EUROPE - A record 234 companies defaulted on US$178bn (£109bn) worth of corporate bonds worldwide last year, research by ratings agency Standard & Poor's shows.
A total of 220 companies defaulted on US$119bn worth of debt in 2001.
S&P said the global default rate increased gradually last year with 3.63% of all companies rated by the agency defaulting compared with the previous record of 3.49% set in 2001.
Investment-grade companies defaulted in record numbers during 2002, with 0.5% defaulting compared with the previous record of 0.24% for 2001.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.