Regions

EUROPE/UK - A European Union directive which would give fixed-term workers the same pension rights as full-time employees has been lambasted by industry experts.

UK/GLOBAL - British pensions schemes are closing the gap on their overseas counterparts in the use of UK private equity at an "unprecedented" rate, new figures show.

Europe - Troubled group Zurich Financial Services (Zurich) has finally tied up its transactions with Deutsche Bank, including the sale of some its European fund management operations.

SWITZERLAND/GLOBAL - Credit Suisse Group (CSG) recouped some losses during the first quarter 2002, but still fell nearly US$1bn short of net profits compared to the same period last year.

GLOBAL/US - Institutional investors, including pension funds, are turning their backs on US stocks, according to new research from Merrill Lynch Investment Managers.

GLOBAL - Pension funds and other investors looking to protect themselves from inflation should be wary of inflation-linked bonds, warns the World Gold Council.

NORWAY/GLOBAL - Norges Bank Investment Management is tendering new global external active mandates for the giant Norwegian Government Petroleum Fund (Statens Petroleumsfond), with a combined value of US$5.5bn.

SWITZERLAND/GLOBAL - Swiss financial group UBS posted a 14% decrease in first quarter net profits for 2002 after figures were bruised by losses in its private equity and investment banking businesses.

GLOBAL/UK - Actuarial and investment consultancy Punter Southall (Punter) - a unit of South African group Sanlam Financial - is to merge with UK-based actuarial consultants, BGJ & Co.

GLOBAL - Schroder Investment Management believes that the Japanese equities are facing a turnaround in fortune and are on the way up.