United Kingdom

• China turmoil sends oil, stocks sliding (Reuters)
• China's Stock Traders Go Home After 29 Minutes (BBG)
• Yuan hits weakest since Feb 2011 on fresh low midpoint (Reuters)
• Stocks Extend Rout, Oil Slides on China as Soros Warns of Crisis (BBG)
• China's 29 Minutes of Chaos: Stunned Brokers and a Race to Sell (BBG)
• North Korea Uses Bomb Test to Boost Dictatorship (WSJ)
• Arab Shiites Are Caught in Iranian-Saudi Strife (WSJ)
• Oil slides below $33 to near 12-year low as China turmoil rattles investors (Reuters)

British MPs have decided to hold a debate in Parliament about whether U.S. presidential candidate Donald Trump should be allowed into the UK following a petition that attracted 565,000 signatures calling for Trump to be barred from the UK. The House of Commons petitions committee announced that a debate would be held on January 18th, in Parliament’s secondary debating chamber. Politico.eu reports: A rival petition opposing a ban has been signed by nearly 40,000 people. It will also be debated.

Back in November, The Pentagon claimed to have killed Mohammed Emwazi - better known by his stage name “Jihadi John” - in a drone strike near Raqqa.

Emwazi was infamous for his role in catapulting ISIS into the public’s collective consciousness. Clad in black and brandishing a Bowie knife, the Brit beheaded hostages dressed in bright orange jumpsuits in some of the first Islamic State propaganda videos to garner widespread Western media coverage.

Yesterday JPM, which despite calling for a 2,200 year end price target, paradoxically warned that the regime of "buying dips" is over, and that "we take the view that equities are unlikely to perform well on a 12-24 month horizon" adding that "the regime of buying the dips might be over and selling any rallies might be the new one." So don't buy dips yet somehow the S&P will rise 150 points? Fair enough.

The British prime minister has been urged to clarify the role the UK Government played in voting Saudi Arabia on to the UN Human Rights Council. The leaders of the Green Party and the Liberal Democrats are calling on David Cameron to come clean on the issue. The calls follow the kingdom’s execution of 47 people in a single day which sparked outrage across the Middle East.