Investment

The credit market is pricing in a 36% chance BP will default within five years as the oil giant deals with the fallout from the Gulf of Mexico disaster.

BP directors will face "testing questions" from schemes in the wake of the firm's decision to suspend dividends for the remainder of the year, the National Association of Pension Funds says.

George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.

Payden & Rygel Global has launched a Sterling Reserve Fund in a bid to provide institutional investors with better yields than those available from bank deposits and money market funds.

UK - Payden & Rygel Global has launched a Sterling Reserve Fund in a bid to provide institutional investors with better yields than those available from bank deposits and money market funds.

The National Association of Pension Funds has urged the government not to damage the UK's savings culture by back peddling on pension reforms.

The Pensions Regulator has issued guidance for trustees on assessing, monitoring and taking action on issues relating to their employer covenant.

Jupiter's IPO has been more than 2.5 times oversubscribed after a strong take-up from both institutional and retail investors.

US/UK - Financial legislation pending in the US threatens to overwhelm, emasculate, and undermine independence of the Securities & Exchange Commission, according to the watchdog's former chairman.

Defined contribution scheme members have seen annual pension income plummet by more than £1000 a year as a result of stock market falls since the beginning of May, Aon Consulting research reveals.