Business Services Industry
UK Pension Funds Face UKpound 1 Billion Losses from Enron.
Knight Ridder/Tribune Business News, December, 2001
Daily Mail, London Knight Ridder/Tribune Business News
Dec. 5--Britain's largest company pension schemes face losses of up to UKpound 1 billion on their shares in collapsed US energy group Enron.
The group, which has secured a UKpound 1.1 billion lifeline from JP Morgan Chase and Citigroup, saw its UK retail operation Enron Direct sold to Centrica - which outbid a French rival - last night for UKpound 96.4 million cash. But Enron's debt is trading at just 40 pence in the pound.
The pension losses are a tiny fraction of the UK funds' total assets of UKpound 750 billion, but they add to the pressure on company schemes.
The industry holds around UKpound 37 billion in US shares. Enron, formerly one of America's largest companies, is...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express