Fed's Cook Won't Be 'Bullied', Possible UK Home Tax, Vape Ban Failings

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

On today's podcast:

(1) Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank, defying calls for her resignation by President Donald Trump over allegations of mortgage fraud.

(2) Most Federal Reserve officials highlighted inflation risks as outweighing concerns over the labor market at their meeting last month, as tariffs fueled a growing divide within the central bank’s rate-setting committee.

(3) The NASDAQ declined for the second straight day yesterday, with MAG 7 stocks on their longest losing streak since April. Futures are currently pointing higher for the tech-heavy index, but this week's dip has raised questions if the rally in the sector has gone too far, too fast.

(4) UK Chancellor of the Exchequer Rachel Reeves is considering taxing high-value family homes at the point of sale as she looks for ways to plug a multibillion-pound hole in the upcoming budget.

(5) European leaders are discussing a security guarantee for Ukraine that would commit Kyiv’s allies to decide within 24 hours whether to provide military support to the country if it’s again attacked by Russia.

(6) A UK ban on disposable vapes is failing to stop users treating refillable devices as if they are still throwaway products, new research shows.

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