Harris has enough support from delegates to be Democratic nominee

Good Morning,

Wiz walks away from $23 billion deal with Google, will pursue IPO, Markets reassess ‘Trump trades’ after Joe Biden withdraws from race, and Founder of South Korea's Kakao arrested for suspected stock manipulation.

Let's jump in.

Before The Bell

Markets

• Markets reassess ‘Trump trades’ after Joe Biden withdraws from race. (FT).

• Nvidia, Chip Stocks Power Market Rebound. (WSJ).

• Founder of South Korea's Kakao arrested for suspected stock manipulation. (Reuters).

Earnings and Data

• A first step has been taken towards a potential major shakeup of The Warehouse Group's ownership. (1 News).

• Morning Bid: Tesla, Alphabet earnings take centre stage. (Reuters).

News Summary

• Transport Minister announces four-lane highway from Auckland to Whangārei. (Herald).

• Missing woman Breanna Muriwai's mother says family has had 'news of our beloved girl'. (RNZ).

• A Christchurch girl last seen 11 days ago has been found “safe and well”. (Stuff).

• Children’s Minister Karen Chhour apologises to abuse survivors as officials eye major shake-up of Oranga Tamariki funding model. (Herald).

• ‘Horrific and harrowing’ facts to be laid bare in Royal Commission report into abuse in care. (Stuff).

• Celebrities are showing their support for the Democratic Party frontrunner Kamala Harris; she been branded a ‘brat’ by Gen Z pop sensation Charli XCX. (Herald).

• A milk truck was stolen from a petrol station in Hamilton on Tuesday morning after the driver left the keys in the ignition. (Stuff).

• ‘Totally bloated': New Health NZ Te Whatu Ora boss Lester Levy lays into bureaucracy. (RNZ).

• ‘Australia is a joke’: Influencer divides with ‘excessive’ cost of sandwich. (NCA).

• A man has been attacked by a shark on New South Wales' Mid North Coast. (9 News).

• A backcountry skier who died during a suspected fall in the Kosciuszko National Park would have been killed instantly, an inquest has been told. (NCA).

• Large-scale and intense wildfires carrying smoke across northern hemisphere. (Guardian).

• Delta Struggles to Regain Footing After Tech Outage. (WSJ).

• Philippines bans gambling operations catered to illicit Chinese players. (CNN).

Deal Flow

VC & Fundraising

• Green shoots are emerging among venture capital-led capital raisings, according to KMPG, with artificial intelligence creating new investment opportunities. (The Australian).

Equity Raises

• Wiz walks away from $23 billion deal with Google, will pursue IPO. (CNBC).

Debt

• Developing countries face worst debt crisis in history, study shows. (Guardian).

• A bruising recession and the disappearance of pensions have left many young boomers financially exposed. (WSJ).

• Ukraine struck a deal with creditors that could save it more than $11 billion over the next three years, a boost for the war-torn country as it struggles to keep funding the war with Russia. (WSJ).

Daily Picks

• Harris has enough support from delegates to be Democratic nominee. (BBC).

• India's Modi government says focus on employment and middle class in first post-poll budget. (Reuters).

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