Bloomberg More rich Asians are asking private banks to manage their wealth amid increasing volatility in financial markets, a new survey shows, in an encouraging sign to firms such as UBS Group AG and Credit Suisse Group AG that are expanding their businesses in the region. About a quarter of high-net-worth investors in Asia were clients of private banks ...

  Bloomberg Citigroup Inc. reduced its forecast for net interest margin, the difference between what it makes on loans and pays for funds, on expectations interest rates will remain low for a longer stretch than bank executives previously thought. The margin will be about 2.90 percent in the second half of 2016, down from a previous forecast of 2.95 percent, ...

  Bloomberg The highly-indebted oil company at the center of Brazil’s biggest corruption scandal still has cash to support top athletes in the run-up to the Olympic games being held in its home city. Rio de Janeiro-based Petrobras has expanded its budget for athletes, even as it cut overall sponsorship spending by 27 percent this year to 228 million reais ...