News Headlines – Tuesday 16th October

Nat Rothschild has resigned from the board of London listed coal miner Bumi Plc. The resignation is the latest twist in the saga surrounding the company which has been rocked by corporate governance disputes, boardroom rifts and a plunging share price. Rothschild voiced his great regret in bringing its Indonesia backers to the capital and accused the chairman of betraying shareholders. The financier stepped down after a bust up over a £750m offer from key shareholders to cut ties with the company. Telegraph, FT, Independent

Workers who change jobs risk losing up to a quarter of their pension under plans by the government to allow employees to carry retirement funds with them. The DWP propose this scheme to prevent millions of small retirement pots lying dormant after people change jobs. Those opposing such plans say the scheme could significantly reduce the value of a pension because of the over the course of a person’s career it could involve money being transferred from good scheme with low fees and high returns into the poorly managed schemes with high charges and low returns. Telegraph

Berlin is now believed to be experiencing a property price boom. Despite the Eurozone crisis, prices have risen at an average of 37.5% since 2009 with many investors now looking to Berlin as a safe haven should the currency union fall apart. FT


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