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

On today's podcast:
(1) The US and UK launched airstrikes on more than 60 Houthi rebel targets in Yemen, sparking vows of retaliation and a rise in oil prices after weeks of attacks in the Red Sea disrupted commercial shipping.

(2) Oil jumped as the US and allies launched airstrikes against Houthi rebels in Yemen, stepping up retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.

(3) European Central Bank President Christine Lagarde warned that a look at Donald Trump's first term as US president raises concerns about his potential return to power in 2025. 

(4) First Citizens Bank can proceed with a $1 billion lawsuit accusing HSBC of poaching dozens of employees and stealing trade secrets from Silicon Valley Bank shortly after its acquisition by First Citizens.

(5) Some of the most influential investors are giving the world's largest private equity firms a message: if you want money for your next fund, here's our list of demands.