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

On today's podcast:

(1) Asian stocks extended a rally in global equities as jobs data backed the view that the US economy is headed for a soft landing. The yen gained as the Bank of Japan left interest rates unchanged.

(2) The Bank of England has given Chancellor of the Exchequer Rachel Reeves a £4 billion ($5.3 billion) lifeline to help ease spending pressures ahead of what she has said will be a tough first budget.

(3) The UK’s Labour government is considering raising wealth taxes. Small businesses and farmers fear liquidation if relief is cut.

(4) French Prime Minister Michel Barnier met with President Emmanuel Macron in Paris late on Thursday to propose a new government after two weeks of tense consultations with rival political groups.

(5) The German government has started an internal probe into its Commerzbank AG share sale after the transaction allowed UniCredit  to swoop in and take a major stake in the lender. See omnystudio.com/listener for privacy information.