News

JAPAN - Japan Airlines Corp., seeking its fourth state bailout since 2001, rose the most in the almost two weeks after the government said a state bank will provide a loan and that laws may be introduced to make it easier to cut pensions, Bloomberg News...

Logica UK has pulled out of the running for the personal accounts administration contract, the Personal Accounts Delivery Authority confirms.

US - The California Public Employees' Retirement System (CalPERS) plans to search for a new general investment consultant, and the incoming advisor will have to offer a broader scope of services than in the past.

NORWAY - The Government Pension Fund - Global raked in record returns of 13.5% in the third quarter, equating to a gain in assets of NOK325bn (US$58.2bn).

MEXICO - Financial services group Profuturo is set to acquire Scotia Afore, the Mexican pension fund business of Canada's Bank of Nova Scotia.

UK - Barclays has reported a one-off credit of £371m (US$620.1m) resulting from the closure of its UK final salary pension scheme to existing members.

US - The Employees Retirement System of the City of New Orleans (NOERS) has sued Warren Buffett's Berkshire Hathaway and Burlington Northern Santa Fe (BNSF) alleging Berkshire's planned acquisition of BNSF discriminated other investors.

UK - The High Court has ruled trustees cannot rely on the safety net afforded by the Pension Protection Fund when taking decisions.

More workers to delay retirement

About 1.8 million people are set to request to work after traditional retirement ages over the course of the next decade, Prudential research shows.