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How to avoid tax creep in retirement

The state pension went up 8.5% in April, but frozen thresholds mean pensioners will be paying more tax

BUZZ-Vesuvius: broker downgrades spur worst day in a year

Reuters - UK Focus

** Vesuvius (LSE: VSVS.L - news) nursing 5.7 pct drop, top of the FTSE 250 fallers' list & poised for biggest one-day decline since March 2014 as JPMorgan (LSE: JPIU.L - news) & Investec cut ratings amid slippage in US steel production

** Both brokers rated at four stars for recommendation accuracy on Vesuvius, StarMine shows. Co makes ceramic moulds & linings for steelmakers & foundries

** JPMorgan downgrades to "neutral" vs "overweight" on the weak US steel production & valuation (stock up 15% over last 12 mths vs avg increase across JPM's universe of

** JPM not expecting significant bounce in steel production near-term amid slowing economic growth, particular weakness in oil & gas industry capex spending & also in areas like agricultural equipment

** Investec (LSE: INVP.L - news) cuts rating to "hold" vs "add" (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)