Europe

FRANCE - BNP Paribas has become the latest financial institution to scale back its pension team.

UK - The Pension Protection Fund has appointed a new chief investment officer to oversee its investment portfolio, which is currently worth more than £3bn.

EUROPE - Forced retirement at 65 can be justified under European law only if it is a "proportionate" means of achieving a legitimate employment policy, European judges have ruled.

UK - Listed private equity fund of funds SVG Capital has posted a decline in net assets per share of 64.3%, in what the company's chairman Nicholas Ferguson called "the most difficult period in the company's history".

NORWAY - Norway's domestically invested pension fund lost over 25% during 2008 in what it termed an "historically turbulent and challenging year".

FRANCE - BNP Paribas has backtracked on a statement made Wednesday by Michel Anastassiades, global chief executive of subsidiary FundQuest, about the state of negotiations over the Fortis acquisition.

FINLAND - The Finnish government's decision to increase the minimum age for pensions from 63 to 65 without consulting labour organisations first has sparked anger among unions and workers.

FRANCE- BNP Paribas believes Fortis shareholders who blocked its acquisition of the troubled bank have changed their stance and BNP will be able to successfully negotiate a deal by the March 6 deadline.

ITALY - The Italian government has laid out a draft law to increase the retirement age of women from 60 to 65 years old.

UK - Television company ITV is set to begin consultation with trustees and staff over possible changes to the defined benefit sections of its pension scheme.