The unemployment rate in California is on the rise. After May's 5.2 percent the unemployment rate in the state climbed to 5.4 percent in June. According to the Employment Development Department, increase in unemployment rate was noted for the first time in about six years.
Blue Coat Systems Inc is being taken over by Symantec Corp. in a cash deal of approximately $4.65 billion. The deal will add to the company's cyberdefense technology.
Greg Clark, the CEO of Sunnyvale, California based Blue Coat will head the combined corporation and will also join its board when the deal is completed in the third quarter, mostly expected in October.
Two different reports released on Friday signaled that Jawbone, the consumer technology and wearable products company might be in trouble.
One of the reports said that the San Francisco, California based tech company is trying to sell its audio business and the other says it has ceased producing its Up fitness trackers.