Aug 28 - IBM announced plans to unveil a new version of its iconic mainframe computer, while other struggling computer companies scale back.
Ahead the evolving computer business and it. Tried to smash their way into the back up. Later in the show. Plus the three Times Square this Tuesday from Reuters world headquarters in New York. Secret computer business is hurting. Exhibit eight Dell HP both reporting weak quarters in the past week or so as consumers focus on tablets and Smartphones. But some not giving up just yet IBM announcing plans to unveil a new version of its iconic mainframe computer. The company spent one billion dollars to develop an updated machines. Though it is growing its services business to. -- going the other way exiting the -- inkjet printer business and cutting 17100. Jobs to focus more on its services business. Shares of the company continued on their downward path Lexmark cut its forecast last month. More signs of improvement in the housing market our daily did it today one point 2%. That the gain in home prices for the second quarter vs a year earlier according to the SP case Shiller national composite. The ten city and twenty city composite also registered a year over year gains if the first time that's happened since the summer -- twenty -- Along the Gulf Coast that housing focus on protecting homes as tropical storm as it approaches. It's expected to make landfall in the northern area seven years after Hurricane Katrina devastated the region. Forecasters expect -- to reach hurricane strength before it hits the coast. Energy companies continued to evacuate workers and shut down operations in the region. Ben Bernanke and company preparing for the annual how Alan Jackson Hole later this week. One hot high profile guests won't be making the -- Our Jamie McGee in London with that story -- Marion Draghi is staying home what's going there. That's rightly so ECB president not a drug it will not go to Jackson Hole a normal any of the ECB six strong executive board. But does cause some people a little bit off guard and of course has great stuff. For the conspiracy feet just because of tea leaves are especially. Bundesbank president and excitement is going. But to take a step back and it really should come as any surprise the eurozone as we all know. Is in the crisis and drugging himself -- the small -- out of the ECB meeting next week. Where the whole world it is expecting him to deliver on his pledge -- Google took. Do whatever it takes I believe me he said it will be enough so something of an understatement from -- to be spokesman today. We're not spike thought it was going he said. He has a very heavy workload in the coming days we -- he does all right we'll cut him some slack for not seeing him stateside thanks Jamie. Our power player of today could probably bell at a small country on her own. It's TV talk show queen Oprah Winfrey who for the fourth straight year is fourth highest paid celebrity. This despite the sagging fortunes at her own cable network. Credit her ownership of syndicated hits Dr. Phil racial way and the doctor I show. Rounding out the top five a trio of blockbuster film guys Michael Bay transformers fame Steven Spielberg and mega producer Jerry Bruckheimer. Bobbled by hip hop guru Dr. Dre who raked in -- 110 million bucks for selling his stake in the head and company beats by Dr. Dre day. -- three Times Square think sometimes bigger is better or at least makes for really cool video. Check out this fifty foot tennis racket strung on site in Queens New York to coincide with the kick off of the US open. Students in meditation group taking a swing at Guinness world record by building this replica of tennis legend Billie Jean king's racquet. Looks like anyone can win with that if you can -- that is the racquet weighing in at 121000. Pounds. That's the latest entry Times Square this Tuesday you could follow us on Twitter athletic insider and check out Reuters YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is sports.