A holiday shopping season slump failed to materialize in the UK as shoppers flocked to stores on Boxing Day, giving British retailers a boost, The Telegraph reported.

While shoppers in the UK and the US spent more for the holidays this year, the profit margin for retailers remains in doubt due to steep discounts, the Financial Times reported.

The problems of Britian-based insurer RSA is a reminder that politicians, regulators and the general public should also put the spotlight on insurance companies and not just banks.

The American Bankers Association, a group that represents mostly community banks, has filed a complaint challenging the final version of the Volcker Rule, Bloomberg reported.

Moody's Investors Service says that the announcement on 24 December by Woori Finance Holdings Co., Ltd. (WFH) that NongHyup Financial Group Inc. (NH FG) is the preferred bidder to acquire Woori Investment & Securities Co Ltd

A report said the wave of hotel initial public offerings of Blackstone Group showcased a resurgence in one of the sectors that suffered the most during the recession, the hospitality industry.

In spite of the steep price cuts offered, consumers in the US did not do a lot of shopping in brick-and-mortar stores on the weekend before Christmas, Reuters reported.

During the financial crisis when the deal markets were quiet, banks parted ways with their senior investment bankers. Now that business has slowly revived, lenders are seeing that they are left with junior bankers that are a little wet behind the ears.

Investors have received billions of euros from European companies so cautious about the economic outlook they could find nothing better to do with spare cash, but many now want boards to snap up rivals instead - and are rewarding them when they do.

Every day, through eyes clouded by glaucoma, Peter witnesses the spending power generated by Singapore's economic success, knowing he can only afford to look.