EUROPE - France, Germany and Hungary are feeling the effects of industrial action as railway workers across the continent continue to stage strikes in protest over pension reforms in separate, albeit strongly related, incidents.

The global credit crunch has given asset manager Payden & Rygel Global an £800m boost after it impressed clients with its stringent due diligence processes.

French president Nicholas Sarkozy has criticised unions for holding ongoing strikes over public sector pension changes.

UK - Recommendations in today's Walker Report on private equity have been welcomed by industry bodies, but described as a "diversion" by the union Unite.

ARCH Financial Products is set to launch a private equity fund focused on Chinese energy assets at the start of December.

HEWITT Associates has launched a global risk services initiative in a bid to help sponsoring employers better understand their schemes.

THE PENSIONS Regulator was among finalists for the National Business Awards held last week.

DESPERATE members of the Pensions Action Group will hand over a letter to Gordon Brown at the end of their all-night vigil in Whitehall tomorrow.

PHILIPPINES - The Government Service Insurance System (GSIS) has appointed Citibank as global custodian for its US$1bn Global Investment Program (GIP).

UK - The Pensions Regulator is to act as monitor of personal accounts to be introduced in 2012, under proposals from Mike O'Brien, minister for pension reform.