Investment

People should be allowed to carry on working into their 70s and 80s, according to Harriet Harman.

US - TCW has sued its former investment chief Jeffrey Gundlach for allegedly stealing proprietary information in order to form his own firm, DoubleLine Capital, and alleged Gundlach stored pornographic materials and drugs at work.

2009 seems to have been a long year in the world of pensions - and a year many will, no doubt, be glad is over.

PP 100 - More than seven tenths of pension managers believe scheme closure is not the best way to deal with increasing pension fund deficits.

UK - Aberdeen has acquired £13.5bn (US$21.6bn) of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

Aberdeen has acquired £13.5bn of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

UK - National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

US -California governor Arnold Schwarzenegger equated the state's rising pension costs to a "locomotive" and pledged to make pension reform a priority in 2010 in his annual State of the State address yesterday.

GLOBAL - TCW's purchase of Metropolitan West Asset Management may be a predictor of things to come as independent firms will drive merger and acquisition activity in 2010, investment bank Jefferies said.