- World stocks at 21-month highs on Yellen, U.S. outlook (Reuters); Dollar notches longest run of gains in five years before CPI data (Reuters)
- Nervous About the ACA, GOP Divisions Emerge Over Repeal Effort (BBG)
- Flynn Probed by FBI Over Calls With Russian Official (WSJ)
- Russia Questions Mount for Trump White House Reeling From Flynn Fallout (BBG)
- Trump knew for weeks aide was misleading over Russia (Reuters)
- U.S. Drops Insistence on Two-State Solution in Mideast (WSJ)
- Trump to welcome Netanyahu as Palestinians fear U. S. shift (Reuters)
- Yellen Sets High Hurdle for Reducing Fed's Massive Bond Holdings (BBG)
- Why the Trump Organization Was Cited in a Brazil Corruption Probe (BBG)
- Bank of America Misses a Big Options Payday, Goldman Cashes In (WSJ)
- Eurozone trade surplus jumps in December (FT)
- Why Data Nerds Struggle to Gain Power at Hedge Funds (BBG)
- Malaysia detains woman, seeking others in connection with North Korean murder (Reuters)
- Why America’s Tallest Dam Is Suddenly in Danger (BBG)
- U.S. Defense Secretary in Brussels Amid Turmoil Over Flynn (WSJ)
- Retail CEOs to meet Trump in bid to kill U.S. border tax (Reuters)
- Central bankers take up arms against protectionism (Business Times)
- GM, PSA bosses try to sell Europe deal amid German, UK worries (Reuters)
- French government spokesman says aware of German concerns over Peugeot-Opel deal (Reuters)
- PepsiCo profit beats on demand for healthy snacks, drinks (Reuters)
- As AP Tests Gain Popularity, Some Colleges Push Back (WSJ)
- Berkshire takes huge bite of Apple, boosts airline stakes (Reuters)
Overnight Media Digest
FT
One of Europe's largest activist hedge funds, The Children's Investment Fund, has launched a campaign to block Safran SA's 8.5 billion pound takeover for its rival Zodiac Aerospace SA.
PSA Group, maker of Peugeot and Citroën cars, is in talks to acquire General Motors Co's European business in a deal that would transform the region's automotive market.
Rolls-Royce Holdings Plc reported a fall in underlying profits in every division in 2016, as it posted a 4.6 billion pound annual pre-tax loss, the largest in its history, due to a weaker pound and fines for bribery and corruption charges.
Royal Bank of Scotland Group Plc is to offer business loans within hours as part of a move to digitise the bank and bolster relations with small companies following alleged wrongdoing in its restructuring unit.
NYT
- Chip giant Intel Corp is ending its support of the fairs and sponsoring newer events like homemade engineering contests. Critics say the traditional fairs are as vital as ever. http://nyti.ms/2lO1Iot
- Humana Inc announced on Tuesday that it would no longer offer health insurance coverage in the state marketplaces created under the federal health care law, becoming the first major insurer to cast a no-confidence vote over selling individual plans on the public exchanges for 2018. http://nyti.ms/2lO66Uf
- Toshiba, the embattled technology conglomerate, said it planned to write off more than $6 billion and withdraw from the business of building nuclear power plants as the impact of a disastrous bet on American nuclear energy continued to rock a mainstay of corporate Japan. http://nyti.ms/2lO4ji2
- Senate Democrats on Tuesday enlisted Janet Yellen, the Federal Reserve chairwoman, as an expert witness against Republican plans to roll back postcrisis financial regulations. http://nyti.ms/2lObuXB
- Credit Suisse said on Tuesday that it planned to eliminate more than 5,500 jobs by the end of this year as Tidjane Thiam, its chief executive, looks to further reduce costs and improve the lender's prospects as it fell to its second consecutive annual loss. http://nyti.ms/2lO6v9q
Britain
The Times
More than 4,000 jobs in the British motor industry are under threat as it emerged that General Motors Co, the U.S. owner of Vauxhall, is in talks to sell its European operations to the French group, Peugeot SA. http://bit.ly/2leVO2a
Michael Roney, the former chief executive of Bunzl Plc , has been unveiled as the new chairman of Next Plc , the high street fashion chain. http://bit.ly/2leY1uc
The Guardian
A sharp rise in business rates for offices in the City of London is threatening to undermine the Square Mile's drive to remain a key financial centre in Europe after Brexit. http://bit.ly/2leYzAF
Unions are urging the government to take back control of its nuclear strategy after Toshiba Corp's deepening financial crisis cast fresh doubt about its involvement in the planned Moorside power station in Cumbria. http://bit.ly/2leVVuq
The Telegraph
Co-operative Bank Plc's core ethical mandate is expected to pose a major obstacle to a sale of the troubled lender to a rival firm, according to City sources. http://bit.ly/2leSHak
HSBC Holdings Plc has named Ian Stuart, a veteran banker it poached from Barclays Plc three years ago, to helm its ring-fenced business, as the firm braces for new rules that will overhaul Britain's lenders. http://bit.ly/2leVPmN
Sky News
British Airways passengers could be set for fresh disruption following the announcement of a second four-day strike by cabin crews in a long-running dispute over pay. http://bit.ly/2leWWmq
Lloyd's of London, the insurance market which is among the City's flagship institutions, has approached the former trade minister, Lord Davies, about becoming its next chairman. http://bit.ly/2leZ9Os
The Independent
The independent review headed by Matthew Taylor into the rights of self-employed and gig-economy workers has terms of reference from the government that prevent it from recommending that the Treasury close loopholes in the tax system. http://ind.pn/2leWpAZ
