- Business euphoria over Trump gives way to caution, confusion (Reuters)
- Biden Lashes Out at Trump Over Comments on NATO (WSJ)
- Number of House Democrats Skipping Inauguration Grows (WSJ)
- Rising U.S. shale-oil output threatens OPEC’s production pact (MW)
- China urges U.S. to bar Taiwan delegation from Trump inauguration (Reuters)
- IEA Sees Significant Gains in U.S. Shale Oil as Prices Rise (BBG)
- Tom Price to Face Questions on Stock Trades, Obamacare (WSJ)
- Trump commerce nominee Ross to tell senators: 'I am not anti-trade' (Reuters)
- HSBC CEO Says Bankers Generating 20% of London Revenue May Move (BBG)
- FTC Sues Chip Maker Qualcomm (WSJ)
- As caliphate crumbles, Islamic State lashes out in Iraq (Reuters)
- ‘Clinton Cash’ Book Got Most of Its Funding From a Hedge Star (BBG)
- Whistleblower Snowden can apply for Russian passport next year (Reuters)
- How Obama Changed Investing Forever (BBG)
- F-35’s ‘Grotesque Overruns’ Now Past, Says Pentagon Chief (BBG)
- Potentially nasty fight looms over Trump U.S. Supreme Court pick (Reuters)
- Capital curbs push Chinese firms to risky, costly dollar bonds (Reuters)
- Elder ex-president Bush recovering in hospital after breathing problems (Reuters)
- Billionaire Steyer Says There’s ‘No Limit’ on His Spending Against Trump (BBG)
- Trump’s Options for Weakening Dollar Extend Beyond Tweets (BBG)
- This Team Runs Mark Zuckerberg’s Facebook Page (BBG)
Overnight Media Digest
WSJ
- President Barack Obama shortened Chelsea Manning's 35-year prison sentence Tuesday, setting a May release for the former Army intelligence analyst convicted of leaking government secrets. http://on.wsj.com/2jvewBH
- As Donald Trump prepares to take the oath of office, a growing share of Americans disapprove of how he has handled his transition to the White House, a new Wall Street Journal/NBC News poll finds. http://on.wsj.com/2jv969N
- The Federal Trade Commission on Tuesday sued Qualcomm Inc alleging the semiconductor company engaged in unlawful tactics to maintain a monopoly on a type of chip used in cellphones. http://on.wsj.com/2jvgIsP
- Theranos failed a second major U.S. regulatory inspection of its laboratory facilities, people familiar with the situation said, a setback the Silicon Valley blood-testing firm hasn't disclosed to investors or patients. http://on.wsj.com/2jvbrkZ
- British American Tobacco agreed to take full control of Reynolds in a $49.4 billion deal that marks renewed interest among international players in the U.S. tobacco market. http://on.wsj.com/2jv7L2T
- Allergan PLC will pay $15 million in fines and admit to disclosure violations during a hostile takeover bid from Valeant Pharmaceuticals International Inc, the Securities and Exchange Commission said Tuesday. http://on.wsj.com/2jvaiKj
- Deutsche Bank completed a $7.2 billion deal to resolve U.S. claims that it misled investors on mortgage securities it sold before the 2008 financial crisis, authorities said. http://on.wsj.com/2jvceCF
- Prime Minister Theresa May said the U.K. intends to leave the EU's single market, outlining a plan for a clear break from the bloc and answering the biggest open question about her vision for Britain's future. http://on.wsj.com/2juYSpM
FT
* Environmental group Greenpeace International on Tuesday slammed HSBC Holdings Plc for allegedly funding palm oil companies in Indonesia that it says have destroyed tropical rainforests.
* British engineering group Rolls-Royce Plc's leadership was aware about its ongoing corruption in 2010 but chose not to inform the concerned authorities, according to a court ruling.
* Britain will quit the EU single market when it leaves the European Union, Prime Minister Theresa May said on Tuesday in a decisive speech that set a course for a clean break with the world's largest trading bloc.
