US - United Parcel Service has issued $1.5bn in bonds to help fund contributions to its pension plan.
The company, the world's largest parcel delivery firm, intends to use the net proceeds of the debt, due in 2021 and 2040, together with $1.2bn of cash to make early contributions to a number of its primary domestic pension plans which are otherwise payable over the next five years.
UPS's US pensions were underfunded by $2.41bn as of December 2009 - up from $3.49bn in 2008. In 2007 it boasted a surplus of $2.49bn, according to its most recent annual report.
Its pension funding commitments total $1bn a year through 2012, it added, falling to $509m by 2013.
UPS was not available for comment.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.