Europe

UK - The Inland Revenue has won a Court of Appeal battle against a director who sought a tax-free lump sum pension while continuing to work as a non-executive.

UK - Rating agency Standard & Poor's has removed Aegon and its related subsidiaries from credit-watch following the company's successful capital restructuring.

UK - Frank Manduca has been hired to manage the UK small cap equity team at UBS Global Asset Management.

UK - Struggling aerospace manufacturer British Aerospace (BAe) has seen its FRS17 pension deficit rise by nearly £900m to £1.3bn since the beginning of the year.

UK - The number of fund managers offering defined contribution products is set to shrink as firms review their "unprofitable" businesses.

UK - State Street is to buy the performance measurement firm the WM Company from Deutsche Bank. it has emerged.

UK - KPMG Pensions is to hold a breakfast seminar on issues in the pensions industry in London on October 2.

UK/US - US fund managers have increased their market share of UK pension fund investments over the past year.

UK - Unequal pensions benefits are one of the key issues prompting strikes by London Underground workers.

UK - Aegon Asset Management has won a £14.4m bond mandate from the Yell Pension Plan.