* In his first remarks since being chosen as BBC chairman, David Clementi told a parliamentary committee that a 2015 deal with the government will be of "severe financial pressure" during the next five years.
Canada
THE GLOBE AND MAIL
** AltaGas Ltd is gearing up for a C$500 million ($382.38 million) propane export project, hoping to breathe new life into a northern British Columbia port that has been hurt by sluggish coal shipments over the past three years. https://tgam.ca/2iPmrIP
** Billionaire investor Wilbur Ross, chosen by U.S. President-elect Donald Trump to reshape U.S. trade policy, has informed Canada that rules of origin and independent dispute tribunals will be central to talks aimed at resetting the North American free-trade agreement. https://tgam.ca/2iPivrs
** The Trudeau government is weeks away from an inaugural round of talks on a free-trade agreement with China as it presses ahead a central objective in its plan to deepen ties with the world's second-largest economy. https://tgam.ca/2iPfg3w
NATIONAL POST
** Canada Mortgage and Housing Corp, the Crown corporation that controls the majority of the mortgage default insurance market in the country, is raising premiums for a third time in the last couple of years and says new regulations are forcing its hand. http://bit.ly/2jJwxts
** Bombardier Inc's new management team has given the head of the Toronto Transit Commission "much greater confidence" that the city's delay-plagued C$1.2 billion ($917.71 million) streetcar order will be completed by 2019 as originally planned, TTC Chief Executive Andy Byford said Tuesday. http://bit.ly/2jJzqu6
** Canadian oil and gas producers happy to see the end of the Obama era are quickly coming to the realization that the imminent Trump presidency could be even more challenging if he moves forward with the adoption of a border adjustment tax. http://bit.ly/2jJqwNb
Britain
The Times
British American Tobacco agrees $49 bln deal to take over rival
British American Tobacco Plc has agreed terms of a $49.4 billion recommended offer to take control of Reynolds American Inc, the second-largest seller of cigarettes in the United States. An earlier $47 billion offer to create the world's largest listed tobacco company by turnover was rejected in November as too low. http://bit.ly/2jWHmaB
The Guardian
Rolls-Royce apologises in court after settling bribery case
The engineering giant Rolls-Royce Holdings Plc has apologised after it was found to have paid bribes including a luxury car and millions of pounds' worth of cash to middlemen to secure orders in six countries, including Indonesia, Russia and China. http://bit.ly/2jwo132
Southern rail strikes suspended as two sides agree to TUC talks
A strike by train drivers on Southern rail planned for next week has been suspended and talks announced, raising fresh hopes of a resolution to the long-running dispute. http://bit.ly/2k0l9wG
Apple increases App Store prices by 25 pct following Brexit vote
Apple Inc is raising prices on its UK App Store by almost 25 percent to reflect the sharp depreciation of the pound following a vote in June to leave the European Union. http://bit.ly/2ix0rE8
The Telegraph
Deliveroo to hire hundreds of engineers at London HQ
The British food delivery company Deliveroo plans to hire 300 software and hardware engineers to work at its new London headquarters, trebling its current engineering headcount. http://bit.ly/2jWKxyX
Micro Focus picks HP exec to lead software group after 7 bln stg deal
One of HP Enterprise's most senior executives will take charge of Micro Focus International Plc after the FTSE 100 group completes its 7 billion pounds reverse-takeover of HPE's software business. Micro Focus announced on Tuesday that Chris Hsu will become chief executive of the enlarged group when the deal completes in the third quarter of this year. http://bit.ly/2jWIgEe
Sky News
Fintech giants have Motive to back Summers
A group of leading financial technology executives will this week launch a next-generation vehicle that has identified a business backed by former U.S. Treasury Secretary Larry Summers as its first deal target. Motive Partners, whose founders include Rob Heyvaert, a former executive at the software company FIS, and the ex-Interactive Data Corporation chief executive Stephen Daffron, will be unveiled at the World Economic Forum in Davos. http://bit.ly/2jW0i9A