A controversial CEO, Ballmer has struggled to keep Microsoft relevant as the Internet and smartphones pass the PC by. Also this week: Fed minutes released, housing sales send mixed signals, J.C. Penney gets 'poison pill.'
Jobless claims rose by 13,000 to 336,000 claims from 323,000 jobless claims for the prior week.
Second newspaper starts up in Long Beach, while online news provider Patch slashes its staff. Yahoo's online-savvy CEO makes a fashion statement – in a magazine. This week in the economy.
Next Federal Reserve chairman must strongly support central bank's dual mandate, president says, and right now that means boosting employment. Also this week: jobless claims rise, credit card debt falls, and drama unfolds at J.C. Penney.
Although they both remained below 400,000, the number of Americans making both initial and continued unemployment claims rose from last week. In total, there are 1.51 million Americans receiving federal "extended" unemployment benefits.
Although unemployment rates dropped in July, the employment situation remains in a sorry state, even compared to the double-dip recession of the early 1980s.