Royal Liver backs takeover by Royal London: source
LONDON (Reuters) - Customers of British mutually-owned insurer Royal Liver have voted in favor of merging with bigger rival Royal London, a source familiar with the matter said.
The tie-up, which still requires regulatory approval, would create an enlarged customer-owned life insurer with about 45 billion pounds ($71.72 billion) in assets under management.
Royal Liver members backed the proposed merger at the society's annual general meeting earlier on Thursday, the source said.
NEW YORK - Federal prosecutors are developing a criminal fraud case hinged on whether General Motors made misleading statements about a deadly ignition switch flaw, and are examining activity dating back a decade, before GM's 2009 bankruptcy, according to multiple sources familiar with the investigation.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.