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The S&P 500 flirted with an all-time high Thursday as equity markets continued their upward march in the wake of strong labor data and bullish market sentiment.

The head of Swiss banking giant UBS, Sergio Ermotti, was handed more 8.9 million Swiss francs ($9.3 million, 7.2 million euros) in salary and bonuses in 2012, according to the bank's annual report published Thursday.

Chinese banks cut back lending in February from January, official data showed, due to a tightening of liquidity and fewer working days last month because of the Lunar New Year holiday.

The London Stock Exchange Group on Thursday said it had agreed a revised takeover bid of LCH.Clearnet, wrapping up its long pursuit of the British clearing house.

China's market regulator said it will allow more types of financial institutions to invest yuan funds held offshore in domestic capital markets, in a long-awaited move to boost the stock market.

Britain's bailed-out Royal Bank of Scotland on Thursday posted its fifth straight annual loss for 2012, when it was hit by a string of scandals, but added that its boss would still take a deferred bonus.

Investors were wary on Wednesday after Italy's inconclusive elections gave a key role to an anti-austerity party that has ruled out joining a coalition government, setting the stage for a drawn-out stalemate.

US banking giant JPMorgan Chase plans to eliminate 19,000 jobs by the end of 2014 as it seeks to rein in costs, the company said Tuesday in an investor presentation.

Britain's troubled Barclays bank will axe at least 3,700 jobs this year, it announced on Tuesday after revealing that it plunged into the red in 2012 amid the notorious Libor rate-rigging crisis.

Barclays will cut at least 3,700 jobs this year and slash costs, the scandal-hit bank announced on Tuesday as it also revealed that it had plunged into an annual net loss amid the Libor rate-rigging crisis.

Barclays said on Tuesday it intended to cut at least 3,700 jobs this year and the bank, hit by the Libor rate-rigging scandal, added that it had plunged into an annual net loss.

London shares closed higher on Monday, boosted by demand for mining stocks amid signs of recovery in the global economy, dealers said.

Troubled bank Barclays is set to axe annual costs by £2.0 billion and cut 2,000 investment bank jobs, media reports said Monday on the eve of its 2012 results.

Swiss banking giant Credit Suisse said on Thursday its net profit fell 24 percent last year to 1.4 billion Swiss francs (1.2 billion euros, $1.5 billion) despite a rebound to profit by the investment banking unit.

Swiss banking giant Credit Suisse said Thursday its net profit fell 24 percent last year to 1.4 billion Swiss francs (1.2 billion euros, $1.5 billion) despite its investment bank unit rebounding into profit.

State-rescued Royal Bank of Scotland said it will pay fines totalling $612 million (453 million euros) to US and British regulators to settle allegations of Libor interest rate rigging.

State-rescued Royal Bank of Scotland will pay fines totalling $612 million (453 million euros) to US and British regulators to settle allegations of Libor interest rate rigging, it announced on Wednesday.

State-rescued Royal Bank of Scotland will pay fines totalling $612 million (453 million euros) to US and British regulators to settle allegations of Libor interest rate rigging, it announced on Wednesday.

The German government unveiled Wednesday tougher new banking rules which it hopes will help prevent financial crises in the future and make the banks themselves bear more of the responsibility.

The German cabinet approved Wednesday a raft of tougher new banking rules to shore up the financial sector against future crises and make banks and insurers shoulder more of the responsibility should they go bust.