No-frills funds that charge low fees and provide minimal feedback to members are at the core of a shake-up of Australia’s superannuation system proposed by a Federal Government review. (Courier Mail)

What is it about AMP and its new French ally, Axa SA, that they seem so set on disturbing the peace of Rick Allert’s weekends? Allert is the Adelaide networker of renown who chairs Axa Asia Pacific, the regional funds manager and insurance business that is coveted, but only in separate geographic pieces, by both its French parent and its Australian competitor. (The Australian)

Bar Cap will be deferring up top 40-60 per cent of bonuses (up from 24 per cent last year). (Telegraph)

US banking giant Citigroup has announced plans to repay $US20bn in government aid in a big step toward emerging from a massive bailout. (ABC)