Sam Bankman-Fried takes the stand

Good Morning,

Sam Bankman-Fried Takes Stand in Reminder of Crypto’s Epic Fall, TVNZ dips into its $100m reserve to fund digital transformation, Western Digital Plunges After Kioxia Deal Talks Break Down, Big Tech Sheds $386 Billion in Value as Earnings Disappoint, PwC scandal-inspired cut to audit work will cost it $10m and Hurricane Otis kills at least 27, hammers Acapulco as damage seen in billions.

Let's jump in.

Before The Bell

Markets

• Asia Shares Rise as Tech Fuels Cautious Optimism: Markets Wrap (BBG)

Earnings and Data

• Capital One beats profit estimates on interest income boost (RT)

News Summary

• Christchurch mosque attacks: Coroner refuses request to stop using terrorist's name (Stuff)

• Passing motorist saved neighbours from massive Dunedin fire (Stuff)

• Former China Premier Li Keqiang, 68, has died (Stuff)

• Air New Zealand outsourcing some call centre roles to the Philippines (Stuff)

• Copycat Chinese Lithium Firms Back Nigerian Processing Plant (BBG)

• Big Tech Sheds $386 Billion in Value as Earnings Disappoint (BBG)

• Sam Bankman-Fried Takes Stand in Reminder of Crypto’s Epic Fall (BBG)

• Ex-ANZ employee among suspects in huge money-laundering ring (AFR)

• Traders say AI theme has longer to run despite $600b tech sell-off (AFR)

• PwC scandal-inspired cut to audit work will cost it $10m (AFR)

• TVNZ dips into its $100m reserve to fund digital transformation (NBR)

• National’s 100 days of action might hit wall of reality (NVR)

• Hurricane Otis kills at least 27, hammers Acapulco as damage seen in billions (RT)

• Israeli military raid Gaza to prepare 'next stage'; report missile hit Egyptian town (RT)

Deal Flow

Investments / M&A

• Western Digital Plunges After Kioxia Deal Talks Break Down (BBG)

• Hong Kong’s Second Biggest IPO of Year Seals Founder’s Fortune (BBG)

• NZ Windfarms shareholders reject board fee increase (NBR)

Debt

• Economists dispute Treasurer’s view of inflation (AFR)

Daily Picks

• Rugby World Cup: 'It's a response' – All Blacks upsize bench unit for final against Springboks (Stuff)

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