All the latest economic and financial news, as Shanghai stocks slide again despite Beijing’s claims that its financial system is ‘largely stable and healthy’ * Relief at yuan strengthens * China’s stock market falls 5% * Oil falls, dragging ruble down too 10.21am GMT INTERESTING DEVELOPMENTS IN GREECE OVERNIGHT - THE COUNTRY HAS A NEW OPPOSITION LEADER. And the new man, Kyriakos Mitsotakis, could be a serious reformer with the ability to shake up the Greek economy should he one day take power. 9.58am GMT IN A WEEK’S TIME, HIGH-FLYING MEMBERS OF THE GLOBAL ELITE (PLUS A BUNCH OF JOURNALISTS) WILL GATHER IN DAVOS FOR THE ANNUAL WORLD ECONOMIC FORUM (WEF). It’s a chance to discuss the global situation, cut deals, and plot the way ahead - at a crucial time for the world economy. But this year, Angela Merkel won’t be there. With a lot on her plate, she [Merkel] had already decided well before the Cologne attacks not to make her regular trip to the Davos World Economic Forum, the global leaders’ gathering this month. German govt denies @FT report Merkel canceled trip to Davos. Merkel had no plans to attend Davos this year, spokesman Seibert says. (BBG) Continue reading...
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