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Unemployment up, revenues miss expectations, as tech stalls out in California

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Unemployment in California rose to 8.7 percent in July, according to the Bureau of Labor Statistics , as growth slowed in the state’s tech sector. The Los Angeles Times reports: The announcement Thursday that Silicon Valley giant Cisco Systems, which sells networking and telecommunications equipment, plans to cut 4,000 jobs is the latest sign of a slowdown that has sucker-punched...