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

On today's podcast:

(1) Gold and silver saw their steepest selloff in years as investors locked in profits on concern that the recent historic rally in the precious metals left them overvalued.

(2) European nations are working with Ukraine on a 12-point proposal to end Russia’s war along current battle lines, pushing back against Vladimir Putin’s renewed demands to the US for Kyiv to surrender territory in return for a peace deal.

(3) President Donald Trump said Tuesday he did not want to have “a wasted meeting” with Russian President Vladimir Putin, the latest sign that a planned second summit between the two leaders could be in jeopardy.

(4) US President Donald Trump predicted an upcoming meeting with his Chinese counterpart, Xi Jinping, would yield a “good deal” on trade — while also conceding that the highly anticipated talks may not happen.

(5) Netflix said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates.

(6) The Bank of England warned of parallels between the $1.7 trillion private credit boom and the subprime debt crisis, as UK officials confirmed plans to subject the market to stress tests.

Podcast Conversation: Sorry, Pop Mart, Labubu Is Just Not Lego or Pokemon: Shuli Ren

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Gold and silver saw their steepest selloff in years as investors locked in profits on concern that the recent historic rally in the precious metals left them overvalued. (2) European nations are working with Ukraine on a 12-point proposal to end Russia&rsquo;s war along current battle lines, pushing back against Vladimir Putin&rsquo;s renewed demands to the US for Kyiv to surrender territory in return for a peace deal. (3) President Donald Trump said Tuesday he did not want to have &ldquo;a wasted meeting&rdquo; with Russian President Vladimir Putin, the latest sign that a planned second summit between the two leaders could be in jeopardy. (4) US President Donald Trump predicted an upcoming meeting with his Chinese counterpart, Xi Jinping, would yield a &ldquo;good deal&rdquo; on trade &mdash; while also conceding that the highly anticipated talks may not happen. (5) Netflix said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates. (6) The Bank of England warned of parallels between the $1.7 trillion private credit boom and the subprime debt crisis, as UK officials confirmed plans to subject the market to stress tests. Podcast Conversation: <a href="https://www.bloomberg.com/opinion/articles/2025-10-21/sorry-pop-mart-labubu-is-just-not-lego-or-pokemon" data-destination="https://www.bloomberg.com/opinion/articles/2025-10-21/sorry-pop-mart-labubu-is-just-not-lego-or-pokemon">Sorry, Pop Mart, Labubu Is Just Not Lego or Pokemon: Shuli Ren</a>

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: Europe Edition

Gold's Decade-Sized Plunge, Europe's Ukraine Plan, UK Growth in The Sewer

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/75329956-d559-4b2c-815b-b37e005f234a/transcript