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China state media announces confessions in probes into stocks plunge

Chinese state media announced a slew of confessions on Monday following investigations into recent stock market gyrations, including from a detained reporter who admitted to spreading false information that caused “panic and disorder”. An official from China’s securities regulator had confessed to insider trading while four senior executives from China’s largest brokerage, CITIC Securities, had also confessed to insider dealing, the official Xinhua news agency reported. China is trying to

Oil falls back below $49 as glut, China concerns weigh

Oil fell below $49 a barrel on Monday after its biggest two-day rally in six years last week, pressured by a supply glut and renewed concern about a hard landing for China’s economy. International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen in only two of the past 14 months. At 1340 GMT, Brent was down $1.28