Bloomberg - Evening Briefing - China’s new flashpoint

The fate of President Joe Biden’s $4 trillion economic vision for the U.S. rests with Democratic lawmakers and perhaps a Republican or two who can help navigate a narrowly divided Congress. With his $1.9 trillion pandemic rescue package already law, Biden has set forth a $2.3 trillion infrastructure and manufacturing plan and a $1.8 trillion policy bundle aimed at America’s social ills. Part of his proposed method for funding these bills includes closing a loophole through which the richest of the rich have funneled billions of dollars. But with infection rates falling in many states and the urgency of the pandemic seemingly on the wane, the fight could extend into 2022. This is what to watchDavid E. Rovella

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

Here are today’s top stories 

The Group of Seven is considering a U.S. proposal to counter what the White House sees as China’s economic coercion. Europe may already be pivoting away from Beijing and toward the U.S. now that Biden is in the White House. Meanwhile, China has a new flashpoint with the U.S., and it’s already a hotspot for espionage.

The fierce new Covid-19 wave is enveloping not just India but other developing countries, especially in Southeast Asia. From Laos to Thailand, Bhutan and Nepal, many have been reporting significant surges in infections over the past few weeks. The increase is mainly because of more contagious virus variants, though complacency and a lack of resources to contain the spread have also been cited as reasons. Here’s the latest on the pandemic.

Seeking to undo one of the more furiously condemned policies of the Trump administration, Biden is moving to reunite children forcibly separated from their immigrant parents by American law enforcement.

Goldman Sachs has hatched a plan to have U.S. and U.K. employees return to offices next month as Wall Street’s march back to its skyscrapers gathers pace. Some bank worker bees however aren’t so keen.

Goldman Sachs headquarters in New York

Photographer: Michael Nagle/Bloomberg

They upended Wall Street for a few weeks earlier this year. Now it seems members of WallStreetBets have fallen victim to a cryptocurrency scam.

Crypto enthusiasts are scaling up price targets for Ether after the second-largest token’s record-breaking run, an echo of the unbridled optimism that accompanied an earlier surge in Bitcoin.

Linda Zhang started managing money in 2003. At the time, little more than 1 in 10 portfolio managers were women. Almost two decades later, that number has barely changed. Women may be getting some of the top jobs at funds, but they’re not ones that manage money.

After a career at asset managers including BlackRock and MFS Investment Management, Linda Zhang (above) started her own firm, New York-based Purview Investments.

Photographer: Lila Barth for Bloomberg Businessweek

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg’s Big Take

Booming U.S. Recovery? Not Everywhere 

The U.S. economy is on multiple tracks as minorities in some cities are being left behind by an overall boom in hiring. For Asian Americans in San Francisco and Los Angeles, low tourism and high housing costs are weighing on their rebound, while Latinos in Phoenix have benefited from a strong construction sector. In Houston, things are just tough all over. Take a look at the big picture.

Houston, Texas, where unemployment is worse than many other parts of the country.

Photographer: Callaghan O'Hare/Bloomberg

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Race against time

Monday, May 3, 2021

Bloomberg Follow Us Get the newsletter The Biden administration is supporting a move by Pfizer to begin exporting US-made doses of the coronavirus vaccine it makes in partnership with BioNTech as the

India’s desperate struggle

Saturday, May 1, 2021

Bloomberg Follow Us Get the newsletter India's spiral into the Covid-19 abyss could threaten the world's pandemic recovery. Emergency rooms there are experiencing wartime conditions and

Rich enough to retire

Friday, April 30, 2021

Bloomberg Follow Us Get the newsletter President Joe Biden's election has done little to slow the inexorable surge of wealth among US billionaires. In his first 100 days in office, amid the

Weapon for the mutation war

Thursday, April 29, 2021

Bloomberg Follow Us Get the newsletter US economic growth accelerated in the first quarter as a rush of consumer spending helped bring total output almost to its pre-pandemic level. Gross domestic

Biden’s big unveil

Wednesday, April 28, 2021

Bloomberg Follow Us Get the newsletter President Joe Biden appears to just be starting his effort to remake social welfare programs and the US government. During his first prime time address before a

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