This is what’s in the news for Wednesday January 4, 2012. The Wall Street Journal reports Federal Reserve officials will soon begin detailing their plans for short-term interest rates, a move that could show that the central bank’s easy money policies will remain in place for years and boost the economy. The Wall Street Journal also reports with increased competition and weaker markets, investment banks are lowering expectations and cutting costs in Asia which has been a key source of growth for the industry. Reuters reports MF Global (MFGLQ) unloaded hundreds of millions of dollars’ worth of securities to Goldman Sachs (NYSE:GS) days before its collapse, but it did not immediately receive payment from its clearing firm and lender, JPMorgan Chase (NYSE:JPM), sources say. Finally, Reuters also reports Exxon Mobil (NYSE:XOM) is in talks to sell most of its 50% stake in TonenGeneral Sekiyu KK back to its Japanese refining partner and unload other assets in Japan in a deal that could be worth as much as B, sources say.

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