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

On today's podcast:

(1) HSBC's incoming Chief Executive Officer Georges Elhedery is considering plans that could remove layers of middle management at Europe's largest bank, mirroring similar moves undertaken by rivals Citigroup and Standard Chartered

(2) Protests in China are on the rise as the effects of a slowing economy rattle citizens and Beijing refrains from taking bolder steps to shore up growth.

(3) US National Security Advisor Jake Sullivan and Chinese Foreign Minister Wang Yi met again for talks aimed at managing the two nations' contentious relationship.

(4) Burberry is poised to exit the FTSE 100 Index, ending the luxury-goods maker's 15-year stay in the UK blue-chip gauge.

(5) The UK and Germany are edging toward a major new treaty as part of Keir Starmer's efforts to improve ties with European allies.