Shadow Banking Crunch & Soros Foundation Shifts Focus

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chinese shadow bank Zhongrong has now missed payments on dozens of products and says it has no immediate plan to cover them. (2) The philanthropic organization that controls most of the assets in George Soros's $25 billion family office, is set to end the majority of its EU operations. (3) 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.