News

Cutting back public sector pensions would lead to an almost immediate £8bn cost to the taxpayer, the Chartered Institute of Public Finance and Accountancy says.

UK - Cutting back public sector pensions would lead to an almost immediate £8bn (US$11.45bn) cost to the taxpayer, the Chartered Institute of Public Finance and Accountancy said.

Details of the independent commission charged with reviewing the sustainability of public sector pensions could be revealed as early as Friday, a senior civil servant says.

CANADA/US - OMERS Private equity has completed its acquisition of United States Infrastructure Corporation (USIC).

US - The California Public Employees' Retirement System, the largest US public pension, wants an extra US$600.7m from the state, which is confronting a $19bn budget deficit.

Council pensions chief calls for cap

European markets have tumbled following a ban on naked short-selling in Germany.

Statisticians at J.P. Morgan have applied the investment bank's in-house quantitative analysis techniques to the world of football...and concluded Fabio Capello's England will emerge victorious in South Africa this summer.

European Union finance ministers have backed controversial new rules for hedge funds and private equity firms.

EUROPE - The European Union (EU) Council has given its presidency a mandate to negotiate a final draft of Alternative Investment Fund Managers (AIFM) directive with the European Parliament (EP), the final step before an expected approval in July.