Today's other stories in brief
THE NUMBERS
22,120
The number of jobs cut by 14 banks and securities firms due to the collapse of the subprime mortgage market.
7
The percentage growth that Iraq's oil-fuelled economy will see in 2008 and 2009, according to the IMF.
QUOTE of the WEEK 1
"It is beyond our imagination to even have a theory for why the food is unsafe."
It's a shame, but consuming milk and meat derived from the progeny of cloned animals isn't going to produce any X-Men-style genetic mutants, says Stephen Sundlof, a director of the US Food and Drug Administration, which has declared such food safe.
QUOTE of the WEEK 2
"The difference between my focus on the business and the traditional focus on the business is we are trying to balance what does the consumer want and is willing to pay for, versus what does the person producing the product want."
It sounds innocuous, but EMI's new owner Guy Hands, dubbed "a confused bull in a china shop" by Radiohead's Thom Yorke, is sounding the death knell for the rockstar lifestyle with this corporate-speak.
GOOD WEEK
The US anti-tax movement
After the death of Leona "only little people pay taxes" Helmsley last year, the anti-tax brigade have found a new celebrity to champion their cause. Actor Wesley Snipes, on trial for failing to pay any taxes on the $38 million he earned over five years, claims he is not actually legally required to pay any taxes, citing a disputed section of the federal tax code.
BAD WEEK
Share price valuations
Valuation frustration abounds among those paid to analyse Irish equities. Ryanair's share price suggests it is worth just the value of its aircraft, with the operating company "thrown in for free", according to one dealer, while C&C's share price is "effectively writing off the value of the Magners brand", one analyst notes. But surely the market never lies?
