China seizes control of Anbang Insurance as chairman prosecuted

BEIJING/SHANGHAI (Reuters) - The Chinese government on Friday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing's willingness to curtail big-spending conglomerates as it cracks down on financial risk.

from Reuters: Top News http://uk.reuters.com/article/uk-china-anbang-regulation/china-seizes-control-of-anbang-insurance-as-chairman-prosecuted-idUKKCN1G707C?feedType=RSS&feedName=topNews