Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) US President Donald Trump sowed fresh chaos in metals markets with news of a higher-than-expected 50% tariff on copper imports, spurring a record spike in US futures and a drop in the global benchmark.
(2) President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.
(3) As the European Union nears a trade deal with the US, its negotiators are focusing on protecting key industries from massive tariffs set to hit the bloc’s exports as soon as Aug. 1.
(4) Britain is at risk of a £22 billion ($29.9 billion) surge in debt-interest costs as pension schemes buy fewer government bonds, threatening to worsen an “unsustainable” outlook for the public finances.
(5) UK officials were kept in the dark over a crucial report detailing major cultural failings at the statistics body that contributed to the breakdown of official unemployment data.
(6) SpaceX is discussing plans to raise money and sell insider shares in a deal that would value Elon Musk’s rocket and satellite maker at around $400 billion, people familiar with the matter said.
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