Rates Debate Heats Up, UK Bank Tax Coming, Luxury’s Unsold Secrets

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Federal Reserve Chairman Kevin Warsh did nothing to dispel market expectations that the US central bank will hold interest rates steady when it meets at the end of the month. -Bank of England Governor Andrew Bailey said there is little evidence yet of inflation becoming embedded in UK price and wage-setting. European Central Bank Governing Council member Olli Rehn said policymakers will have additional information at the final rate decision of the year, while suggesting the current policy approach is working.

(2) UK Chancellor of the Exchequer John Healey is set to raise taxes on banks to fund cost-of-living support for voters and stabilize the public finances, as he looks for sources of revenue that won’t violate Labour Party campaign pledges.

(3) The European Union is preparing to create new trade powers that could completely shut off access to its single market as part of a dramatic new push to cut the trade deficit with China. (4) President Donald Trump didn’t order any limitations on Ukraine’s access to SpaceX’s Starshield satellite technology, according to a senior US official.

(5) Three children, ages 5, 8 and 11, and one teacher were killed by a shooter Thursday at an elementary school in Bend, Oregon, according to Police Chief Mike Krantz.

(6) The EU will require luxury companies to report how many unsold products they've destroyed and why, starting next March, which could lead to a backlash from customers and give competitors sensitive information.

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