IN BRIEF
LV Sands reiterates commitment to plan
Las Vegas Sands Corp., in danger of defaulting on some of its loans, on Friday reaffirmed its pledge to the $4 billion Marina Bay Sands development in Singapore.
Company Chairman Sheldon Adelson expressed his company’s commitment to Singapore officials this week.
“In light of recent turmoil in the global markets, I felt the need to personally reaffirm our commitment to the success of Marina Bay Sands,” Adelson said in a statement.
Last week, Singapore tourism officials said the government would ensure the Marina Bay Sands was built.
MGM Mirage, partner mark cash for CityCenter
MGM Mirage and joint venture partner Dubai World each agreed to fund up to $959 million to help finish the massive CityCenter project, now budgeted at $9.1 billion.
The company announced the move in a filing late Thursday with the Securities and Exchange Commission. During its recent quarterly earnings release, MGM Mirage said it was planning to make the investment.
Last month, MGM Mirage and Dubai World finalized $1.8 billion in financing and received another $500 million in commitments toward the $3 billion in financing needed to complete the development.
Treasury prices decline as stocks head higher
Treasury prices sank Friday as stocks surged, pushed higher by bargain-hunting traders.
The 10-year note fell 0.69 points to 101.78 and yielded 3.77 percent, up from 3.69 percent.
The 30-year bond fell 0.94 points to 104.13 and yielded 4.26 percent, up from 4.20 percent.
