Bloomberg - Evening Briefing - A bigger ransomware attack

Technology companies led a rebound in U.S. equities on Thursday after a report showing unemployment applications fell last week to a fresh pandemic low. The latest jobs report comes after mounting concern that faster inflation will prompt authorities to ease back on Covid rescue funding, and criticism from some quarters that financial aid was somehow keeping Americans from looking for work. Minutes from the Federal Reserve’s last meeting showed some officials were open to future debate on scaling back bond purchases if the U.S. economy continued to progress rapidly. Here’s your markets wrapDavid E. Rovella

Bloomberg has launched a new section called Odd Lots, an expansion of our popular markets podcast with Executive Editors Joe Weisenthal and Tracy Alloway. Become a Bloomberg.com subscriber to get access to Odd Lots exclusives on the latest market crazes, the weekly newsletter and much more. Evening Briefing subscribers get 40% off.

Here are today’s top stories  

It’s not just Colonial Pipeline that’s paying off hackers. Bloomberg News has learned that CNA Financial, among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack.

It was a busy day in Janet Yellen’s patch. The U.S. Treasury Secretary’s team proposed a 15% global minimum corporate tax as part of international negotiations aimed at ending competition among nations seeking to lure companies through cheap tax rates. “That 15% is a floor,” the Treasury said. “Discussions should continue to be ambitious and push that rate higher.”

The Treasury also said the Biden administration’s proposal to strengthen tax collection, especially among America’s rich who the government says hide half of their income, requires transfers of at least $10,000 of cryptocurrency be reported to the Internal Revenue Service.

Which was bad news for an already battered Bitcoin. Crypto markets gave back some of their gains after the Treasury announcement. Bitcoin hovered near $39,400 as investors tried to make sense of the crash Wednesday that wiped away billions of dollars and shattered the notion of crypto as a maturing asset class

Banks, especially American ones, have always backed fossil fuel over green projects, choosing profits over slowing a planetary catastrophe. But after pouring trillions of dollars into oil, gas and coal since the Paris Agreement, they may have changed course, and are on pace to commit more financing to climate-friendly projects.

Israel and Hamas agreed to an Egyptian-mediated cease-fire meant to end their 11-day conflict in the Gaza Strip, triggered in part by the threatened eviction of Palestinians from their longtime homes. Hundreds of Palestinians, including scores of children, were killed by Israeli bombing, while about a dozen Israelis and foreign workers were killed by Hamas rockets and mortars.

Barry Diller’s $260 million New York City park has opened. “Little Island” is the result of years of battles among Manhattan’s rich and powerful. The result looks like a cluster of giant white flower buds sprouting from the Hudson River. But the 2.4-acre park itself is actually an undulating platform of grass, trees and winding paths mounted on concrete piles where Pier 54 used to be

What you’ll need to know tomorrow 

Summer Vacation This Year Could Be In Space

Alan Shepard trained for two years to become the first American to go into space in 1961. Sixty years later, a deep-pocketed civilian will journey toward the stars after just a two-day warm-up. Blue Origin, the space venture founded by Jeff Bezos, is auctioning off a seat on its first crewed flight, scheduled for July 20. There have been more than 5,200 bidders from 136 countries, with the highest offer at least $2.8 million, Bloomberg Pursuits reports. After a year of lockdown, and if you have the cash, what better way to take that hard-earned vacation than leaving the planet?

Inside the Blue Origin crew capsule Photographer: Michael Craft Photography

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

Leap ahead of the competition: Get the news and ideas shaping global markets every morning with Bloomberg Surveillance. Bloomberg’s Tom Keene, Jon Ferro and Paul Sweeney are your go-to source for the latest on economics, finance, investment, politics and international relations. Subscribe now via Apple Podcasts, Spotify or wherever else you listen.

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.

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.

 

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

Older messages

Bitcoin rises again

Wednesday, May 19, 2021

Bloomberg A 31% plunge in the morning. A 33% surge in the afternoon. Such was the wild ride Bitcoin took investors on Wednesday, lopping off billions of dollars in value before comments from some big

Crypto gets hammered

Tuesday, May 18, 2021

Bloomberg The Colonial Pipeline, the crucial US fossil fuel conduit debilitated by what federal authorities said was a foreign cyberattack, ran into trouble again, leaving customers in the dark about

Biden’s turning point

Monday, May 17, 2021

Bloomberg Monday was arguably a turning point in the US fight to tame the coronavirus, which has infected and killed more Americans than citizens of any other country on the planet. Desperate to right

Inflation fears takes hold

Saturday, May 15, 2021

Bloomberg Follow Us Get the newsletter Concern is growing about US inflation as consumer prices surge. Just about everything—from seafood to doughnuts and bagels—now costs more in grocery stores.

Amazon has the keys

Friday, May 14, 2021

Bloomberg The Biden administration said it will begin updating its guidance for travel, schools and other sectors, likely further relaxing rules across the US after health officials largely lifted mask

You Might Also Like

🇨🇳 The US is out, China is in

Tuesday, March 11, 2025

Citigroup's forecast for US and Chinese stocks, Lego stacked bricks, and Boeing's investigation | Finimize Hi Reader, here's what you need to know for March 12th in 3:10 minutes. Citigroup

The Under-the-Radar Threat to Your Retirement

Tuesday, March 11, 2025

Nearly half of older adults are burdened by bad debt ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

15 Years Since We Bought Our Toxic Asset

Tuesday, March 11, 2025

In a new Planet Money plus episode, former Planet Money hosts David Kestenbaum and Chana Joffe-Walt look back at a pioneering series that sought to explain a major source of the 2008 financial crisis.

👋 Investors ditched the S&P 500

Monday, March 10, 2025

The US president didn't rule out a recession, but TSMC eased some of investors' other worries | Finimize Hi Reader, here's what you need to know for March 11th in 3:07 minutes. TSMC's

💳 Find a new credit card

Monday, March 10, 2025

Let's get those rewards ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Text and Telos

Monday, March 10, 2025

Plus! Diff Jobs; Scaling; Retail Investors; Comparative Advantage; Transaction Costs and Corporate Structure; DeepSeek Governance Text and Telos By Byrne Hobart • 10 Mar 2025 View in browser View in

Longreads + Open Thread

Saturday, March 8, 2025

Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade, Karp Longreads + Open Thread By Byrne Hobart • 8 Mar 2025 View in browser View in browser Longreads

💸 A $24 billion grocery haul

Friday, March 7, 2025

Walgreens landed in a shopping basket, crypto investors felt pranked by the president, and a burger made of skin | Finimize Hi Reader, here's what you need to know for March 8th in 3:11 minutes.

The financial toll of a divorce can be devastating

Friday, March 7, 2025

Here are some options to get back on track ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Too Big To Fail?

Friday, March 7, 2025

Revisiting Millennium and Multi-Manager Hedge Funds ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