Bloomberg Mitsubishi UFJ Financial Group Inc.’s next banking unit chief vowed to target business in Asia, while signaling the potential for cutbacks in developed markets as plunging interest rates dent profitability. “In Asia, we will pursue growth,” Junichi Hanzawa, 55, told reporters after being appointed president of MUFG Bank Ltd. “In Europe and the US, where interest rates are very …

Bloomberg The Federal Reserve, showing confidence in how banks are weathering the pandemic, gave industry leaders a green light to resume billions of dollars in stock buybacks. Lenders including JPMorgan Chase & Co. and Goldman Sachs Group Inc. said they’ll take the Fed up on its offer. The loosening of restrictions marks a partial but significant win for firms that …

Bloomberg Mexico’s central bank needs more time to confirm if inflation is slowing toward target before resuming a monetary easing cycle, Governor Alejandro Diaz de Leon said after the institution left the key interest rate unchanged. Policy makers want to see if deep shopping discounts akin to Black Friday during November in Latin America’s second-largest economy will subside or persist, …