Rothschild Bank Clans Do Battle, Cyber Gang Disrupted & A Cheap EV Crisis

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) After decades of occupying different business areas, the last two remaining banks with links to the storied Rothschild name are encroaching on each other's territory. (2) Capital One has agreed to buy Discover in in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street's behemoths. (3) China has ramped up support for the troubled property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come. (4) BHP's first-half net income slumped 86% from the year before, after oversupply in the nickel market forced the world's biggest miner to write down the value of key assets. (5) Volkswagen, Renault and Stellantis are thinking the unthinkable, exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats. See omnystudio.com/listener for privacy information.