Reuters Business Today: January 3, 2017

Click to View in Browser Tuesday, January 3, 2017 Wall St. set for big gains on first trading day of 2017 (Reuters) - Wall Street looked set for big gains on Tuesday, the first trading day of 2017, with all eyes on the Dow Jones Industrial Average as it zeroes in on the historical 20,000 mark. Oil business seen in strong position as Trump tackles tax reform WASHINGTON (Reuters) - Big Oil could be in a unique position to protect its interests against a Republican proposal to tax imports, given that President-elect Donald Trump's cabinet is studded with oil champions sensitive to the risk of higher gasoline prices. Trump threatens 'big border tax' on GM over Chevy Cruze production WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Tuesday blasted U.S. carmaker General Motors and threatened to impose a "big border tax" for making its Chevy Cruze model in Mexico. Trump names Lighthizer as U.S. trade representative pick: statement WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Tuesday named veteran steel industry trade lawyer Robert Lighthizer, a harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Intel seeking indirect stake in mapping firm HERE: German cartel office FRANKFURT (Reuters) - Chip maker Intel has sought approval to buy a stake in HERE, a digital mapping firm controlled by Germany's carmakers Daimler , BMW and Volkswagen , a filing to the German cartel office showed. Oil hits 18-month highs as markets eye output cuts LONDON (Reuters) - Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Credit Suisse, AstraZeneca among top BofA-ML's top European picks for first quarter LONDON (Reuters) - Credit Suisse and AstraZeneca are among Bank of America-Merrill Lynch's top picks for the first quarter of 2017, as the market is overly pessimistic on both stocks, according to analysts at the bank. Fincantieri's bid for STX France approved by South Korean court SEOUL/PARIS (Reuters) - A South Korean court approved Italy's Fincantieri on Tuesday as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its position in the cruise ship-building market. Indonesia penalizes JPMorgan for 'underweight' call: officials JAKARTA (Reuters) - Indonesia will drop JPMorgan Chase & Co from providing some services to the government after the bank's research arm said investors should reduce their exposure to the country, senior finance ministry officials said on Tuesday. Few people seen selling yuan for dollars on first day of China's forex quota re-set BEIJING/SHANGHAI (Reuters) - China's authorities have sounded the alarm in recent weeks over the risk of capital outflows from the economy, but there was little evidence at Beijing and Shanghai banks on Tuesday that Chinese individuals were rushing to lock in 2017 quotas to buy foreign exchange. Related Video Hong Kong kept its post as top IPO capital in 2016 Wall St ends solid 2016 on dour note Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook