U.S. Vice-President Kamala Harris strengthens her position as the frontrunner for the Democratic nomination, gaining the backing of a majority of pledged delegates. U.S. stocks rally with mega-caps clawing back some recent losses ahead of key earnings today. CNBC learns that cloud security firm Wiz has spurned Google’s $23bn takeover bid and may instead focus on listing. SAP posts a 25 per cent jump in Q2 cloud revenue, bringing the firm’s backlog to $14.8bn. And in auto news, Porsche cuts its FY sales guidance due to faltering Chinese demand and possible impairment charges linked to supply shortages.  

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