South Korea's Leader Arrested, UK City Minister Quits, and Biden's Last-Minute Chip Rules

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

On today's podcast:

(1) South Korean investigators arrested President Yoon Suk Yeol on Wednesday after launching a pre-dawn operation to bring the impeached leader in for questioning over his short-lived martial law declaration.

(2) The UK’s City minister Tulip Siddiq resigned from the government following an ethics review into allegations around her use and receipt of properties linked to the ousted Bangladeshi regime.

(3) Forecasters expect a monthly report on US consumer prices to show a fifth month of firm increases, bolstering the case for an extended pause in Federal Reserve interest-rate cuts.

(4) The European Central Bank is pushing back against investors who reckon firmer inflation, a surprisingly sturdy US jobs market and Donald Trump’s economic disruption will narrow the scope to lower interest rates.

(5) Hot, dry winds are pummeling Los Angeles and surrounding areas of Southern California, raising wildfire risks through at least Wednesday as the region reels from blazes that have killed at least 24 people and burned neighborhoods to the ground.

(6) The Biden administration is planning to impose tough new rules on exporting advanced chips to China. Bloomberg has learned the White House intends to announce the measures in the last few days of the current presidency.

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