- Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap (BBG)
- Kerry Plans Middle East Speech as Israel Moves to Ease Tension (BBG)
- Japan Looks to Smooth Over Past as New Threats Arise (WSJ)
- Israel backs off East Jerusalem settlements (Reuters)
- House Flipping Makes Comeback as Home Prices Rise (WSJ)
- Airbus’s A380 Woes Deepen as Top Buyer Emirates Delays Jets (BBG)
- Delta Drops Boeing 787 Order Inherited From Northwest (BBG)
- As Populists Won 2016 Ballots, World’s Richest Made $237 Billion (BBG)
- Britons Hoard Cash as Economic Uncertainties Prompt Caution (BBG)
- Manhattan Luxury Co-Ops Fall Out of Favor (BBG)
- Turkey and Russia have ceasefire plan for Syria, says Ankara (Reuters)
- China Banking Official Urges Cut to Required Reserve Ratio (BBG)
- French police arrest man suspected of planning New Year’s eve attack (Reuters)
- How to Make Money Rebuilding Reputations: Destroy Them First (BBG)
- No Happy New Year in China as Currency, Liquidity Fears Loom (BBG)
- U.S. Accuses Three Chinese Traders of Hacking Law Firms (WSJ)
- Investors Find China’s Markets Tamed, but Not Tempting (WSJ)
- Wells Fargo Is Trying to Fix Its Rogue Account Scandal, One Grueling Case at a Time (WSJ)
Overnight Media Digest
WSJ
– Three Chinese traders earned more than $4 million in illegal profits after they hacked into the computer systems of prominent U.S. law firms and stole non-public information on mergers and acquisitions, U.S. prosecutors said. http://on.wsj.com/2hrE2Gl
– Airbus Group SE for the second time this year is cutting production plans for its flagship A380 superjumbo and now faces the prospect of losing money on the plane again already next year. http://on.wsj.com/2hrALXg
– BP Plc has agreed to buy the Australian fuels business of Woolworths Ltd for 1.79 billion Australian dollars ($1.29 billion), in the latest move by the British oil company to rebuild following the deadly Deepwater Horizon disaster. http://on.wsj.com/2hrCf3H
– Shopping malls across the United States were taking additional security precautions Tuesday following a string of disturbances the day after Christmas that resulted in minor injuries, evacuations and scores of arrests. http://on.wsj.com/2hrBLL8
– Volkswagen AG’s financing arm has acquired a Canadian mobile payments company, the latest move by a carmaker investing heavily to compete in a mobility arms race that is heating up in the auto industry. http://on.wsj.com/2hrxbMM
– South Korea’s antitrust watchdog fined Qualcomm Inc $852.9 million for alleged antitrust law violations as the U.S. chip maker faces global scrutiny over its patent-licensing business. http://on.wsj.com/2hrIjJL
– Panasonic Corp said it expects to invest more than 30 billion yen ($255.10 million) in a Buffalo, New York, plant that will make photovoltaic cells and modules for Tesla Motors Inc. http://on.wsj.com/2hrEgx1
FT
Russia’s Gazprom said on Tuesday it has filed proposals to Brussels in an effort to resolve a five-year EU case over the Russian gas giant’s alleged monopoly practices.
Sports Direct said it sold the rights to British sportswear brand Dunlop to Japan’s Sumitomo Rubber Industries for $137.5 million as part of a strategy to home in on its core business and develop brand relationships.
European planemaker Airbus Group SE said on Tuesday it was postponing the delivery of 12 A380 superjumbos to Emirates Airline over the next two years, and added it would accelerate cost cutting programmes to minimise the impact of these delays.
The London Stock Exchange Group Plc is expected to announce this week the sale of its French clearing arm to Euronext NV in a cash deal worth about 510 million euros ($533.61 million).
