UPDATE: UK Inflation Runs Hot & Muslims Lives Ruined By Debanking

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Higher than expected UK inflation has traders once again betting the Bank of England will hike rates to 6%. (2) Chinese shadow bank Zhongrong has now missed payments on dozens of products and says it has no immediate plan to cover them. (3) Figures from the FCA show one in ten British Muslims don't have a bank account. Bloomberg has spoken to a number of customers who've struggled with the system. (4) Bloomberg has learned that a US funder is bankrolling massive lawsuits against UK universities for closures during the Covid-19 pandemic. See omnystudio.com/listener for privacy information.