Business news for Fri, 21 Dec 2007 & with word committed. 2 news.

SAN FRANCISCO (MarketWatch) -- A consortium of Bank of America Corp. , Citigroup Inc. and JPMorgan Chase & Co. decided not to proceed with a plan to create a master liquidity enhancement conduit, or M-LEC, the Bank of America said Friday. The vehicle, which was aimed at alleviating liquidity shortage in the short-term credit market, was backed by the U.S. Treasury. The banks will continue to monitor market conditions and stated that they remain committed to work on appropriate solutions, including launching the MLEC if needed. The banks had retained BlackRock Inc. as an advisor.

CHINA Eastern Airlines Corp and Singapore Airlines are fully committed to the agreed upon sale price of HK$3.80 a share, officials from the two carriers said in Shanghai yesterday. "This is the only and final plan that has been approved by the Chinese government, and to achieve the plan has become our task," Luo Zhuping, China Eastern's board secretary, said in response to Air China's potential to disrupt the deal. "We only choose to work with top companies, which can improve our products and mechanism, and we believe the restructuring of state-owned enterprises requires opening up," Luo said. Singapore Airlines Ltd and its parent Temasek Holdings Pte signed an agreement last month to buy 24 percent of China Eastern Airlines Corp at HK$3.80 a share. Under the terms of the deal, Singapore Airlines will spend HK$4.7 billion (US$602.48 million) on a 16-percent stake in China Eastern, and Temasek will buy an 8.3-percent stake for HK$2.5 billion. China