U.S. stocks closed out their best year in more than 15 on Tuesday, rising modestly on a strong consumer confidence reading that kept 2013's upward bias intact to the end.

Private equity firms are increasingly seeking to partner with U.S. companies rather than buying them outright, as they struggle to find ways to put their huge piles of money to work at a time when frothy markets have made takeovers expensive.

The world economy should snap a three-year stretch of slowing growth in 2014, although the upturn over the next 12 months looks likely to be incremental rather than a leap forward.

The 18.6% increase in the shares of listings backed by private equity firms will fuel the demand of institutional investors as more public debuts are being planned, the Financial Times reported.

US bank regulators said they would consider allowing banks to hold on to complex securities despite the Volcker rule prohibiting them from owning such and would arrive at a decision in the middle of January.

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.

Local buyout funds like MBK Partners and Vogo Fund are now leading the domestic buyout market in South Korea just nearly a decade after its first private equity fund was established in the country, the Financial Times reported.

Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.

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.