Oil surges with U.S. crude at 7-year highs but Wall Street finished in the red as global equities markets fret over inflation concerns. Under-fire IMF Managing Director Kristalina Georgieva gets the backing of the agency over a data-rigging scandal, but U.S. Treasury Secretary Janet Yellen warns over slipping ethical standards. Chinese property giant Evergrande fails to honour yet another debt deadline. Rival real estate companies Modern Land and Sinic also move to delay their own due dates. And JP Morgan CEO slams Bitcoin as ‘worthless’ but says he will still commit to helping clients access the cryptocurrency which is up 30 per cent in October.
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