Reuters Business Today: January 4, 2017

Click to View in Browser Wednesday, January 4, 2017 Wall Street set to open higher, Fed minutes eyed (Reuters) - Wall Street looked set for a second day of gains on Wednesday as oil prices edged up slightly, and investors awaited the minutes of Federal Reserve's December meeting in which it raised interest rates. Chided by Trump, Ford scraps Mexico factory, adds Michigan jobs FLAT ROCK, Mich./WASHINGTON (Reuters) - Ford Motor Co on Tuesday scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned his attention toward rival General Motors Co with the threat of a "big border tax" over compact cars made in Mexico. Exxon Mobil, Tillerson agree to cut all ties (Reuters) - Exxon Mobil Corp and Rex Tillerson agreed to sever all ties to comply with conflict-of-interest requirements as the company's former chairman and chief executive awaits confirmation as U.S. secretary of state. U.S. banks gear up to fight Dodd-Frank Act's Volcker rule (Reuters) - Big U.S. banks are set on getting Congress this year to loosen or eliminate the Volcker rule against using depositors' funds for speculative bets on the bank's own account, a test case of whether Wall Street can flex its muscle in Washington again. U.S. LIBOR breaks above 1 percent for first time since 2009 (Reuters) - The rate banks charge each other to borrow dollars for three months rose above 1 percent on Wednesday for the first time since May 2009 as global interest rates extend their climb on expectations of accelerating growth and inflation. Exclusive: Wall Street lawyer Jay Clayton emerges as Trump's top SEC choice BOSTON/WASHINGTON (Reuters) - Wall Street lawyer Jay Clayton, who has worked on high-profile initial public offerings such as Alibaba Group, is a leading candidate to head the U.S. Securities and Exchange Commission in the Trump administration, two sources familiar with the matter said on Tuesday. Amazon doubles deliveries in 2016 for third-party sellers (Reuters) - Amazon.com Inc shipped 50 percent more items this holiday season than last for third-party vendors and doubled the amount for 2016 overall, the retail giant said on Wednesday. Investment banking fees fall 7 percent in 2016 dragged down by equity raisings LONDON (Reuters) - Investment banking fees fell 7 percent worldwide in 2016, dragged down by a 23 percent fall in equity capital market (ECM) fees, Thomson Reuters data showed on Wednesday, raising the pressure on banking giants fighting to restore profitability. Maersk, Alibaba team up to offer online booking of ship places SHANGHAI (Reuters) - Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms. Judge halves $1 billion award in J&J hip implants case (Reuters) - A U.S. judge almost halved the award in a December jury verdict that ordered Johnson & Johnson and its DePuy Orthopaedics unit to pay more than $1 billion to plaintiffs in six lawsuits who said they were injured by DePuy's Pinnacle hip implants. Related Video Asia markets brace for the Trump effect Banks have more room to rally, says Art Hogan 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