August 16, 2013

Are you enjoying the boom in the craft beer industry? Maybe you even brew some of your own at home? Well, you may have less company than you might think. Americans are drinking less beer. According to a recent Gallup poll, only 36 percent of Americans who drink alcohol say that beer is their beverage of choice.

Meanwhile, if you're looking to buy a home, you might have some steep competition when it comes time to make a bid. A report from Goldman Sachs says that half of the homes bought last year were paid for with cash. Does that surprise you? Weigh in our Facebook page with your stories (or questions) on housing. Share your experiences with us on being a first-time buyer or tell us if yo're still wondering whether renting is the best option.

THE NUMBERS as of 2:35 P.M. EDT


DOW +27.82 (+0.21%) Dow up; NASDAQ +7.80 (+0.26%)Nasdaq up S&P 500 +3.99 (+0.24%)S&P 500 up

Mid-day Update

PODCAST: How international companies operate in a violent Egypt


Nearly 640 people are estimated to have been killed in the violent crackdown on supporters of the deposed Muslim Brotherhood government in Egypt. Cities across the country are bracing for more violence today, after the interim government declared a state of emergency and the Brotherhood called for a "Friday of rage" to begin after morning prayers.

Aside from the toll on human life, the recent uprisings have wreaked havoc on an already troubled Egyptian economy. Banks are closed until at least Monday. A General Motors plant in a Cario suburb that employs 1,400 people has closed, and other multinational corporations with operations in Egypt are laying low.

So are multinationals reconsidering future investment in Egypt? Not yet, says Majid Jafar, CEO of Crescent Petroleum, an oil company based in the United Arab Emirates with extensive operations in Egypt. Jafar says his company has been dealing with instability since the fall of Hosni Mubarak's totalitarian government.

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