Newsmakers

Despite BP's Hopes for SWF Backing, Abu Dhabi Is Hesitant

BP Chief Executive Tony Hayward’s tour of the Gulf last week increased speculation that the company is looking for investment from sovereign wealth funds (SWFs) and other state entities in the region, yet Abu Dhabi is reluctant to invest in the company, a report said.

Puerto Rico's Pension Funding Ratio Falls Below 10%

Hector Mayol, the system’s Administrator, notes that required benefit payments are eating into investable capital, but that the Commonwealth’s Governor is now setting his sights on the pension problem.

BP Hopes for SWF Backing

The oil giant is approaching sovereign wealth funds in the Middle East and Asia to defend itself against takeover bids.

Whisky to Plug Pension Deficit

Diageo has found a creative way to plug its growing UK pension hole: Fill it with £430 million ($642 million) worth of Scotch from its distilleries in Scotland.

G20 Leaders Pushed to Fight for Shareholder Rights

In letters to Canadian Prime Minister Stephen Harper and Chung Un-Chan, prime minister of South Korea, the International Corporate Governance Network urged G20 leaders to recognize the intrinsic role of institutional investors in reforming shareholder rights.

No Revenue Without Conviction

Directionless investors are conspiring with weak macro-economic conditions to unsettle a business model dependent not just on activity, but short selling, leverage and spreads, says Dominic Hobson, editor in chief of Global Custodian.