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Good morning. The hack of ICBC jolts financial markets, Fed Chair Powell wants to be careful, and there will be a Portuguese election in March. Here’s what people are talking about.
Industrial & Commercial Bank of China Ltd. is suspected of being hacked by the same group that has — just in the past year — also hit Boeing Co., ION Trading UK and the UK’s Royal Mail: The prolific gang known as Lockbit, a criminal gang with ties to Russia. On Thursday, trades handled by the world’s largest bank in the globe’s biggest market traversed Manhattan on a USB stick as ICBC was forced to send the required settlement details to those parties by a messenger carrying a thumb drive as the state-owned lender raced to limit the damage.