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

On today's podcast:
(1) Soaring salaries cause a major headache for the Bank of England.

(2) Tony Blair tells Bloomberg the City risks losing its status as a high flyer.

(3) Biden and McCarthy dash hopes of a deal as the debt ceiling looms ever larger.

(4) A jury finds Donald Trump sexually abused and defamed a columnist, awarding her $5m in damages.