BLOOMBERG China’s biggest lenders, including Industrial & Commercial Bank of China Ltd (ICBC), eked out profit growth in the first quarter of 2023 as they wrestled with shrinking margins and the lingering economic impact of China’s exit from Covid zero. Net income at ICBC rose 0.02% to 90.2 billion yuan ($13 billion) from the year-earlier period, according to an exchange …

BLOOMBERG The slump in the yen spurred by the latest Bank of Japan (BOJ) decision drove the currency to its weakest level since just after the collapse of Lehman Brothers Holdings Inc in 2008. The euro-yen cross rate rose as much as 1.8% to 150.43, a level last seen in September that year, as the Japanese currency dived against all …

BLOOMBERG US bank deposits rose in the latest week, a welcome break in a slide that’s seen cash flow into higher-yielding money-market funds amid unease about smaller lenders. Loans also increased, suggesting credit conditions are stable despite several recent bank failures. Deposits rose by $21.1 billion in the week ended on April 19, according to seasonally adjusted data from the …