World + Economy

By Huw Jones LONDON (Reuters) - Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis …

By Peter Maushagen and Maria Sheahan FRANKFURT (Reuters) - Pilots at German airline Lufthansa will go on strike on Wednesday in a long-running pay dispute, their labor union said on Monday, raising the prospects of hundreds of flight cancellations. The strike, the 14th in the row between union Vereinigung Cockpit (VC) …

By Abhinav Ramnarayan and Helen Reid LONDON (Reuters) - Euro zone governments are increasingly relying on hedge funds to help them meet their borrowing needs, which risks leaving them vulnerable to a debt market sell-off driven by a class of investors dubbed "fast money" for their speculative approach. Hedge funds tend …

By Kathrin Jones and Andreas Kröner FRANKFURT (Reuters) - Paul Achleitner's nomination for a new term as Deutsche Bank chairman has split investors, with Qatar's Sheikh Hamad bin Jassim al-Thani backing him but other shareholders reluctant to give their support, according to people with knowledge of the matter. "The bank …

"It is true that Deutsche Bank's supervisory board has unanimously nominated Paul Achleitner for reelection at the annual general meeting in May 2017," the spokesman said. The spokesman added that an internal investigation had also cleared Achleitner of wrongdoing in connection with the bank's alleged manipulation of interbank …

By Maki Shiraki TOKYO (Reuters) - Honda Motor Co. <7267.T> will stick with its North American production plans as it waits to see if U.S. President-elect Donald Trump will follow through on a campaign pledge to dump the North American Free Trade Agreement (NAFTA) when he takes office, the automaker's CEO said on Monday. …

By Junko Fujita TOKYO (Reuters) - China's Anbang Insurance Group Co [ANBANG.UL] is in talks to buy as much as $2.3 billion in Japanese residential property assets from Blackstone Group , two people involved in the discussions said, in what would be Japan's biggest property deal since the global financial crisis. The …

Deutsche Bank has nominated its chairman for a second term after an internal probe cleared him of accusations that he was partly to blame for the bank's poor cooperation with authorities in a probe into rate-rigging, a source close to the bank said. Paul Achleitner was nominated at a meeting of the lender's supervisory …

Europe's largest carmaker Volkswagen sees building its own factory to make electronic vehicle batteries as a logical move as it expands production of low-emission cars after its emissions scandal. Volkswagen and its labor unions agreed on Friday to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid …

By Catherine Cadell WUZHEN, China (Reuters) - China's ambitions to tighten up regulation of the Internet have found a second wind in old fears - terrorism and fake news. Ren Xianling, the vice minister of China's top internet authority, said on Thursday that the process was akin to "installing brakes on a car before driving …

Volkswagen does not expect the German government to make tax demands to cover revenue losses related to the carmaker's diesel scandal, a company spokesman said on Saturday. In Germany, motor vehicle taxes are tied to the volume of carbon dioxide emissions, among other things. VW, Europe's largest carmaker, has admitted …

By Patrick Rucker WASHINGTON (Reuters) - A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. Friday's move may target executive pay at Wells Fargo at a time when some lawmakers complain bank bosses have …

By Patrick Rucker WASHINGTON (Reuters) - A leading U.S. bank regulator on Friday reversed course and revoked Wells Fargo & Co's right to shield the pay of former executives after a phony-accounts scandal. The lender also must now seek prior approval before naming new bank leadership, said the Office of the Comptroller …

Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the "yieldco". The cash offer of $13 for class A and class B shares of TerraForm Power is nearly in line with the class A stock's …

By Dmitry Zhdannikov LONDON (Reuters) - Glencore is seeking to raise $550 million from investors via a debt issue guaranteed by oil from Iraqi Kurdistan in an attempt to secure a big slice of the high-risk - and high-reward - market in a region at war with Islamic State. Kurdish oil has been targeted by European traders …

By Rodrigo Campos NEW YORK (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff that left benchmark yields on track to post their steepest two-week increase in 13 years. A growing perception that …

By Jake Spring GUANGZHOU, China (Reuters) - After paying out billions of dollars in subsidies to promote greener cars - and creating a gold-rush among unknown start-ups - China is tightening its grip on the world's biggest electric vehicle (EV) market to weed out weaker domestic firms. China has rapidly built the world's …

Bleak fourth-quarter sales forecast from Abercrombie & Fitch Co and Gap Inc raised fresh concerns that apparel retailers were in for another tough holiday season as fewer shoppers visit malls and continue to spend less on clothes. Shares of Abercrombie, which reported a much steeper-than- expected 6 percent decline in …