Young Brits entering the workforce today face a "monumental savings challenge", the International Longevity Centre-UK said in a report published on Thursday, and picked up by the Financial Times. According to the report, young workers in the UK will need to put away 18 per cent of their earnings each year in order to have an "adequate retirement income", a higher proportion of their earnings than their counterparts in any other OECD country. Adequate retirement income is defined as around two-thirds of a person's average pre-retirement salary. Two British former traders at Rabobank had their convictions overturned by a US appeals court in the first successful quashing of offences stemming from the global Libor-rigging scandal, the FT reports. In a judgment that underscores the legal tensions that can arise from transatlantic investigations where there are both criminal and regulatory elements, the US Court of Appeals for the Second Circuit on Wednesday overturned both the conviction and indictment of Anthony Allen and Anthony Conti, who worked for Dutch lender Rabobank. They had received jail sentences of two years and one year respectively, deferred pending appeal, after being convicted in 2015 in a New York court of manipulating Libor and wire and bank fraud. For investors, policymakers and regulators, Europe's €1 trillion non-performing loan problem is at a critical point. Last week, EU finance ministers made new recommendations designed to speed up the development of a market for the debt, which has stymied the region's economy for years, the FT reports. But the market, has been evolving of its own accord. Last week, Bain Capital announced new deals in Spain and Portugal, and on Monday UniCredit finalised a sale of bad loans to Pimco and Fortress. In addition to equity investors, debt financiers are also increasingly active.