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.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.