Legal & General, the UK insurer, announced a £1.8 billion longevity-swap deal with BAE Systems this morning — the third such pensions transaction announced in the past fortnight.

BAE Systems previously covered £3.2 billion of its pensions liabilities against rising life expectancy with Legal & General in February this year. That transaction related to the BAE Systems 2000 Plan, the largest of the defence group's pension schemes.

Legal & General longevity swap is third in two weeks

Follow-on deal with BAE Systems comes on the heels of transactions announced by AstraZeneca and Carillion

Mark Cobley

Legal & General

AstraZeneca

Deutsche Bank

Hannover Re

Newton IM’s latest big name exit, and Citi’s investment in ETF platform

Citi makes investment in European ETF platform HANetf

Newton IM’s global distribution head TJ Voskamp to leave

Senior GIC private equity lawyer joins Dechert in London

https://images.fnlondon.com/im-14432569?size=1.5

US law firm hires private equity specialist from key client

Barclays poaches Citi managing director for wealth private credit push

https://images.fnlondon.com/im-30083951?size=1.21

Dale Walsh will accelerate growth of the private bank and wealth management’s lending business

Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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Regulators fined the fast-fashion retailer more than $40 million for what they deemed to be misleading practices on prices and environmental claims.

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Keir Starmer initially refused to confirm if Rachel Reeves would remain in post, causing sterling and gilts to sell off sharply.

U.K. Government Bonds, Pound Recover After Prime Minister Backs Treasury Chief

The narrow vote delivered the president a major second-term legislative victory.

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The deal with Vietnam seeks to stop Chinese-made goods from transiting through the Southeast Asian country to avoid higher duties.

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Hot weather and lax dress codes have us baring more at work.

By Callum Borchers | Photographs by Lucia Buricelli for WSJ 

It’s the Summer of Too Much Skin at the Office

Ford chief predicts AI will replace “literally half of all white-collar workers.”

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The precision-measurement company has withdrawn its recommendation for its previously agreed takeover offer from Advent International.

Spectris Agrees to $5.64 Billion KKR Takeover

Spectris Agrees to $5.64 Billion KKR Takeover; Withdraws Advent Recommendation

The dollar lost momentum ahead of an expected decline in U.S. job creation, as investors expect the Fed to start cutting interest rates in coming months.

Dollar Trims Gains as Investors Brace for Cooling Jobs Market

The tech giant has been ramping up efforts to boost business growth in a bid to defend its place in China’s tech and commerce industries, as well as grow abroad.

Alibaba Readies $7 Billion Boost for Commerce Unit, Plans New Data Centers

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