Insurer AIG says it will not join a $25bn (£16bn) lawsuit against the US government, which alleges that the terms of its rescue deal were unfair.

Rolls-Royce Motor Cars, which is owned by BMW, reports record car sales for the third year in a row, though its growth rate slows.

The Pensions Regulator plans to ensure higher standards for the running of defined contribution pension schemes.

Foxconn, one of the world's biggest contract electronics maker, says it is being investigated by Chinese authorities over bribery allegations.

A rise in bank shares helps London's FTSE 100 index end the day up 45 points at 6,099 - its highest close since May 2008.

China reports better-than-expected trade data, adding to hopes that growth in the world's second-largest economy may be on the rebound.

Tesco reports 1.8% growth in underlying UK sales over the Christmas period, which is its fastest growth rate for three years.

Swatch Group, the world's biggest watchmaker with brands such as Breguet and Omega, reports a better-than-expected rise in sales for 2012.