Bloomberg The numbers circulating about bad loans at Italian banks are too high, Finance Minister Pier Carlo Padoan said. “The numbers that have been floating around” amount to several hundred billion euros — this “grossly overestimates the impact, I would say that now we are talking about tens of billions,” Padoan said in a Bloomberg Television interview in Bari, Italy, …

Bloomberg Singapore’s big three banks have invested heavily in their wealth-management businesses over the past year and the results are starting to show. Higher income from servicing Asia’s more well-heeled individuals helped DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. (OCBC) and United Overseas Bank Ltd. (UOB)offset bad-loan provisions and weaker loan margins to post better-than-expected first-quarter profits. OCBC’s wealth-management revenue …

Bloomberg North Korea fired a ballistic missile early Sunday, its seventh such test this year, just days after South Korea elected a president who vowed to engage with Kim Jong Un’s regime to defuse tensions over its nuclear weapons program. The missile was launched at 5:27 a.m from the city of Kusong, northwest of the capital Pyongyang, and flew about …