Europe

UK - OPRA has disclosed a second pensions liberator - Liverpool-based Glenworthy - which has also been put into wind-up.

UK - The Financial Services Authority is to simplify the listing rules for the London Stock Exchange, in light of the Enron and WorldCom accounting scandals.

US/UK - US corporate high yields are set to deliver robust returns during the next six months, providing the country can stave off a double-dip recession, according to Baring Asset Management (BAM).

UK - Abbey National is to close its stakeholder scheme to new business claiming most employers have designated providers by now.

NORWAY - The Nordic region's biggest bank, Nordea, is to slash its Q2 pre-tax profits by E152m in order to cover a bigger than expected pensions shortfall.

UK - Government proposals to make means tested benefits more generous for pensioners reduce the incentive for low paid workers to save in occupational schemes, the Institute for Fiscal Studies claims.

UK - Clerical Medical is considering redesigning its FutureProof range of group pensions 12 months after being forced to close to new business.

UK - Hedge fund managers have hit back at critics who have blamed them for causing stock market volatility through short selling.

FRANCE/KOREA - BNP Paribas Asset Management has signed a 50/50 joint venture deal with Korea's Shinhan Financial Group to set up a new investment trust management company.

ITALY - Sensitive negotiations over pensions reform in Italy are due to resume amid dire warnings of the demographic time bomb that awaits the country if it fails to act.