Round up - July 8

Swiss Re to join pension buyout market

The Telegraph

Swiss Re is to become the latest investment bank to enter the pension buyout market. It will launch a new division in September to offer services, including taking on companies' pension schemes and providing products to manage interest and inflation risk.

Asia sinks to lowest level this year

Financial Times

Asia Pacific shares fell to some of their lowest levels this year, as investors continued to worry that the credit crisis will get worse.

British Chambers of Commerce warns Britain is close to recession

The Telegraph

Britain is on the brink of a recession and unemployment is set to rise 300,000 by the end of next year, the British Chambers of Commerce says.

Hedge funds hit troubled banks with a hiring binge

Financial Times

The biggest hedge funds are hiring senior executives and traders from investment banks that have had to cutback.