US MARKETS:

-S&P 500 futures up 0.3% to 2,588.75
-Brent futures up 0.9% to $59.52/bbl
-Gold spot down 0.3% to $1,288.12
-U.S. Dollar Index up 0.2% to 95.84

GLOBAL NEWS:

VW stands up. Volkswagen will invest 800 million dollars in electricity in the United States, but the German group and Ford have cancelled their joint conference scheduled today. The proposed alliance between the two manufacturers is not yet mature enough, they said. It doesn't look very serious a few hours before the promised event. 

BNP downsizes.  BNP Paribas is reportedly closing its commodities trading desk in the United States, which employs 16 people, according to Bloomberg. The team traded metals, agricultural and energy products.

The A220 on a diet. Airbus has planned significant cost reductions on the A220 program, taken over from Bombardier, with a double-digit decline mentioned. The ex-CSeries must be cheaper to produce to convince customers. 

The game is changing. Fiat Chrysler will revise its investment plan in Italy after the adoption of taxes on large diesel and petrol engines and measures in favour of small vehicles. The manufacturer will have to reorient its priorities after reporting in November on a €5 billion investment programme by 2021.

New round at TI. At Telecom Italia, tensions are rising before the General Assembly of January 29. Elliott issued a press release last night to broach Vivendi's requests in advance of the meeting. The Frenchman would like to take back control of the board after being ousted several months ago by the fund.

In other news. The Basel Committee relaxes its requirements for banks in 2022. At the Detroit Motor Show, car industry bosses are calling on Trump to end the customs war. Etihad will increase its positions in Jet Airways. Major strike in air transport in Germany. Liberty Latin America reportedly approached Millicom International Cellular, Reuters reported, for a takeover. The bankruptcy of the Californian energy company PG&E is confirmed after the fires. Partners Group and Lindt have published their accounts.