Changing of Lagarde, Binance's $6.3B Hack, Big Tech's Bruising Week

Your morning briefing. All the news you need to start your day

On today's podcast:

(1) Christine Lagarde will leave the European Central Bank with one victory notched up over inflation, camaraderie restored among policymakers and the euro on track to join the digital age.

(2) The Bank of Japan held its benchmark interest rate unchanged while indicating for the first time that underlying inflation has reached its 2% target, a milestone that opens the door to a hike as soon as December.

(3) Technology shares sold off for a second consecutive day as another round of disappointing earnings accelerated a rotation out of the artificial intelligence trade and drove investors toward haven assets such as Treasuries. Crude oil gained.

(4) Binance, the world’s largest crypto exchange, said $6.3 billion of funds are involved in what the industry is describing as crypto’s biggest-ever hack. Digital tokens fell.

(5) When the taps suddenly run dry in the low-slung house that Sharlene Smith shares with her ailing mother in Westbury, Johannesburg, the 59-year-old South African is forced to leave the safety of their property, and cross dangerous territory in search of water.

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