IN BRIEF

SALT LAKE CITY

Utah group to register opposition to plants

Nevada Gov. Jim Gibbons soon will be hearing from members of the Utah Clean Air Alliance who fear that if three coal-fired power plants are built in eastern Nevada, Utah residents already living in pollution-plagued areas will be the ones who suffer.

The coalition, which has about 20 groups, contends pollution from the plants in rural Nevada would likely be blown into Utah by prevailing winds, possibly lingering for days over cities in mountainous valleys.

While more than 90 percent of Utah's power needs are met by coal, the state Division of Air Quality says most of the state's air problems are caused by automobile exhaust.

The alliance contends Nevada should be a good neighbor and look to alternative forms of energy for its power needs.

The power plants would be built in eastern Nevada near the Utah border.

MBIA plunges after guarantees disclosed

MBIA fell the most since 1987 in New York trading after the world's biggest bond insurer disclosed that it guarantees $8.1 billion of collateralized debt obligations that investors say have a greater chance of losses.

"We are shocked management withheld this information for as long as it did," Ken Zerbe, an analyst with Morgan Stanley in New York, wrote in a report yesterday. "MBIA simply did not disclose arguably the riskiest parts of its CDO portfolio to investors."

More than $2 trillion of insured securities would lose their AAA ratings amid mass downgrades of bond guarantors. MBIA fell $7.07, or 26.17 percent, to $19.95 at the close of regular New York Stock Exchange trading.

WASHINGTON

Mortgage rates climb for second week

Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month.

The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. That compares with 6.11 percent last week and was the highest since averaging 6.2 percent the week of Nov. 21.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, rose to 5.79 percent from 5.78 percent last week.

For five-year adjustable-rate mortgages, rates increased to 5.9 percent, compared with 5.89 percent last week. Rates on one-year adjustable-rate mortgages moved to 5.51 percent from 5.5 percent last week.

NEW YORK

Pinnacle shares rise after casino opens

Pinnacle Entertainment shares rose Thursday after the company opened its Lumiere Place casino and entertainment center in St. Louis late Wednesday.

The casino has 2,000 slots, about 45 table games and a poker room. The complex also hosts two hotels with a total of 495 rooms, which will open next year. Pinnacle spent $507 million to open the casino, which is located by the Mississippi River in downtown St. Louis.

Pinnacle shares added $1.06, or 7.06 percent Thursday to close at $25.03 on the New York Stock Exchange.

Goldman Sachs analyst Betsy Gorton said opening night festivities at Lumiere Place on Wednesday convinced her that the local community may be very excited about the casino. She said the complex is unique, with distinctive interior and exterior designs.

Russian Orthodox believers accuse Coke

A group of Russian Orthodox believers has accused Coca-Cola of blasphemy through a marketing campaign showing the cross and onion-shaped church domes on outdoor refrigerators, Russian prosecutors said Wednesday.

Coca-Cola's local bottling subsidiary said its marketing approach was an attempt to promote Russia's culture, not offend people, a spokeswoman said.

She said it did not plan to drop the promotion and there had been no objections in other Russian cities.

NEW YORK

Treasurys rise on signs of shaky economy

Treasury prices closed higher Thursday, driven up by new signs of shakiness in the economy and worries that escalating pressures on bond insurers will further undermine credit markets.

The benchmark 10-year Treasury note rose 0.13 points to 101.81 with a yield of 4.02 percent, down from 4.03 percent late Wednesday. Prices and yields move in opposite directions.

The 30-year long bond rose 0.66 points to 108.97 with a yield of 4.45 percent, down from 4.47 percent late Wednesday.