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

On today's podcast:

(1) Andrew Bailey says profit margins need to fall and pay rises need to be curbed after the Bank of England hiked by 50 basis points.

(2) The Federal Reserve's Powell says Wall Street giants could face a 20% jump in capital requirements.

(3) US Treasury Secretary Janet Yellen tells Bloomberg that recession risks are receding.

(4) US Coast guard reveals the five-man Titanic sub crew died after a catastrophic implosion.