Hong Kong casino firm Melco Crown Entertainment (MPEL) is partnering with the Philippines' Belle Corp. to build a $1 bil casino in Manila. The deal gives Melco a lead in the Philippines. It could draw revenue from Macau, where Las Vegas Sands (LVS), MGM Resorts (MGM) and Wynn Resorts (WYNN) have casinos. Melco Crown shares slipped 0.9%.
The U.S. Federal Reserve's explicit signal it will stop pumping money into the world economy and data showing China's …