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

On today's podcast:

(1) Three-quarters of the global carry trade has now been removed, with a recent selloff erasing this year’s gains, according to JPMorgan.

(2) Anti-racism protesters turned out in their thousands in towns and cities across the UK to counter far-right demonstrations that failed to materialize on Wednesday evening, offering some relief to a nation that’s been reeling from the worst outbreak of rioting in more than a decade.

(3) Britain’s employers stepped up hiring for white-collar roles and permanent staff, pointing to upward pressure on wages that the Bank of England is worried may feed inflation, two separate surveys indicated.

(4) Eurogroup chief Paschal Donohoe said the prospect of a second Donald Trump presidency is an impetus for the European Union to prepare itself by making its economy less dependent on the US.

(5) President Vladimir Putin summoned his top defense and security officials to brief him on efforts to repel Ukraine’s biggest assault on Russian territory since he ordered the 2022 invasion of the neighboring country.