The Bank of Japan’s unprecedented monetary easing will fail in its goal of spurring 2 percent inflation, according to Takahiro Mitani, president of the fund that manages the world’s largest pool of pension savings.
Japan’s 121 trillion yen ($1.21 trillion) pension fund needs more independence from bureaucrats and should put some of the world’s biggest retirement savings pool into private equity and commodities, an expert panel said.
Senator Orrin Hatch is pushing an overhaul of public pensions that would let life insurers grab a bigger share of the $3 trillion in state and local funds, a potential windfall for companies such as MetLife Inc. and Prudential Financial Inc.
Anglo American Plc and Lonmin Plc , who employ 100,000 people in South Africa, say the government has deprived them of mine rights, threatening investment and job creation in the country’s biggest export industry.
The U.K.’s Financial Services Authority recommended that companies offering investments described as “guaranteed,” “protected” or “secure” should be required to state precisely what those terms mean, the Financial Times reported.