NORWAY/UK - Kvaerner, the Norwegian conglomerate, has shot down allegations that it is trying to skirt its UK pension obligations on the back of the management buy-out of its British subsidiary earlier this year.
Kvaerner UK was sold to management just days before the Pensions Act came into force in April this year. Under the new regulations, if subsidiaries are sold with underfunded pension schemes, the Pensions...
NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show.
NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.
NORWAY - The Ministry of Finance has confirmed that Martin Skancke has resigned his position as head of the department overseeing the Government Pension Fund Global.
NORDICS - Nordic investors are continuing to show optimism in hedge funds with nearly a third planning to increase their exposure this year to strategies like global macro, event driven and long/short funds, a new report shows.
NORWAY - The Government Pension Fund Global was up 0.3% in the second quarter after rising bond prices helped to offset drops in the global equities markets.