(CNN Business) 1. China boosts lending: Chinese stocks dropped sharply Monday after China's central bank freed up 750 billion yuan ($109 billion) for new lending in an attempt to prop up economic growth.

The benchmark Shanghai Composite dropped 3.7% after being closed all last week for a public holiday. The Chinese yuan slipped 0.4% against the US dollar.

The Chinese economy has lost momentum this year following government efforts to try to rein in high levels of debt. It's also coming under pressure from US tariffs on more than $250 billion of Chinese exports.

Larry Hu, an economist at investment bank Macquarie, said the move by the central bank is "far from enough to turn the economy around" because banks may still be reluctant to lend. He said further stimulus was likely.

2. H&M's digital push: H&M ( H&M ( HNNMY ) is teaming up with Swedish fintech company Klarna to step up its online game.

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