Europe

EUROPE - Morley Fund Management, one of the UK's largest investment houses, is eyeing offices in Spain and Germany as part of a European expansion bid.

FRANCE - Unigestion has appointed Rolf Winzeler as marketing director of its private equity division.

UK - Thousands of retired coal miners and miners' widows are lobbying the government to use a £5bn pension fund surplus to boost their benefits.

UK - Unions are threatening industrial action at the chemical company Ineos over its decision to halve accrual rates in its final salary scheme.

UK - Fund managers in the UK are divided over a call by a leading consultant to align their benchmarks with pension liabilities.

UK - Schroder Investment Management claims companies have trimmed the excesses of the bubble years and are now lean and competitive.

UK - State Street Global Advisors is warning schemes not to expect double-digit returns from bond portfolios this year.

UK - Work and pensions secretary Andrew Smith has rejected calls for the government to compensate Maxwell Communications Pensions Plan members who have seen their benefits halved.

UK - The Society of Pension Consultants is urging the government to scrap VAT charges on the management fees of occupational pension funds.

UK - The number of senior executives offered money purchase pensions has risen from 5% to 40% in the past four years, a study by Lane Clark & Peacock reveals.