reports that a data mining firm employed by the Trump campaign improperly kept data on tens of millions of users.CNN reported that that Cambridge Analytica, a data firm with ties to President Donald Trump's campaign, reportedly gained access to information about 50 million Facebook users.The data was collected by a professor for academic purposes in accordance with Facebook rules, the company said. But then the information was transferred to third parties, including Cambridge Analytica. The transfer violated Facebook policies.Facebook's stock was on pace for its biggest loss in four years. The sharp loss also dragged tech companies lower for as U.S. stock indexes skid. Chipmaker Nvidia lost 1.1 percent.Shopping mall owner GGP was unchanged percent after Reuters reported the company had received a revised takeover offer.The S&P 500 fell 17 points, or 0.6 percent, to 2,734.The Dow Jones industrial average lost 174 points, or 0.7 percent, to 24,772. The Nasdaq fell 69 points, or 0.9 percent, to 7,412.Bond prices fell. The yield on the 10-year Treasury rose to 2.86 percent. 1360
NEW YORK (AP) — A stage production of Ta-Nehisi Coates’ “Between the World and Me,” his prize winning book about racism and police violence, is being adapted by HBO for a special this fall. HBO announced Thursday that the program will feature readings from Coates’ book and will be directed by Apollo Theater Executive Producer Kamila Forbes. She directed the stage production of “Between the World and Me″ in 2018 at the performance center in Harlem. Coates’ book, published in 2015, is structured as an open letter to his son about what to expect as a Black man living in the United States. 600
New payment options are popping up in your online shopping cart.There's been an explosion of retailers, including Amazon and Target, adding buy now, pay later options.“In general, I'm not a huge fan of these services really, because I'm worried about any sort of consumer debt,” said Ted Rossman, a financial expert at Bankrate. “And if you don't really have the money to pay for it today, but you think you'll have it in six weeks, that's a slippery slope.”Rossman says point-of-sale apps have seen triple digit growth over the holiday season.They typically require a payment up front and a few more payments spread out over six weeks or so. If you pay on time, usually there's no interest or fees.Rossman says research has found that almost half of buy now, pay later customers have paid late at some point, mainly because they were disorganized.Stores like them for several reasons, including because they tend to get people to spend more.“They also like the potential loyalty and big data play that they can actually learn a lot about their customers, and they work very closely with a lot of these services,” said Rossman.Most buy now, pay later lenders typically do a soft credit check. They won't typically help you build credit, but they could hurt your credit if you pay late because they will report that.“I just think that's a little bit short sighted, because if you use a credit card and are paying full, you avoid interest, but you get better promotions, you get rewards, you get better buyer protections,” said Rossman.Rossman says these options are appealing even to people who have credit, because of their predictability.He thinks we will see more of these with retailers not being able to push store credit cards as much with fewer in person shoppers. 1778
Nintendo has filed a lawsuit against an Arizona man after the video game giant claims he operated two websites "built almost entirely on the brazen and mass-scale infringement of Nintendo's intellectual property rights," according to court documents.The lawsuit, filed July 19 in Arizona U.S. District Court, claims Jacob Mathias and his company, Mathias Designs, L.L.C, operated 'LoveROMs.com' and 'LoveRetro.co' — websites lawyers for Nintendo say "are among the most open and notorious online hubs for pirated video games."The company claims Mathias posted thousands of Nintendo games on the sites that were downloadable as files — known as "ROMs" — and playable on phones or computers through software referred to as emulators. In court documents, the company's lawyers said Mathias uploaded an instructional video to YouTube explaining how to download and run the games.Nintendo estimates its titles were illegally downloaded from the sites by more than 60 million people.The company is seeking 0,000 for each infringement of its copyrighted work and up to ,000,000 for each infringement of the Nintendo trademark. Its lawyers said Mathias profited off the website through ad sales and donations.On Wednesday night, both 'LoveROMs.com' and 'LoveRetro.co' displayed messages they were shut down.Reached by phone, Mathias declined to comment. His attorney, Lance Venable, responded by email that he had "no comment at this time regarding the allegations" but added, "I have been in contact with Nintendo's counsel and we are hopeful that we can resolve the matter amicably." 1590
