Europe

UK - British Airways will present plans for a restructure of its defined benefit schemes to The Pensions Regulator next month after it concluded talks with trade unions over its £3.7bn (US$5.3bn) deficit.

NORWAY - Norges Bank has appointed State Street Corporation to provide fund administration services for the real estate portion of the Norwegian Government Pension Fund.

UK - The new coalition government has confirmed auto-enrolment into workplace pension schemes will go ahead.

UK - Cutting back public sector pensions would lead to an almost immediate £8bn (US$11.45bn) cost to the taxpayer, the Chartered Institute of Public Finance and Accountancy said.

CHINA/UK - China's National Council for Social Security Fund (NCSSF) has awarded an active European equity mandate to Newton, a BNY Mellon Asset Management unit.

UK - The Local Government Pension Scheme is currently unaffordable and will wither away unless radical action is taken, delegates heard.

UK - Jupiter Asset Management has unveiled plans to list on the London Stock Exchange next month, which could potentially value the group at up to £1bn (US$1.44bn).

ITALY - State Street Corp. has completed its €1.28bn (US$1.6bn) cash purchase of Intesa Sanpaolo's Securities Services business (ISPSS), including the firm's custody and fund administration units.

US - The French government is studying a combination of a longer working life and new taxes on high earners to stem losses in the country's pension system.

UK - Man Group has agreed to acquire GLG Partners in a deal worth US$1.6bn.