NYT
– Carrie Fisher, the actress who portrayed the role of Princess Leia in the “Star Wars” movie franchise, died on Tuesday morning aged 60. nyti.ms/2i5xGwR
– In a last-chance effort to shape the outlines of a Middle East peace deal, Secretary of State John Kerry will outline the Obama administration’s vision of a final Israeli-Palestinian accord based on bitter lessons learned from an effort that collapsed in 2014. nyti.ms/2i5HFCb
– Russia is for the first time conceding that its officials carried out one of the biggest conspiracies in sports history: a far-reaching doping operation that implicated scores of Russian athletes, tainting not just the 2014 Winter Olympics in Sochi but also the entire Olympic movement. nyti.ms/2hvniQ7
– Security surrounding the inauguration of Donald Trump is proving to be the most challenging in recent history, according to senior officials involved in its planning, largely because of the same forces of political rancor that shaped the race for the presidency. nyti.ms/2hM830X
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– Donald Trump has renewed his defense of his charitable foundation, insisting on Twitter that all of the money raised by the organization has gone to charity even as the New York Attorney General continues to investigate claims to the contrary. nyti.ms/2ifEOYa
Canada
THE GLOBE AND MAIL
** The federal government is looking to boost the amount it contracts out to startups as part of its attempt to spur on Canada’s emerging technology sector and create economic growth. https://tgam.ca/2hnO33S
** A British Columbia judge has ordered correctional officials to amend a program that allows prison staff to isolate inmates whose behaviour they deem problematic, saying the program deprives inmates of procedural fairness. https://tgam.ca/2hnLChV
** British Columbia Deputy Premier Rich Coleman believes in the long-term prospects for exporting liquefied natural gas from British Columbia, saying patience is a virtue during an industry slump. https://tgam.ca/2hnJLcY
NATIONAL POST
** BlackBerry Ltd may not be focused on smartphones anymore, but that doesn’t mean the marketplace will stop seeing new devices with its brand. TCL Communication Technology Holdings Ltd announced it will unveil its new BlackBerry branded smartphones at the upcoming International Consumer Electronics Show in Las Vegas in early January. http://bit.ly/2hnKWca
** While the Canadian oilpatch is fixating on crude oil pipelines, natural gas player Seven Generations Energy Ltd is eager to see some movement on natural gas pipelines to tap the Asian market. http://bit.ly/2hnMkeW
** President-elect Donald Trump’s attacks during the 2016 U.S. presidential campaign were directed toward Mexico and China, and not his country’s largest bilateral trading partner, Canada, yet they could still present a challenge for Canadian business if he acts on them. http://bit.ly/2hnNyqt
Britain
The Times
* Royal Bank of Scotland Group PLC could nearly halve the bonus it pays its boss as the state-backed lender looks to clamp down even further on executive pay. http://bit.ly/2hjHVJR
* Britain could be better off outside the European Union single market and should take advantage of the “many opportunities” of Brexit, according to the former governor of the Bank of England, Lord King. http://bit.ly/2hqWIWw
The Guardian
* Sports Direct is selling Dunlop, the sportswear brand known for its green flash tennis shoes, to a Japanese buyer, Sumitomo Rubber Industries, in a surprise $137.5 million deal. http://bit.ly/2huM6aE
* A Labour government could boost the National Health Service by committing a specified proportion of national wealth to fund it and setting up a new independent body to ensure ministers give it the money it needs, shadow health secretary Jonathan Ashworth has said. http://bit.ly/2ioJurC
The Telegraph
* The Armed Forces have begun secretly preparing for another round of defence cuts despite the recent boost in funding, the Daily Telegraph can reveal. Senior defence sources have disclosed that there is not now enough money available for the various spending commitments already made and therefore more savings are necessary. http://bit.ly/2ioJ8S8
* Donald Trump and Theresa May have vowed in phone calls to “build on the legacy of Ronald Reagan and Margaret Thatcher,” according to Britain’s ambassador in Washington. http://bit.ly/2i59drH
Sky News
* Labour Party leader Jeremy Corbyn has hit back at Barack Obama after the outgoing U.S. President suggested Labour under his leadership had disintegrated and lost touch with reality. http://bit.ly/2i3E2Ng
* Voters will have to show proof of identification before casting their ballot, in a pilot scheme to stop electoral fraud. A trial of the ID scheme will take place at a number of polling stations across England in the local elections in 2018. http://bit.ly/2hiIqUz
The Independent
* Romania’s president has rejected the nomination of the country’s first ever Muslim candidate for prime minister. President Klaus Iohannis said he had “carefully weighed the arguments for and against” of appointing Sevil Shhaideh and had decided not to accept her nomination. http://ind.pn/2hKD9WX
via http://ift.tt/2hNjeGG Tyler Durden