‘Freaking out’

There’s an unpleasant surprise awaiting the richest of the rich in a 114-page document released by the U.S. Treasury last month. Technical provisions in a new proposal (not mentioned when President Joe Biden presented his plans to raise taxes on the wealthy in April) could dismantle some of the most popular ways the richest 0.1% have legally avoided taxes for decades. Now some of them are “freaking out.” David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide

Here are today’s top stories  

U.S. financial firms seem to have collectively heard a bell ring in recent weeks, with many of the biggest banks breaking the news to workers that it’s time to suit up and come back like its 2019 all over again. But at least one lender is breaking from the pack. Synchrony Financial, the bank behind credit cards offered by Amazon.com and PayPal, told its workers they can come back, but not five days a week. It’s just the latest example of workplace flexibility that looks to outlast the pandemic.

Antitrust investigators at the U.S. Justice Department have stepped up scrutiny of Google’s digital ad market practices, showing that the Biden administration is actively pursuing a probe that started during the previous administration.

But on Monday, a federal judge threw out antitrust lawsuits filed against Facebook by the Federal Trade Commission and 40 states, in a huge victory for the social media platform.  

Tesla’s aspirations in China were dealt a major blow over the weekend after the government ordered that almost all the cars it’s sold there—more than 285,000 of them—must be fixed to address a safety issue.

Visitors look at a China-made Tesla Inc. Model 3 at the Shanghai auto show on April 27. Photographer: Qilai Shen/Bloomberg

Biden’s honeymoon with the progressive wing of his party risks an abrupt and politically damaging end as liberal Democrats fear he won’t fulfill their aspirations for climate policy or protecting voting rights.

The U.K. on Monday reported the most new coronavirus cases since January, fueled by the delta variant. Scotland had a record 3,285 new cases during the last 24 hours, the biggest daily increase since the start of the pandemic. South Africa’s official death toll has passed 60,000. Mixing doses of vaccines from Pfizer-BioNTech and AstraZeneca-University of Oxford creates a strong immune response, according to results from a University of Oxford study. Here’s the latest on the pandemic.

Danielle Anderson was working in what has become the world’s most notorious laboratory just weeks before the first known cases of Covid-19 emerged in central China. Yet the Australian virologist still wonders what she missed: she paints a very different picture of the Wuhan Institute than the one you’ve been hearing.

 Danielle Anderson  Photographer: James Bugg/Bloomberg

What you’ll need to know tomorrow 

Crushing Heat Lands on the Pacific Northwest

In New York City, heat advisories started landing in mailboxes on Sunday. But in the Pacific Northwest, no one needed to check their messages. The brutally hot weather that’s already pushed the region’s temperatures to record highs is set to get even worse. Parts of Seattle, which had its warmest day ever on Sunday with a high of 104 degrees Fahrenheit (40 degrees Celsius), could go even higher this week.

Visitors seek shade in tents on Alki Beach in Seattle on June 27. Record heat is bearing down on the Pacific Northwest, threatening fresh strains on regional power and water supplies. Photographer: Chona Kasinger/Bloomberg

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.

Watch the future unfold on June 30Register here for Bloomberg New Economy Catalyst, a global, 6-hour virtual event celebrating the innovators, scientists, policymakers and entrepreneurs accelerating solutions to today’s biggest problems. We will explore what matters, what’s next and the what-ifs of climate change, agriculture, biotech, digital money, e-commerce and space through the imaginations and stories of these ascendant leaders.

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

Crypto warning signs

Saturday, June 26, 2021

Bloomberg Follow Us Get the newsletter Get a jab or risk your job. That's the message from JPMorgan as the world grapples with the prospect of deadly Covd-19 mutations derailing the great reopening

Garland sues Georgia

Friday, June 25, 2021

Bloomberg The US Justice Department is filing a lawsuit over the sweeping new Republican-backed voting law in Georgia. Attorney General Merrick Garland said the bill, passed in March, intentionally

They have a deal

Thursday, June 24, 2021

Bloomberg After weeks of negotiations, there appears to be a US infrastructure deal. President Joe Biden celebrated the tentative, $579 billion agreement with a bipartisan group of senators. The amount

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

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

Chicken prices to the moon

Thursday, July 29, 2021

Finshots Chicken prices to the moon In today's Finshots we talk about why chicken prices are on the rise. Business The Story Over the last few weeks, chicken prices have skyrocketed across many

Fintech News Issue #322

Thursday, July 29, 2021

Crypto regulation, Embedded finance and Solarisbank, VISA buys currencycloud, Amazons new currency and more See Online Issue 322 2021-07-27 The decade of regulation started. Microsoft recently

Colleges Are Giving Students up to $25,000 Just for Getting Vaccinated

Thursday, July 29, 2021

Campuses are using creativity (and money) to encourage COVID-19 vaccinations among young people. July 28, 2021 COVID-19 Colleges Are Giving Students up to $25000 Just for Getting Vaccinated Campuses

Risk from China

Wednesday, July 28, 2021

Bloomberg Federal Reserve officials signaled they are moving closer to when they can start cutting massive support for the US economy, but Chair Jerome Powell said there was still some way to go. “We

😭 Apple hurts Facebook

Wednesday, July 28, 2021

Facebook vs privacy | McDonald's fills up | TOGETHER WITH Hi Reader, here's what you need to know for July 29th in 3:05 minutes. 🔋 What? Your city is evolving! Congratulations, your city

🚀 Announcing our new job board!

Wednesday, July 28, 2021

An easier way to find and filter open roles ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

FTT Update: And Robinhood Will IPO At...

Wednesday, July 28, 2021

​ ​ Hi all, Julie here. Sitting here on the edge of my seat waiting for this Robinhood IPO pricing to get announced. Tomorrow could get super interesting with the high retail allocation, but FTT Expert

Issue #104: Every time I pay an ATM fee I die a little inside

Wednesday, July 28, 2021

plus Gordon Ramsay + Gen Z finance July 28, 2021 • Issue #104 Dollar Scholar Dollar Scholar Hi y'all — When I was in college, I frequented a pizza joint called Satchel's. In addition to

Is India getting its own digital currency?

Wednesday, July 28, 2021

Finshots Is India getting its own digital currency? A few days back we began hearing whispers about a central bank digital currency (CBDC) and how the RBI is working on it as we speak. So in

Back-to-School Shopping Will Be More Expensive This Year

Wednesday, July 28, 2021

Shoppers should expect shortages and higher prices on computers and other school supplies. July 27, 2021 SHOPPING Back-to-School Shopping Will Be More Expensive This Year Shoppers should expect