Swiss bank UBS does not expect a recovery of client inflows anytime soon as it continues to struggle to rebuild its reputation after a bitter U.S. tax row even as its underlying performance improves.

AllianceBernstein LP said Thursday that lower revenue from investment advisory and service fees narrowed its third-quarter profit.

Axa SA said Thursday its revenue slipped 2 percent in the nine months to Sept. 30 after suffering a big drop in its U.S. life insurance and savings business.

Credit Suisse Group AG's forecast-beating third-quarter earnings were given a tepid reception by investors, wary that the bank's fat margins in investment banking could tempt back competitors.

Credit Suisse Group said it was upbeat about its prospects after exceeding third-quarter net profit forecasts by a wide margin thanks to a solid investment banking performance and good client inflows.

As Wall Street looks forward to a new era of blowout bonuses, the unthinkable is happening, at least at Credit Suisse, the big Swiss bank. It said on Tuesday that it would radically change the way it paid its employees, the New York Times reports.

The Internal Revenue Service's amnesty program, which ends at 5 p.m. EDT on Thursday, has seen 7,500 individuals come forward over six months, getting in before the IRS pursues them.

Recently released, the Global Financial Centres Index, which was created by the Z/Yen Group for the city of London, ranks 75 major financial centers in terms of their competitiveness on a global scale. Important factors to gauge a center's competitiveness include people, business environment, infrastructure, market access and general competitiveness, which includes measures such as occupancy costs, tax information and exchange agreements, for a total of 64 instrumental factors.

The global banking industry is a diverse landscape of financial services — consumer, corporate, investment — but with so many players in the marketplace, which are the best in each segment?

JP Morgan changed its preference to traditional, credit-exposed banks from investment banks after regulators pledged to toughen capital rules for financial institutions, Reuters reported Wednesday, quoting research by the bank.

Merger mania may not be quite in full swing. But the pace of deal-making is showing signs of rousing back to life after nearly a year.

Asia has already emerged more forcefully from recession than the U.S. and Europe and that  upturn  is starting to feed into the job market. Hiring is starting to pick up again, recruiters and bankers say.

More than a half-million option ARMs are scheduled to be reset in the next four years at rates many homeowners cannot afford, the New York Times reports.

In past global slowdowns, the United States invariably led the way out, followed by Europe and the rest of the world. But for the first time, the catalyst is coming from China and the rest of Asia, where resurgent economies are helping the still-shaky West recover from the deepest recession since World War II.

Nearly 10 more Swiss and other European banks holding wealthy US citizens accounts were identified using a tax-evasion amnesty program in the US, the Wall Street Journal reported on its Web site Wednesday.