Synovus Financial Corp. investors, led by two pension funds, reached an $11.8 million settlement of a lawsuit against the bank over more than $200 million in soured loans to the Georgia luxury resort Sea Island Co., according to a court filing.
Verizon Communications Inc. was sued this week by the creditors’ representative of former unit Idearc Inc. in a complaint alleging that the 2006 spinoff was a fraudulent transfer designed to generate $9.5 billion for the second-largest phone company in the U.S.
A U.S. nuclear submarine is making a port call in Singapore as the Navy showcases its ability to operate in shallow coastal waters after questions about the fitness of its Littoral Combat Ship for use in Asia.
Defense Secretary Chuck Hagel meets Chinese President Xi Jinping today after being told the U.S. refocus to Asia won’t contain China or affect its claims to territory and resources disputed with American allies.
July 24 (Bloomberg) -- Matt Miller talks with Sea Island President Scott Steilen about the reemerging business of hospitality. They speak on Bloomberg Television's "Bloomberg Rewind." (Source: Bloomberg)