European markets appear to have shrugged off concerns over the decline in crude oil which hit lows not seen in 12 years overnight in Asia. Oil continued its decline as traders added to their short positions on worries over declining confidence in the Chinese economy and a growing global supply glut. Despite the global jitters over China's economy, Starbucks (SBUX) is betting big on the Chinese consumer's thirst for coffee. The company's CEO Howard Schultz said Starbucks plans to open 500 stores in China every year for the next five years. Starbucks already runs 2,000 stores in China. China's Dalian Wanda Group said it has agreed to buy Legendary Entertainment for $3.5 billion in cash. The deal is the largest ever investment by a Chinese company in an American movie and TV company. Legendary was involved with the making of 'Godzilla' which did well at the box office in China. Dalian said it will focus on making more of those types of action films in the future. And, sales of David Bowie's last album, which was released just two days before his death from cancer, surged on Monday. In the UK, the new album is headed to the top spot with more than 43,000 sales since its release. Downloads of Bowie's greatest hits and streams also soared. Spotify said streams of Bowie's music were up 2,700 percent on Monday.

If you liked this article you might like

3 Attractive ETFs for a Turbulent Market

3 Attractive ETFs for a Turbulent Market

How CVS Plans to Use Its Deal for Aetna to Transform Into Apple

How CVS Plans to Use Its Deal for Aetna to Transform Into Apple

Apple Shares Look Pretty Cheap Here

Apple Shares Look Pretty Cheap Here

Closing Bell: LIVE MARKETS BLOG

Closing Bell: LIVE MARKETS BLOG

Starbucks Stock Is as Cold as a Venti Iced Coffee

Starbucks Stock Is as Cold as a Venti Iced Coffee