IN BRIEF

Casino owner to build mixed-use project

A company with a portfolio of downtown Las Vegas casinos is moving into the commercial and residential business.

On Wednesday the Las Vegas City Council approved a site development plan for 32-story, mixed-use project by Tamares U.S. Real Estate, owners of the Plaza, Las Vegas Club, Western and, for a short time, the Gold Spike.

The new project would be at 902 and 916 East Fremont St., about 10 blocks from the Plaza, which is on Main at Fremont. In between is the Fremont Street Experience and Fremont East, the downtown district the city hopes to fill with bars, clubs and other entertainment-oriented venues.

According to the City Council agenda, the Tamares project will have 537 residential units and nearly 29,000 square feet of commercial space.

NEW YORK

Topps investors OK private equity buyout

The Topps Co.'s shareholders approved a $385.4 million private equity takeover of the baseball card and Ring Pop candy maker, the company said Wednesday, defeating activist investors who had said the price was too low.

CEO Arthur Shorin told shareholders the deal had enough preliminary votes to pass at the end of a special meeting. The meeting had been postponed three times as the company sought the votes it needed.

Michael Eisner's Tornante Co. investment firm and Madison Dearborn Partners agreed in March to take the company private for $9.75 a share. Since then they have had to fight two of the company's board members and a Topps competitor to gain the confidence of shareholders. Eisner is a former chief executive of The Walt Disney Co.

A majority of the company's 38.76 million outstanding shares had to be voted in favor of the deal for it to go through.

MINNEAPOLIS

General Mills earnings up 8 percent in quarter

Charging more for Cheerios, Lucky Charms and Yoplait yogurt helped General Mills report an 8 percent increase in its first-quarter profit on Wednesday.

General Mills said it earned $288.9 million, or 81 cents per share, in the quarter ended Aug. 26, up from $266.9 million, or 74 cents per share, a year ago.

Revenue rose 7.3 percent to $3.07 billion from $2.86 billion.

NEW YORK

Treasurys slide as stock rally continues

Treasurys closed sharply lower Wednesday as Wall Street stretched its interest rate-inspired rally.

The benchmark 10-year Treasury note closed down 0.44 points at 101.75 with a yield of 4.52 percent, up from 4.47 percent at Tuesday's close.

The 30-year long bond finished 1.22 lower at 102.72 with a yield of 4.82 percent, up from 4.75 percent at Tuesday's close.