Europe

UK/US - Barclays Global Investors' (BGI) assets under management increased 12% in the first six months of the year, with the firm's iShares business experiencing the fastest growth, its UK-based parent company Barclays reported today.

UK - Pension scheme deficits have failed to improve despite significant rises in equity markets, latest research revealed.

UK - British Telecom pension scheme deficit grew by £3bn (US$5bn) over the last quarter after the telecoms giant reviewed its accounting assumptions.

UK - A High Court test case involving the Ilford Pension Scheme will determine if trustees owe any duties to the Pension Protection Fund, lawyers said.

Losses at airport operator BAA have tripled in the first six months of the year, partly due to a growing defined benefit scheme deficit, its results showed.

ITALY - Italy's largest pension fund Fondo Cometa has hired MangustaRisk to conduct what could be the year's largest manager search in Europe.

UK - The Universities Superannuation Scheme's funding level dropped by 29 percentage points due to losses on investments, and increases in salaries and pensions, its 2009 accounts revealed.

UK - Lloyds Banking Group could potentially close its final salary pension scheme to existing employees, as it reviews its total rewards package.

UK - The proposed merger of the Faculty and Institute of Actuaries has failed to garner enough votes to go ahead.

UK - Directors of FTSE100 companies will have to pay more than £50,000 a year in additional tax from 2011 until they retire because of the tax-relief restrictions, a report by Lane Clark & Peacock revealed.