Bank boom

US lenders posted $18 billion in first-quarter profits, after posting a $1.3 billion fourth-quarter loss, reflecting signs of a banking recovery, even as the number of “prob lem” banks rose, the Fed eral Deposit Insurance Corp. said.

Dell sells

Dell Inc.’s first-quarter profit rose 52 percent to $441 million, or 22 cents a share, from $290 million, or 15 cents, as revenue climbed 21 percent to $14.87 billion. But mar gins slipped, and Dell shares fell 5.2 percent to in after-hours trade.

Gap up

Gap Inc., posted first- quarter earnings of $302 million, or 45 cents per share, for the first quar ter, up from $215 million, or 31 cents per share, a year earlier, and raised its full-year profit forecast to $1.77 to $1.82 a share from $1.70 to $1.75.

Libya deal

The US and Libya signed a trade agreement yesterday, underlining a switch from decades-long hostility to lucrative busi ness ties. Under the deal, a joint council will be set up to handle issues in cluding market access and intellectual property, and Washington will help Libya with its application to join the World Trade Organization.