UPDATE: Traders Price 6% Rates On Hot UK Inflation & Sounds Heard In Titanic Search.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) UK inflation came in hotter than expected in May, with traders now pricing in a peak of 6% in Bank of England rates. (2) Biden says Xi was like a dictator kept in the dark about the alleged Chinese spy balloon. (3) The head of the New York Fed says company directors need to ensure management are doing their jobs. (4) With less than 30 hours of air remaining, noises have been detected in the search for the missing Titanic submersible. See omnystudio.com/listener for privacy information.