AP Business

Las Vegas Sands Corp.'s Macau operation tumbled more than 13 percent in its first day of Hong Kong trade Monday, after raising $2.5 billion in an initial public offering to help restart its languishing gambling projects. Shares of Sands China Ltd. were off 13.3 percent at 9 Hong Kong dollars after trading as low as HK$8.78. The stock had been sold at HK$10.38, near the low end of a range of prices it was marketed at. The U.S. casino giant had originally sought to raise more than $3.3 billion by selling shares in its casino businesses in the southern Chinese enclave of Macau, the ... Read Full Story

Stocks appear headed for a modest decline as investors weigh concern about fallout from Dubai's debt crisis against improving signs from U.S. consumers. Global markets are stabilizing Monday following last week's announcement that Dubai World, the main investment arm of the Persian Gulf city-state, asked to defer $60 billion in debt repayments for six months. While investors remain cautious about fresh credit market worries, there were positive early signs from the first weekend of holiday shopping season. Dow Jones industrial average futures are down 8, or 0.1 percent, at 10,284. Standard & Poor's 500 index futures are down 1.00, or 0.1 percent, at, 1,088.50, ... Read Full Story

Oil prices rebounded to near $77 a barrel Monday in Asia as panic about a global fallout from Dubai's debt problems abated. Benchmark crude for January delivery rose 63 cents to $76.68 at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.91 to settle at $76.05 on Friday. News that Dubai's investment arm, Dubai World, could default on $60 billion in debt sent world markets tumbling on Friday as investors fretted about another financial crisis. The United Arab Emirates central bank took steps to avert any run on banks by panicked depositors, pledging Sunday to offer additional ... Read Full Story

Asian stock markets rebounded Monday from their steep fall last week after the United Arab Emirates moved to contain the fallout from Dubai's debt crisis. Major markets jumped by 2 percent or more after tumbling on Friday amid fears Dubai's debt problems could lead to more financial instability just as the global recession is easing. The UAE's central bank helped soothe investor fears, at least for now, by pledging Sunday to make extra funding available to all banks in the country, including foreign institutions with local branches. However, the bank's announcement, aimed at shoring up confidence and averting a bank run, did not mention ... Read Full Story

Bank of America is sending its credit card customers a one-page letter with a simple explanation of the interest rates and fees they're being charged starting Monday. While not mandated by the federal credit card reforms to take effect in February, Bank of America's letter reflects the new law's aim at making policies easier for consumers to understand. The letter is being sent to the bank's 40 million consumer credit card holders. A sample provided to The Associated Press details the interest rates charged on purchases, balance transfers and cash advances. It also spells out all annual, transaction-based and late payment fees. Perhaps most ... Read Full Story