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

On today's podcast:

(1) The US is approaching a final decision to lift some restrictions on Ukraine’s use of Western-made weapons to strike limited military targets in Russia, according to people familiar with the matter.

(2) Xi Jinping used his final meeting with Joe Biden to send a clear message to Donald Trump: China wants to be friends, but is ready for a fight if necessary.

(3) The search for Donald Trump’s chief economic policymaker devolved into disarray over the weekend, with contenders tussling for support, aides scrambling to find alternative candidates and the president-elect fuming over the behind-the-scenes jockeying that has spilled into public view.

(4) Support for Chancellor Olaf Scholz to lead Germany’s Social Democrats into an early election is starting to crumble within his own ranks, according to people familiar with the situation.

(5) UK inflation probably surged back above the Bank of England’s target in October, reinforcing the case for policymakers to act cautiously when cutting interest rates.