Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market.

(2) China blasted the Biden administration's move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics.

(3) Federal Reserve Chair Jerome Powell said the US central bank must be patient and wait for evidence that inflation continues to cool, doubling down on the need to keep borrowing costs elevated for longer.

(4) Britain's failure to complete its sustainable finance framework is putting billions of pounds worth of funding at risk, according to a UK investor association representing £19 trillion ($24 trillion) of assets.

(5) The UK government has pushed back against a number of recommendations designed to combat sexism and misogyny in the finance industry.

See omnystudio.com/listener for privacy information.

China May Buy Unsold Homes & Powell Doubles Down 16:49 Share

Bloomberg Daybreak: Europe Edition

Shownotes Transcript

China May Buy Unsold Homes & Powell Doubles Down