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

 On today's podcast:

(1) President Joe Biden framed his momentous decision to drop out of the 2024 race as a bid to unify the nation under a new generation of leaders, in his first speech since ending his reelection campaign and political career.

(2) Donald Trump attacked Democrats on abortion, seeking to position himself as a moderate voice on the issue as he pivoted to a new general election challenger, Vice President Kamala Harris.

(3) Investors soured on the promise of artificial intelligence Wednesday, sparking a $1 trillion rout in the Nasdaq 100 Index as questions swirled over just how long it will take for the substantial investments in the technology to pay off.

(4) Chancellor of the Exchequer Rachel Reeves will tell international counterparts that Britain is “open for business” on her first overseas trip since taking office, as she continues the new Labour government’s push for growth.

(5) Thames Water asked regulators to help it avoid massive fines after it was downgraded to junk by Moody’s Ratings, adding to the financial pressure on Britain’s biggest water supplier.