The chairman of scandal-tainted Sumitomo Corp., Tomiichi Akiyama, resigned in a symbolic gesture to atone for the firm’s $2.6 billion in copper trading losses, although he was immediately made a special advisor to the trading house. . . . Staples Inc. and Office Depot Inc. said they are rescheduling special shareholder meetings to March 7. . . . Marvel Entertainment Group Inc. appealed a U.S. Bankruptcy Court ruling that allows Marvel Holdings Inc. bondholders to foreclose on and vote 80% of Marvel Entertainment’s common shares.
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Times Staff and Wire Reports