Bloomberg - Evening Briefing - The coming U.S. dollar crash

Evening Briefing
Bloomberg

One of the critical questions that needs answering about the pandemic is how readily the novel coronavirus is spread by people who don’t develop symptoms. With the scourge worsening every day, the World Health Organization reiterated Tuesday that the jury is still out on so-called super spreaders. Uncertainty over the issue has hindered efforts to re-open economies, with the New England Journal of Medicine previously warning that transmission by seemingly healthy people is “the Achilles’ heel of Covid-19 pandemic control.” David E. Rovella

Bloomberg is mapping the pandemic globally and across America. For the latest news, sign up for our Covid-19 podcast and daily newsletter.

Here are today’s top stories

Stephen Roach writes in Bloomberg Opinion that the world is having serious doubts about the once widely accepted concept of American exceptionalism. A crash in the dollar, he warns, may be coming.

Presumptive Democratic presidential nominee Joe Biden slammed President Donald Trump’s stewardship of the economy, saying the Republican “inherited the longest economic expansion in history from the Obama-Biden administration, but like everything else he’s inherited, he has squandered it.” The former vice president criticized Republican tax cuts that mostly benefited companies and the rich, saying Trump “turned his back on the middle class.”

The pandemic is affecting one of the best perks of workplace retirement-savings plans: company matches to employee 401(k) contributions. Firms in the hard-hit hospitality and retail industries have already suspended, reduced or deferred matches, and many more are planning or considering such a move.

Snowflake, a cloud data platform that was valued at $12.4 billion in February, has confidentially filed initial public offering paperwork.

Fangdd Network Group, a Shenzen, China-based real estate firm, nearly quintupled on Tuesday, jumping 395% to close at $47.06 per American depository receipt after starting the day at $10. No one seems to know why.

Harvard University is asking employees to consider a series of voluntary measures, including early retirement, giving up vacation and reducing work hours as it faces a revenue shortfall of $1.2 billion.

Bulgarian prosecutors call Vasil Bozhkov the nation’s most dangerous man. Now the fugitive gambling tycoon is planning to return home to exonerate himself by toppling the government.

What you’ll need to know tomorrow

What you’ll want to read tonight in Bloomberg Green

A $10 Billion Bet That the Future Is Still Plastic

By the time the ribbon is cut in 2029 on the interestingly named Sunshine Project, a $9.4 billion petrochemical plant in Louisiana’s cancer alley, single-use plastic bags will likely be restricted for most shoppers in the U.S. But Taiwanese conglomerate Formosa Plastics Group is betting plastic use will only increase as time goes on.

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Bruised and beaten

Monday, June 8, 2020

Bloomberg Follow Us Get the newsletter More than one-quarter of all those killed by the coronavirus are Americans, who despite living in the wealthiest nation in the world were nevertheless victimized

Claiming credit

Saturday, June 6, 2020

Bloomberg Follow Us Get the newsletter Pretty much everyone whiffed on the US jobs forecast when compared with numbers the Trump administration provided on Friday. The predictable stock melt-up swelled

Curfews aren’t helping

Friday, June 5, 2020

Bloomberg Follow Us Get the newsletter America's labor market defied forecasts, with payrolls rising by 2.5 million in May, according to numbers provided by the Trump administration. In April, 20.7

Sweden’s big mistake

Wednesday, June 3, 2020

Bloomberg Follow Us Get the newsletter President Donald Trump faces dwindling options to address nationwide unrest over American police killings of unarmed blacks after a backlash over his violent

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Bloomberg Follow Us Get the newsletter Nationwide protests seeking reform and accountability by taxpayer funded police departments—and justice for the unarmed African-American men and women sometimes

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