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S&P warns 15 eurozone countries risk downgrades

Credit ratings agency Standard and Poor’s has warned that 15 of the 17 eurozone countries, including France and Germany, could see their ratings downgraded if efforts to resolve the sovereign debt crisis do not take effect soon.

The eurozone’s six AAA members, which include Germany, France, Austria, Finland, the Netherlands and Luxembourg, have been put on negative creditwatch and may be downgraded to AA+.

The Financial Times says France and Germany have agreed “comprehensive” new fiscal rules for the eurozone to help save the single currency, although details of the proposals are scarce.

But the FT says they include a commitment not to force private sector bondholders to take losses on any future eurozone bailouts.

It says along with strict budgetary measures announced by Italian prime minister Mario Monti, the proposals are designed to form part of the “fiscal compact” demanded by the European Central Bank to enforce budgetary discipline in the EU.


Aberdeen proposes multi-manager fund mergers

Aberdeen Asset Management is proposing to merge three equity multi-manager funds into the Aberdeen Multi-Manager equity managed portfolio. The three funds Aberdeen proposes to merge with the multi-manager equity managed portfolio are the multi-manager UK growth portfolio, the multi-manager international growth portfolio, and the multi-manager emerging markets portfolio. Aberdeen has also proposed to merge two […]

NAPF wants 2017 auto-enrol review postponed

The National Association of Pension Funds is calling for a delay to the 2017 review of auto-enrolment, following the Government’s decision to postpone the extension of the scheme for small businesses. Any employer that is expecting to auto-enrol their staff after July 2013 could see their staging date pushed back. This could include businesses with […]


Standard Life accused over ‘win an iPad 2’ IFA client letter

Standard Life has been accused of attempting to take direct business from IFAs through a client letter mailshot. A letter sent directly to Standard Life customers says they could win an iPad 2 by filling out two pages of personal details. On the final page, the provider asks the client to fill out the name […]


Time to give Japan another look?

The world’s financial markets are fixated on the issues of European sovereign debt. The inability of politicians to get a grip on the situation is allowing markets to dictate the pace as Greece, Italy and now Spain fall into the spotlight. But on the other side of the world, there is another highly indebted country […]

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In Focus — February 2015

Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.


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