BLOOMBERG  US President Joe Biden said he expected ties with China to improve “very shortly” after a spat over an alleged spy balloon earlier this year derailed relations. Speaking to reporters on Sunday at the end of the Group of Seven (G-7) summit in Japan, Biden said the US’s move to shoot down a “silly balloon that was carrying two …

BLOOMBERG  US bank deposits fell for a third week to the lowest level in nearly two years, extending a yearlong slide as customers continue seeking higher returns in money-market funds. Lending was little changed. Deposits at commercial banks decreased by $26.4 billion in the week ended May 10 to $17.1 trillion, according to seasonally adjusted data from the Federal Reserve. …

BLOOMBERG  India is withdrawing its highest-value currency note just months before a national election, when cash in circulation typically surges. People have until September 30 to deposit 2,000 rupee ($24) notes into their bank accounts or exchange them for other denominations, the Reserve Bank of India (RBI) said in a statement citing its “clean note policy.” It didn’t say what …