Japanese Prime Minister Shinzo Abe vowed to use force if necessary to defend islands also claimed by China as tensions rose over visits by his fellow lawmakers to a Tokyo shrine seen in Asia as a symbol of wartime aggression.
Synovus Financial Corp. settled a shareholder lawsuit over more than $200 million in bad loans to Georgia luxury resort Sea Island Co. that the investors say were approved with a “golf course handshake” between executives of the two companies.
Sea Island Co., the Georgia resort that aspired to be the “Pebble Beach of the East” before the financial crisis, said it reached an agreement to sell most of its assets to a group including Avenue Capital Group and Oaktree Capital Management LP.
Publisher Tribune Co. announced yesterday that mediation resulted in agreement with some creditors on a reorganization plan along the lines proposed earlier this month by creditors Oaktree Capital Management LP and Angelo Gordon & Co.
China’s navy received the first of its new frigate line as part of a military modernization campaign, the People’s Liberation Daily said, amid a dispute with Japan over East China Sea islands claimed by both sides.