Business groups including the U.S. Chamber of Commerce, the National Association of Manufacturers and the Business Roundtable have begun urging the Trump administration to cooperate with the transition. President-elect Joe Biden met with governors on Friday and excoriated the White House while warning a lack of federal Covid strategy and the blocked handover will ultimately kill Americans. For his part, President Donald Trump is moving forward as if Biden will never take office, with aides finishing up a 2022 budget. Having endured repeated losses before the courts, Trump has now invited Republican legislators from Michigan to the White House while his lawyers publicly call for them and other state officials to nullify the popular vote. Using the words “coup attempt,” Bloomberg Opinion writers warn the strategy will end in failure but permanently damage the republic. And if Trump’s long-shot somehow succeeds? University of Kentucky law professor Joshua Douglas said “it would be the end of democracy as we know it.” —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

The initial blast of enthusiasm for stocks linked to potential Covid-19 vaccines is fading as investors see a long road before those medicines, if proven effective, are commercially successful.

Leaders of the global economy warn that the slowing recovery could stop entirely as virus resurgence forces fresh restrictions across the globe. Both the International Monetary Fund and the Group of 20 expressed alarm, with the former saying elevated asset prices point to a disconnect from the real economy, and a possible threat to financial stability.

The University of Oxford said its vaccine contender (being developed with AstraZeneca) produced strong immune responses in older adults. The results, published in The Lancet, shed more light on preliminary data showing the U.K. shot can protect the most vulnerable.

Sweden’s health authorities are still skeptical about face masks despite evidence the coronavirus is spreading rapidly there and putting more people into intensive care. In the U.S., where at least 11.7 million of its 328 million inhabitants have been infected with the virus and more than a quarter million are dead, hospitalizations hit 80,000, a new record. Here is the latest on the pandemic.

Fatal flaws in the Boeing 737 Max have been fixed and the plane is safe to fly, U.S. regulators contend. Yet for travelers, a central question remains: Do I feel safe flying in a plane that crashed twice, killing 346 people? This may be the ultimate test of whether the troubled plane will ever be successful, and some flyers have already made up their mind.

Allstate has solely hired banks owned by minorities, women or veterans for its planned $1.2 billion bond sale, stiff-arming Wall Street giants.

How do you transform a Caribbean resort into a model for carbon neutrality? At Aruba’s Bucuti & Tara, it was pedal power and pigs that helped it win recognition from the United Nations.

What you’ll need to know tomorrow

• The “stay-at-home trade” is gaining favor as tech stocks climb.
• Mortgage rates in the U.S. hit yet another record low.
• CityLab: Severe transit cuts will cripple the U.S. economy.
• This hedge fund firm is giving $8 billion back to investors.
• The toughest lockdown means no outdoor exercise or dog walking.
• Businessweek: America just can’t buy enough Lysol.
• Naked Wines website crashes as Christmas lockdown orders jump.

What you’ll want to read in Bloomberg Prognosis

Colleges Do Little to Stop Thanksgiving Spread

Young Americans were blamed for much of the second coronavirus wave across the South and West this summer, as they flouted precautions in favor of partying, with deadly results for tens of thousands of older Americans. Now, as Thanksgiving nears, college students are headed home, and many schools aren’t requiring testing or quarantining to prevent them from bringing the virus back to mom, dad and grandma. 
 

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