Bloomberg:
- Las Vegas Sands is seeking $2.5 billion of loans to expand in the Chinese city of Macau, which may become the world’s largest gambling cent by revenue this year.
- Harrah’s Entertainment is entering Europe with a Caesars hotel in Spain and a $700 million resort project in Slovenia.
- US Treasuries are falling and the US dollar is rising after consumer confidence rose more than forecast and sales of new homes unexpectedly increased to a record, dashing speculation the Fed is about finished raising interest rates.
- Crude oil is falling for a third session on speculation that US inventories are sufficient to meet demand and as OPEC ministers said they don’t expect the group to cut production quotas at a meeting next month.
- BP Plc’s CEO said oil prices today are “unsustainably high” and that natural gas demand is being cut by high prices.
Wall Street Journal:
- Harrah’s Entertainment is likely to announce this week that it’s starting two casino-resort projects in Spain and Slovenia valued together at $1.37 billion.
- The FCC may today suggest that consumers could be helped by letting them buy cable channels individually rather than forcing them to buy packages.
- Exxon Mobil, BP and Royal Dutch Shell are joining the hunt for natural gas in the US as high prices attract drilling in locations once considered uneconomic.
- Worldwide demand for business jets is causing waiting lists, yet manufacturers such as Bombardier, General Dynamics and Textron’s Cessna Aircraft unit are reluctant to boost production.
- The arrival of Airbus SAS’s jumbo A380 jet may create bottlenecks at airports around the world and especially at Los Angeles International Airport.
- Timberland and Overstock.com reported record sales yesterday on their Web sites as US consumers flocked to the Internet on the Monday after Thanksgiving.
- Premiere Radio Networks, a syndication arm of Clear Channel Communications, will offer video “podcasts” of its radio shows next month.
- The NYSE’s share of trading in stocks listed on the exchange fell to its lowest level in 29 years last month, as investors such as hedge funds made electronic trades instead.
- Additional progress in stabilizing Iraq may depend on the continued presence of US forces, Democratic Senator Joe Lieberman wrote.
- Samsung Electronics admitted to conspiring with companies to fix the price of computer chips that use Rambus technology, which may help Rambus’ antitrust case against the chipmaker.
NY Post:
- TiVo Inc. will announce plans today to sell digital-video recorders in Taiwan as part of its strategy to expand overseas.
LA Times:
- Walt Disney this month began selling Mobile ESPN, a cell-phone service that also offers sports news, scores and video clips.
- The California film and tv industries, which employ about 250,000 people in Los Angeles County, are being hurt by the movement of production out of the state.
Fortune:
- Janus Capital Group is considering a management takeover offer of about $17 a share, and hired Morgan Stanley for advice.
NY Times:
- A New Orleans flood protection system designed to bear Category 5 hurricanes may cost $32 billion and take years to complete.
AFP:
- One of Jordan’s most important tribes said in a statement today that it disowned Abu Musab al-Zarqawi, the Jordanian-born leader of the al-Qaeda in Iraq organization.
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