MID-DAY UPDATE: Ireland's bailout and global entrepreneurship

Retail sales are up 1.2 percent, but consumers remain cautious about where they allocate their dollars. This trend is in keeping with the revelation that stealth tax cuts did not encourage spending either. Also, the answers to the questions -- Is the Federal Reserve losing its global clout? Is entrepreneurship changing the future of global business?

Ireland remains in the news as the debate continues regarding its need for a bailout. The Irish government insists they don't need to borrow until well into next year. Over in Greenland, plans are being made to award permits to oil companies soon; however any company that gets a license has to put $2 billion into a clean-up fund. When General Motors goes public on Thursday a Chinese automaker is expected to be one of the big buyers of its shares. This is an example of what is expected to be the biggest week of initial public offerings in a couple of years.

And in news from the cyber domain of e-mails: AOL announces an e-mail overhaul and Facebook is expected to confirm rumors that it is launching an e-mail service. Plus, which one of your friends would be on your "path" if you could only have 50 friends? And finally, what is more relaxing for men -- cooked or uncooked red meat?

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