Europe

UK - Sainsbury's has been accused of "short-changing" scheme members by paying reduced employer contributions while the fund is in deficit.

UK - Stakeholder pensions are not suitable for established members of occupational schemes, a new FSA study admits.

UK/EUROPE - Deutsche Asset Management has made former Rothschild Asset Management chief executive Paul Manduca head of its European operations.

UK - Software specialist Aqera and business solutions company Business Objects have unveiled a new package which, they say, helps financial advisers eliminate product mis-selling.

UK - The number of people who will face hardship in retirement is soaring, new research by JPMorgan Fleming shows.

UK - Liberty Ermitage (Liberty) has appointed Jonathan Wauton to the new role of head of risk management and quantitative analysis.

UK - Retail giant John Lewis is giving employees the choice of closing the defined benefit scheme to new members or having their bonuses cut.

NETHERLANDS/BELGIUM - Fortis Investment Management has hired Patrick Van de Steen and Jacques Joakimides as managing director, head of marketing, and head of European convertibles respectively.

UK/EUROPE - Schemes should avoid European stocks while economic growth remains uncertain, Barclays Global Investors claims.

UK - Northern Venture Managers (NVM) has backed the eight-figure management buy-out (MBO) of East Yorkshire-based Horncastle Industries.