Bloomberg China’s financial markets will remain closed until next Monday after authorities extended the Lunar New Year break by three days as they grapple with the worsening virus crisis. Trading will resume February 3, the Shanghai and Shenzhen stock exchanges said. Shanghai authorities separately advised that companies shouldn’t start work until at least February 9. While onshore markets will be ...

Bloomberg The European Central Bank (ECB) said six out of 109 banks it evaluated last year had a level of financial strength below what it wants to see for 2020. “For those banks which have not taken satisfactory measures in the last quarter of 2019, remedial actions have been requested within a precise time line,” the ECB said in a ...

Bloomberg Kenya’s central bank joined its South African counterpart by unexpectedly cutting interest rates, citing well-anchored inflation expectations and an economy that’s operating below its potential. The monetary policy committee reduced its key rate to 8.25% from 8.5%, governor Patrick Njoroge said in an emailed statement. That’s the second consecutive cut and moves the rate to the lowest in more ...