US - Baxter International, a maker of intravenous drugs, has been sued by a pension fund over allegedly misleading public statements made about the company's business prospects.

EUROPE - FSA chairman Lord Adair Turner says the Basel III capital reserve rules imposed on banks are "too lenient".

Defined benefit liabilities across the world are likely to have increased to record levels this year, research by Mercer warns.

GLOBAL - Defined benefit (DB) liabilities across the world are likely to have increased to record levels in 2010, research by Mercer warns.

EUROPE - European asset managers need to cultivate investor interest in actively managed investment products and strengthen the resilience of their business models to improve post-crisis performance, a rating agency says.

AUSTRALIA - Mining companies should introduce a minimum superannuation contribution of 12% in any new workplace agreements, resources Minister Martin Ferguson said.

DENMARK - A consortium consisting of pension funds ATP and PFA Pension and insurance companies Folksam and CPDyvig has agreed to acquire FIH Erhvervsbank for DKK5bn ($879m).

GLOBAL - Emerging market debt's weak correlation with developed world bond markets means investors have a prime opportunity to enhance returns and reduce risk through diversification, Legg Mason affiliate Western Asset Management believes.

US - Unlicensed intermediary William "Bill" White has agreed to pay $1m to New York State as part of the ongoing investigation into pay-to-play practices at the New York State Common Retirement Fund (CRF).

NIGERIA - Nigeria plans to use 400bn naira ($2.6bn) from its pension funds to encourage foreign investment in its power industry, central bank governor Lamido Sanusi said.