A coronavirus vaccine the University of Oxford is developing with AstraZeneca showed promising results in early human testing, and is now set to move into larger trials that are likely to determine its ultimate effectiveness. Still, Wall Street wasn’t all that impressed: Shares of the pharmaceutical company fell from a record high as investors wondered whether AstraZeneca could match progress seen from Pfizer and BioNtech, as well as Moderna. —David E. Rovella

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Here are today’s top stories

European Union leaders were given a new compromise proposal for a 750 billion-euro ($858 billion) economic recovery fund as negotiations continued through a fourth day. In the U.S., Congress is already fighting over a new Covid-19 recession bailout. In New York, Governor Andrew Cuomo threatened to close down all bars and restaurants if large street city gatherings continued in some neighborhoods. And in Florida, infections may be “totally out of control.”

What you’ll need to know tomorrow

• The U.K. just ordered 90 million vaccine doses.
• Wall Street firms are looking at moving jobs out of New York City.
• Chicago may be headed for some new Covid-19 restrictions.
• Citi says it’s only a matter of time before gold hits a record.
• Saudi Arabia’s Fannie Mae just bought $800 million in mortgages.
• Kim Jong Un’s unfinished hospital shows sanctions may be biting.
• WeWork’s Adam Neumann to sell “guitar house” for $27.5 million.

What you’ll want to read in Bloomberg Pursuits

The Rich Are Ready to Leave Everyone Behind

The next time the world’s rich are forced into lockdown, they want an escape to a remote and sunny beach. Or perhaps to New Zealand, one of the few countries that have seemingly eliminated Covid-19. The wealthy are willing to pay for the privilege, of course. With the persistent threat of viral infections and sudden lockdowns, there are companies more than happy to help those with deep pockets buy access to a safe haven.

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