IN BRIEF

Judge sets hearing date in Las Vegas Sands case

A district judge has set a hearing for Monday morning on the request of a Hong Kong businessman who won a multimillion-dollar judgment against Las Vegas Sands Corp.

Richard Suen wants the casino operator to post a bond on his $58.6 million award because the current economic meltdown has affected the company's fiscal stability. Las Vegas Sands' stock price has slid to historic lows over the past month, greatly reducing the company's market capitalization.

In May, following a six-week trial, a Clark County jury awarded Suen $43.8 million. An additional $14.8 million in interest was tacked onto the verdict. The jury found in favor of Suen, who claimed he should be compensated for helping Las Vegas Sands win a lucrative Macau gaming license in 2002. The lawsuit was filed in 2004.

Las Vegas Sands is appealing the judgment.

Wynn Resorts names chefs for Encore resort

Wynn Resorts Ltd. has announced the lineup of chefs for its Encore resort, which is set to open in December with five restaurants on the Strip.

The chefs announced Tuesday include Theo Schoenegger, a four-star chef from Los Angeles; Jet Tila, who specializes in Asian cuisine; Marc Poidevin, Wynn's executive chef of catering and special events; Mark LoRusso, former executive chef of Tableau at Wynn Las Vegas; and Kim Canteenwalla, who is planning a casual American restaurant.

The other four restaurants on the property are expected to feature steak, Italian cuisine, French-inspired steak and seafood, and Asian fusion.

The $2.3 billion Encore is expected to include more than 2,000 rooms, 11 retail stores, seven bars and a nightclub.

NEW YORK

PepsiCo to cut 3,300 jobs, shut six plants

PepsiCo Inc. is cutting jobs and closing factories to give it some "breathing room" to navigate the volatility that has permeated all corners of the global economy.

The maker of Pepsi-Cola, Doritos and Sun Chips said Tuesday it plans to eliminate 3,300 jobs and shutter six plants to save $1.2 billion over three years. It plans to use the savings primarily to revive lagging U.S. soft drink sales.

The announcement came as the global snacks and drinks company posted third-quarter net income of $1.58 billion, or 99 cents a share, down from $1.74 billion, or $1.06 per share, a year earlier.

Revenue rose 10.1 percent to $11.2 billion from $10.17 billion.

WASHINGTON

Interest rates mixed in Treasury auction

Interest rates on short-term Treasury bills were mixed in Tuesday's auction with rates on three-month bills rising to the highest level in three weeks.

The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.5 percent, up from 0.46 percent last week and the highest since these bills averaged 1.1 percent on Sept. 29. It also auctioned $27 billion in six-month bills at a discount rate of 1.1 percent, unchanged from last week.

The weekly Treasury auction is normally held on Monday but occurred Tuesday because of the Columbus Day holiday.

CUPERTINO, Calif.

Apple lowers price for entry-level laptop

Apple Inc. touched up its line of laptop computers Tuesday with a minimal nod to the economic turmoil that may push holiday shoppers to spend less this year.

Apple cut the cost of the entry-level MacBook by $100, to $999.

In the updated versions of its MacBook and MacBook Pro machines, Apple focused mainly on adding features.

At the lowest end of the redesigned laptops, a MacBook will cost $1,299. While the most expensive MacBook Pro, which comes with two graphics chips from Nvidia for extra-fast graphics processing, costs $2,499 -- a $300 reduction from the previous top model.

Treasury prices fall as stock indexes decline

Longer-term Treasury yields rose Tuesday as investors sold off stocks.

The 10-year note fell 1.22 to 99.72 and yielded 4.03 percent, up from 3.86 percent. The 30-year bond fell 2.34 to 103.94 and yielded 4.26 percent, up from 4.14 percent.