Bloomberg Business

Mitsubishi UFJ Financial Group Inc. will buy a stake in U.S. Bancorp for $936 million, deepening an alliance after selling its regional banking business to the US lender last year.

Morgan Stanley cut its rating on Chinese stocks to equal weight Wednesday, saying investors should capitalize on a rally spurred by government stimulus pledges to take profits.

Brazil’s central bank lowered its interest rate by a larger-than-expected 50 basis points and signaled more cuts of the same size are coming, cementing a dovish shift amid President Luiz Inacio Lula da Silva’s crusade for lower borrowing costs.

Apollo Global Management Inc., Bain Capital and KKR & Co. are among suitors shortlisted in the bidding for Fujitsu Ltd.’s controlling stake in chip packaging unit Shinko Electric Industries Co., people familiar with the matter said.

China dropped to the 19th place on the California State Teachers’ Retirement System ranking of country asset exposure, following a broader US pension retreat from the world’s second largest economy.

DBS Group Holdings Ltd., Southeast Asia’s largest bank, signaled improving margins in the second half of this year after higher interest income and fees buoyed quarterly profit.

Fitch Ratings downgraded the credit scores of Fannie Mae and Freddie Mac to AA+ from AAA, a day after it cut the US sovereign credit rating.

The Bank of England is likely to boost interest rates again on Thursday, but a slowing in the pace of inflation may give policymakers scope to scale back the size of hikes.

RB Global Inc., formerly known as Ritchie Bros. Auctioneers Inc., is appointing a new chief executive officer to replace Ann Fandozzi following a dispute over issues including compensation.