New documents obtained by CNN's "Anderson Cooper 360" on Wednesday suggest a deeper link than previously known between the Trump Organization and the company that Donald Trump's personal lawyer, Michael Cohen, established in 2016 to pay off porn star Stormy Daniels in exchange for silence about her alleged affair with Trump.The documents also offer the first evidence of an individual employed by the Trump Organization -- other than Cohen -- being involved in an ongoing legal battle regarding Daniels' alleged affair with Trump.A "demand for arbitration" document dated February 22, 2018, names Jill Martin, a top lawyer at the Trump Organization based in California, as the attorney representing "EC, LLC." "EC, LLC" is Essential Consultants, according to Daniels' lawsuit, a company that Cohen established in the weeks leading up to the 2016 presidential election to facilitate a payment of 0,000 to Daniels.Martin's title at the Trump Organization is vice president and assistant general counsel, according to her LinkedIn page. The address listed for Martin on both documents is One Trump National Drive in Rancho Palos Verdes, California, which is the location of Trump National Golf Club, Los Angeles.In addition to showing a second attorney connected with the Trump Organization having direct involvement in legal matters related to Daniels, the new documents raise questions about Cohen's previous insistence that "neither the Trump Organization nor the Trump campaign was a party to the transaction with Ms. Clifford," though it is not known whether Martin had any involvement in the case prior to the arbitration filing.When asked by CNN about the documents, Martin replied with a statement from the Trump Organization that said she was working in a private capacity, on behalf of Cohen's attorney Lawrence Rosen. "The Trump Organization is not representing anyone and, with the exception of one of its California based attorneys in her individual capacity facilitating the initial filing... the company has had no involvement in the matter."The documents were part of Cohen's request for a restraining order against Daniels, to keep her from speaking about her alleged affair with Trump. A private arbitration judge approved the request for an "ex-parte application for emergency relief," which meant that neither Daniels nor her attorney had to be notified about the proceedings. Last week, White House press secretary Sarah Sanders told reporters that the arbitration was won "in the President's favor," an admission that the nondisclosure agreement exists, and that it directly involves the President. However, the President did not "win" arbitration, because the restraining order is an interim order.While Martin has specifically denied working for the Trump campaign, she has nevertheless spoken on Trump's behalf on numerous occasions, throughout the 2016 campaign.She spoke with CNN's Erin Burnett in October 2016 just two weeks before Election Day, for example, defending then-candidate Trump against accusations of sexual assault from multiple women."I've seen him around women. Thousands of women that have worked for him including myself and he's treated us with nothing but respect and appropriately," Martin said.Martin spoke with multiple media outlets about Trump and publicly praised and defended him throughout the campaign season.In a September 2016 Los Angeles Times story about court documents that argued Trump wanted to fire women at his California golf course who weren't pretty, Martin told the paper: "We do not engage in discrimination of any kind."She also appeared on CNN in June 2016 to talk discuss Trump University litigation, in which she also served as an attorney for Trump.Daniels, whose legal name is Stephanie Clifford, maintains that she was paid 0,000 to keep silent about her alleged affair with Trump, which began in 2006. Daniels filed a lawsuit against Trump last week, claiming that he never signed a hush agreement regarding her alleged sexual encounter with him and therefore arguing that the agreement is void.According to the legal complaint filed in California state court, Cohen signed the document, but there is no signature from Trump himself."Despite Mr. Trump's failure to sign the Hush Agreement, Mr. Cohen proceeded to cause 0,000.00 to be wired to the trust account of Ms. Clifford's attorney," the lawsuit states. "He did so even though there was no legal agreement and thus no written nondisclosure agreement whereby Ms. Clifford was restricted from disclosing the truth about Mr. Trump."Larry Noble, general counsel of the nonpartisan Campaign Legal Center and a CNN contributor, said the arbitration document offers evidence of a possible connection between the Trump Organization and the payment to Daniels, which could violate campaign finance law."This is further evidence that the Trump Organization is involved. If they are going to argue that this payment was separate and apart from the Trump Organization, then why is the organization representing this company now?" 5093