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  • Apple(NEW YORK) -- When Apple releases its second-quarter financial results on Tuesday, analysts expect the company will report a dip in iPhone sales, marking the first time the company's flagship product has been in decline."This has been anticipated for three months now," Gene Munster, managing director and senior research analyst at Piper Jaffray, told ABC News.Munster predicted sales will be "down 15 percent year-over-year and the reason is nothing is wrong with the iPhone.”The blockbuster iPhone 6 releases in 2014 and 2015, which included the huge Chinese market, helped fuel Apple's record iPhone sales, according to previous earnings reports."People typically hold their phones for a couple years so they jumped and bought their phones maybe earlier and it pulled forward the demand," Munster said.Even Apple has warned of a difficult quarter. During the earnings call for the first fiscal quarter of 2016, which ended Dec. 26, Apple reported sales of 74.8 million iPhones, up less than 1 percent from the same time one year ago.Apple CEO Tim Cook pointed to weakening currencies worldwide as one of the obstacles the company was up against this quarter.While the likely decline may be a headline, analyst Munster said it's not a reason to worry for Apple. He predicts iPhone sales will once again increase by the end of this year, following the likely release of a new product in September.
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  • Brian Rudolph(NEW YORK) — Brian Rudolph and Daniel Katz are two young foodies who have turned their passion for good food into their mission for success.The young entrepreneurs spent hours perfecting their recipes in their home kitchens in order to turn their dreams into reality.Now, they have secured distribution in major chains and their products are flying off store shelves.In 2014, Brian Rudolph, 25, teamed up with his brother, Scott, and launched Banza -- the first pasta made from chickpeas with double the protein, four times the fiber and nearly half the net carbs of traditional pasta."It's been really exciting to see how the product has been resonating with people," Rudolph said. "Not only have we gone from two to 2,000 stores, but we even have some stores where we're the number-one-selling pasta overall, which, if there's anything that proves our thesis that we can actually change pasta, it's having that happen."Rudolph graduated from Emory University in 2012 and became a fellow for Venture for America -- a program for recent graduates who have goals to revitalize American cities and communities through entrepreneurship. He moved to Detroit and worked on his vision to create a better pasta by infusing his love of hummus with his pasta obsession.He launched a crowdfunding campaign on RocketHub in 2013 and the response was overwhelming. The goal was $10,000 and by the end of the campaign, he had raised around $27,000."The goal was to see if people were excited by the concept and learn what resonated best," Rudolph told ABC News. "I was happy with the response and made some changes based on feedback, like I stopped calling it 'Greek Pasta.'"Like Rudolph, Daniel Katz, 19, is rethinking some of our popular food staples with his "No Cow Bars" and "Fluffbutters," which came from a personal need for dairy-free products.Katz dropped out of Indiana University during his freshman year at only 17 years old and moved to Los Angeles in 2014 with dreams to create a new type of sports drink.When that didn’t work out, he moved back home to Cincinnati, Ohio, and tapped into the growing plant-based protein industry with his all-natural and dairy-free nut butters and protein bars. Katz launched his company, D's Naturals in early 2015."In order to succeed, you must fail," Katz told to ABC News. "You can always get right back up and you're not going to do that same thing again."I basically consider entrepreneurship my own MBA. Every single day it’s something new," he said.Katz gave himself a crash course in food chemistry and ordered large test samples of all the ingredients he wanted to use in his products by convincing large suppliers to send him samples.He ended up moving into his office, sleeping on an air mattress, as he continued working around the clock.Once ready with what he thought were tasty treats, he pitched his passion project to major retailers. Within a year, Katz has secured national distribution."I had a lot of people at the beginning telling me it wasn't possible and there was no chance I was going to survive competing with these billion dollar brands," Katz said. "What you’ve come to realize is if you're willing to work, you're willing to sleep less. Anything is achievable."Daniel told ABC News that D's Naturals will be rolling out three to four new flavors of "No Cow Bars" and expanding national distribution.Copyright © 2016, ABC Radio. All rights reserved.
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  • iStock/Thinkstock(LOS ANGELES) -- As many people try to get their hands on the toy of the year, multiple knock-offs are still making their way onto the market, despite the risk of fire dangers.
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  • Sean Gallup/Getty Images(HANNOVER, Germany) -- President Obama used the opening of the world’s leading industrial technology trade fair in Hannover, Germany to push for the completion of a major trade deal between the U.S. and the European Union by the end of the year.
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  • Scott Olson/Getty Images(NEW YORK) -- Target's new bathroom policy is causing some customers to boycott the retail giant.
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  • Creatas/Thinkstock(NEW YORK) --  A quandary over scallop rules has two groups of fishermen in Maine at odds over the increasingly lucrative shellfish.Kristan Porter, 46, is an independent fisherman who catches lobsters for most of the year with his boat "Brandon Jay." But for additional income, for five months each year, he and the two other men on his boat have begun collecting scallops.But a larger than usual harvest of scallops this year in the northern Gulf of Maine and the competitive price that they demand has brought a larger number of boats than usual. Porter's boat and others are limited to collect 200 pounds of scallops each trip until the boats reach 70,000 pounds. But other boats that have permits distributed in the 1990s are allowed to haul up to 40 million pounds within the 34 days they are permitted in the area.The problem is exacerbated as the demand for scallops has evolved from just another mollusk to a delicacy in fine dining."Basically, we are seeing scallops start to return to the Northern Gulf of Maine for the first time in over two decades," said Togue Brawn, an advocate for the fisherman in Maine with Maine Dayboat Scallops/Downeast Dayboat. "We would like to have a small, sustainable fishery, and there are rules in place that should help that happen, but they won't work if the class of vessels with the largest fishing power is able to just ignore them."On Wednesday, the New England Fishery Management Council voted on multiple actions, including to work toward federal sea scallop regulation that would prohibit the vessels with permits from collecting more than 50 bushels of in-shell scallops in a demarcated area next year. The potential rule needs approval by the National Marine Fisheries Service to become a regulation.  Porter and Brawn said they worry that regulatory approval will move slowly and it may be too late before the scallops are gone from over-harvesting."Every time we get a little glimmer of hope, like this bed of scallops that showed up, it's gone," Porter said. "We want to resolve this situation so this doesn't keep happening."It takes scallop beds several years to rebuild once they are heavily fished, or over-fished. A spokesman for the New England Fishery Management Council said the group is working toward a "longer-term, more comprehensive action for the area.""These guys take part in a small fishery, they don't have paid lobbyists and attending Council meetings means taking a lot of time off from fishing," Brawn said.Eric Hansen, of New Bedford, Massachusetts, is one of the permit holders that aren't bound by the same quota that Porter and others follow. Hansen, who typically fishes south of Maine, returned to the Gulf of Maine this year for the first time in decades. His family business obtained one of the permits back in 1994 for free that now could be sold for millions of dollars."My livelihood has always been dedicated to scallops," said Hansen, 54. "I started when I was 16 years old. I’ve been fishing all my life. My family has been fishing for over 100 years on Georges Bank since my great grandfather."The increasing price has led to some crowding in the industry, which has contributed to the debate over developing new rules."When I started fishing, we were getting $2 a pound and now we’re getting $18," Hansen said, adding that he hopes the proposed actions will solve the tension between boats like his and those that are bound by scallop quotas."I think it will solve the whole problem if the regulations are consistent throughout the range of the fishery," Hansen said.Copyright © 2016, ABC Radio. All rights reserved.
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