Biden’s $2 Trillion New Deal

U.S. President Joe Biden just rolled out his own version of FDR’s New Deal: a $2.25 trillion infrastructure package. Unveiled on Wednesday, the “American Job Plan” is being billed as the most sweeping economic investment since the original U.S. space program. In part, it’s aimed at propping up the country’s historically underfunded and largely disintegrating infrastructure. The White House plans to fund the bill by taking back some of the tax cuts Republicans gave corporations and the rich four years ago. Much like his Covid-19 rescue bill, the plan faces a narrow path through Congress. Garnering Republican support in either the House or Senate, both of which Democrats control by tiny margins, will be difficult. Even corralling moderate and progressive Democrats will be a challenge. From electric vehicle support to clean water, here’s what else is in the massive proposal. Margaret Sutherlin

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories  

A Baltimore, Maryland, plant run by Emergent BioSolutions was making two different coronavirus vaccines when its workers mixed up the ingredients, ruining 15 million doses of Johnson & Johnson’s single-shot drug, the New York Times reported. The mixup doesn’t affect J&J doses currently being administered in the U.S. Those were made in the Netherlands. Meanwhile, just as officials warned it would, the more contagious U.K. variant is the top virus strain in five regions in the U.S., and responsible for 26% of all new infections, the Centers for Disease Control and Prevention said. Pfizer reported that in an early trial of children and teens, its vaccine with BioNTech showed a 100% efficacy rate. Europe continues to struggle to contain its latest surge. France and Italy extended restrictions. Germany limited use of the AstraZeneca again, and a new study shows most of the severe side effects of the shot were in the U.K. Here’s the latest on the pandemic

Well that didn’t take long. The Securities and Exchange Commission opened a preliminary investigation into Bill Hwang over the margin call calamity that’s still roiling Wall Street. One of Credit Suisse’s biggest shareholders said losses from the Archegos Capital crisis should lead to sweeping changes. Unlike others (such as Credit Suisse), Deutsche Bank revealed it dodged a $4 billion bullet in one huge deal, helping it emerge unscathed from the debacle. Here’s your markets wrap.

Dozens of Black executives called on companies to take action against right-wing efforts to restrict access to voting via legislation that will disproportionately affect minorities. The open letter comes a week after Georgia passed a law labeled by opponents (including Biden) as the former Confederate state’s return to its Jim Crow roots. Before and after that law’s passage, most major corporations took no public position on the bill. Microsoft released a statement condemning the restrictions and Atlanta-based Delta also signaled a change in tone. But that’s about it.

Georgia is the first of many red states trying to roll back voting access.

Photographer: Megan Varner/Getty Images North America

Emotional testimony continued Wednesday in the trial of Minneapolis cop Derek Chauvin, accused of murdering George Floyd last spring. The convenience store cashier who set in motion the events that led to four Minneapolis police employees restraining and then asphyxiating Floyd told jurors he watched the killing with “disbelief—and guilt.” 

The Pentagon plans to end Trump-era policies that largely banned transgender people from serving in the military, issuing new rules that offer wider access to medical care and assistance with gender transition. 

It was supposed to be a triumph for the post-Brexit City of London, a deal that would show the world how British markets could lure hot new companies. Instead, the stock-market debut of Amazon-backed delivery service Deliveroo flopped Wednesday, a sharp blow to the City’s latest ambitions. The company slumped 31%.

A delivery via Deliveroo

Photographer: Bloomberg

No matter where you are around the world, you’ve probably heard the buzz about Netflix’s “Lupin.” The crime show, shot entirely in French, became the most-watched debut of any non-English-language series in Netflix’s history. As the company looks to build a truly global audience, it’s giving a whole lot of business to an unsung part of Hollywood: the voiceover artist. 

