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

On today's podcast:

(1) The UK and Switzerland will sign an agreement around financial services on Thursday, a post-Brexit accord to deepen ties between their respective financial centers.

(2)  An escalation of attacks on marine vessels in the Red Sea is causing widespread trade disruption as the world's biggest vessel owners take alternative longer routes, sending shipping rates soaring.

(3) European Union finance chiefs ended months of wrangling over fiscal rigor to agree on new rules that will aim to rein in debt and define the bloc's ability to invest in key sectors such as defense for years to come.

(4) Citigroup has decided to exit the distressed-debt trading business, the latest retrenchment in Chief Executive Officer Jane Fraser's effort to reshape the firm in pursuit of higher returns.

(5) With aid from allies increasingly in doubt, companies are stepping in to support Ukraine's war economy.