We are back drinking the black stuff and it is official. After a continued decline in Guinness sales for years the latter half of 2007 saw a rise of 3% in Ireland. Worldwide sales increased by 6% with growth in the US, UK and Nigeria. On a related note there sill has not been a decision whether Guinness will move from its traditional home St James’s Gate. Even with the dip in property in Ireland the 64 acre city center...
Subprime crisis has hit Morgan Stanley hard with the loss of 1000 jobs. They will eliminate jobs by scaling back US residental mortgage business and Advanced Homeloans in the UK. It is no surprise that banks and brokers have cut 19,000 jobs in the past 6 months and they have had credit losses of about $146 billion.