Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) The majority of Britain’s biggest listed companies will together account for less than 3% of the revenue raised by Labour‘s increased payroll tax, Bloomberg analysis shows, despite Prime Minister Keir Starmer’s promise to target “those with the broadest shoulders.”

(2) Prime Minister Keir Starmer’s plan to boost ties with Beijing faces new hurdles after a Chinese businessman’s close links to Prince Andrew spurred demands for tougher restrictions on China’s operatives in the UK.

(3) President-elect Donald Trump said Ukraine needs to reach a deal to end the Russian invasion and downplayed the value of occupied land, in the latest signal he may push for a settlement that codifies Russian territorial gains.

(4) Donald Trump failed to convince a judge to set aside his conviction in the New York hush money case on presidential immunity grounds, though it’s unclear if the case will still proceed to sentencing as the president-elect continues to challenge the verdict.

(5) Germany is headed for months of political deadlock as voters return to the ballot box for another federal election in February and with coalition negotiations potentially lasting several months after that.

(6) The Bank of France cut its domestic growth outlook just days after President Emmanuel Macron named the country’s fourth prime minister in a year, with the central bank citing the political upheaval as a drag on household and business confidence.