Unemployment reaches 11.2% in eurozone The jobless rate in the eurozone reached the highest on record as the festering debt crisis and deepening economic slump prompted companies to cut jobs. Unemployment in the economy of the 17 nations using the euro reached a revised 11.2 percent in May and held at that level in June, the European Union's statistics office in Luxembourg said Tuesday. That's the highest since the data series started in 1995. In Germany, unemployment climbed for a fourth straight month in July, to 6.8 percent, a separate report showed.
Microsoft's Outlook.com to supplant Hotmail Microsoft introduced a new e-mail client called Outlook.com, Microsoft's latest stab at an e-mail service that replaces Hotmail as the company's primary e-mail service. Outlook.com will let users sync their accounts with various social networks, including Facebook and Twitter, as well as Skype eventually. Hotmail probably will be phased out in the next year, said Brian Hall, a general manager in Microsoft's Windows group, in an interview.
Report: Chick-fil-A owners are billionaires Chick-fil-A executives and brothers Dan and Donald Cathy run one of the most controversial fast-food chains around. Doing so makes them some of the richest men in the country. The privately held Atlanta company is valued at $4.5 billion, according to research firm PrivCo. Don "Bubba" Cathy and Dan Cathy -- who recently spoke out against gay marriage -- each own a third. According to PrivCo, that means the Cathys, sons of Chick-fil-A founder Samuel Truett Cathy, are worth $1.5 billion apiece.
Confidence creeps up but remains low Consumers were a bit more optimistic about the economy in July, but confidence remains low, according to the Conference Board. The group's consumer confidence index was up slightly in July to 65.9 from 62.7 in June, the first increase in five months. Consumers were more optimistic about their short-term economic prospects despite signs that the recovery has slowed to a crawl.
FROM NEWS SERVICES
