News

Sainsbury and Delta Two closer on pensions; Post workers plan more strikes as small businesses face ruin; King dampens hopes of early rate cut; Slower pay growth and reduced City profits force hefty borrowing increase

INSURANCE companies which offer deferred self-invested personal pensions with outsourced administration have been accused of "jumping on the SIPP bandwagon" by a specialist provider.

INCLUDING: JAPAN - Mitsubishi drives into China; ITALY - Central bank wants to increase retirement age; JAPAN - New pension council set up

AUSTRALIA - Superannuation funds have significantly increased their currency hedging as a result of the strong dollar, according to a nabCaptial survey.

AUSTRALIA - Australian treasurer Peter Costello has stressed the value of maintaining a connection with the workforce by improving superannuation.

UK - Pest control firm, Rentokil Initial, has awarded a £340m mandate for UK corporate bonds to Standard Life Investments.

EUROPE - The European Commission's acceptance of proposed amendments to the portability directive has been criticised in some legal circles as a backward step.

UK - Having already blasted the private equity sector for creating unfunded pension liabilities, the GMB trade union has now slammed changes to capital gains tax rates.

LATIN AMERICA - A Chilean investment fund and a number of Colombian pension funds have bought into a local power plant.

US - The California Public Employees' Retirement System (CalPERS) has urged fellow Sara Lee shareholders to back its resolution pushing for the right to amend company bylaws.