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg Checkout

How Americans Rediscovered a Taste for Lamb

Traditional Easter and Passover lamb-centered meals mark peak season for the often overlooked protein. But one year ago, the arrival of the pandemic sent the U.S. lamb industry into a tailspin. Then, something very unexpected happened in American kitchens

A lamb porterhouse

Photographer: Dixie D. Vereen/For The Washington Post/The Washington Post

Like getting the Evening Briefing? Subscribe to for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters.

Arm yourself with the latest developments from the world of global trade and shipping—sign up to get Bloomberg’s Supply Lines newsletter in your inbox daily.

Download the Bloomberg app: It’s available for iOS and Android.

Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.

Older messages

Margin call meltdown

Wednesday, March 31, 2021

Bloomberg Follow Us Get the newsletter The year is only three months old, but already there have been two ground-shaking blowups on Wall Street, both tied to hedge funds. First came the GameStop short-

‘Impending doom’

Monday, March 29, 2021

Bloomberg Follow Us Get the newsletter What might be the largest margin call in history is causing consternation among those on Wall Street worried about hidden leverage and its potential to fry the

The vaccine war

Saturday, March 27, 2021

Bloomberg Follow Us Get the newsletter Covid-19 cases in the US are rising again, reversing months of progress thanks to fast-spreading variants and loosened restrictions. The outlook for the European

Georgia outrage

Friday, March 26, 2021

Bloomberg Follow Us Get the newsletter It appears that the giant ship blocking the Suez Canal is going to be stuck for a lot longer. Even with an elite team trying to extricate it, experts said the

‘Un-American’ and ‘sick’

Thursday, March 25, 2021

Bloomberg Follow Us Get the newsletter US President Joe Biden had his first press conference on Thursday, promising to double the goal of 100 million Covid-19 shots during his first 100 days in office.

Venmo Is About to Get More Expensive for Millions to Use

Thursday, June 24, 2021

Venmo just announced several new fee changes in an email to users. You're probably not going to like them. June 23, 2021 EVERYDAY MONEY Venmo Is About to Get More Expensive for Millions to Use

You’re fired

Wednesday, June 23, 2021

Bloomberg The delta variant of the coronavirus is spreading rapidly in the US and now accounts for one-fifth of recent infections in the world's hardest-hit country. Meanwhile, a new study provides

🌎 EVs are taking over the world

Wednesday, June 23, 2021

When it rains EV news, it pours | Go, go gadget Europe | TOGETHER WITH Hi Reader, here's what you need to know for June 24th in 3:04 minutes. 💰 Move over, side hustlers: crypto could be your answer

FTT Update: Where's the Rocket Crashing Emoji? 🚀

Wednesday, June 23, 2021

​ ​ Hi all, Julie here. Happy hump day! In case you missed it, we published a deep dive focusing on real time payments yesterday, that we worked on with Orum and Moov. Great great explainer on

Get in the YOLO mindset

Wednesday, June 23, 2021

Crop tops, cash, and coaching. Oh my! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Anyone want to buy my old clothes?

Wednesday, June 23, 2021

plus wolves you should love + ACNH MCR June 23, 2021 • Issue #99 Dollar Scholar Dollar Scholar Hi y'all — I am not what you (or, uh, anyone) would call “fashionable.” Not only do I have a weakness

A Hacker’s Guide to Protecting Yourself Online

Wednesday, June 23, 2021

Here's how a former cybercriminal protects his own personal data June 22, 2021 CREDIT CARDS A Hacker's Guide to Protecting Yourself Online Here's how a former cybercriminal protects his own

Bitcoin takes a dive

Tuesday, June 22, 2021

Bloomberg US Federal Reserve Chair Jerome Powell acknowledged that recent price increases have been bigger than expected, but reiterated that they are temporary in nature and not emblematic of a long

😓 Soho House needs this IPO

Tuesday, June 22, 2021

Soho House has less money, mo problems | Blackstone makes itself at home | Finimize Hi Reader, here's what you need to know for June 23rd in 3:06 minutes. 📈 We're always interested in how you

Opinionated: OOO Summer Money & Career Recos 🏖

Tuesday, June 22, 2021

Plus, it's time to bring YOLO back. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