Elon’s latest gamble

Electric cars. Space launches. Solar roofs. Now broadband. Elon Musk’s Starlink network is on track to beam internet service almost everywhere in the world by August, the billionaire entrepreneur proclaimed. His rocket company SpaceX has lofted skyward more than 1,500 of the necessary satellites while Starlink has established operations in about a dozen countries. As usual with Elon, there’s a big spend at the frontend: SpaceX’s total investment in the network could be as much as $10 billion before the cash flow turns positive. David E. Rovella

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

Here are today’s top stories  

For the first time in five years, North America beat the Asia-Pacific region in the growth of incredibly wealthy individuals—and in how quickly their riches grew.

Intel shares dropped after it said a new version of a key chip would be delayed, the latest in a series of missteps that have cost the company its tech leadership in the chip industry. Rival Advanced Micro Devices rose.

Steven and Mitchell Rales, the billionaire brothers behind industrial conglomerate Danaher Corp., shifted $3.3 billion in shares to their charitable foundations—one of the largest ever transfers of its kind. The move allocates billions of dollars for future donations from two of the world’s wealthiest people, who’ve eschewed the limelight while building a high-tech manufacturing empire.

Steven and Mitchell Rales

When it comes to who is vaccinated against Covid-19 in America, the gap between the “haves” and the “don’t wants” is widening precipitously. And while a new study showed the effectiveness of existing vaccines against the more dangerous and much more easily transmitted delta variant, others show this to be one of the worst times to be unvaccinated. In Namibia, which has Africa’s fastest-growing Covid-19 outbreak, vaccines are running out, hospitals and mortuaries are overwhelmed and the blame game has begun. The U.S. government warned this week against travel to the United Arab Emirates, citing rising cases there. Here’s the latest on the pandemic.

The rare and powerful heat wave shattering records across the U.S. Northwest is taking a bruising toll on the region’s infrastructure, buckling highways, hobbling public transit and triggering rolling power outages. 

The White House is moving from saving a bipartisan Senate infrastructure bill to trying to unify House Democrats behind both that bill and a follow-on, multitrillion dollar economic package expected to pass on a party-line vote.

U.S. Senator Joe Manchin’s alternative to the For the People Act leaves no excuse for Republican intransigence, Bloomberg’s Editorial Board writes, urging Congress not to let the voting-rights compromise go to waste.

What you’ll need to know tomorrow 

The Family Behind the Covid Bleach Cure  

When Donald Trump suggested injecting bleach as a way to stave off Covid-19, the Genesis II Church had just the “sacrament,” and the cash came tumbling in. That is, until “Operation Quack Hack” landed four of its elders in jail, Bloomberg Businessweek reports.

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Older messages

‘Freaking out’

Monday, June 28, 2021

Bloomberg There's an unpleasant surprise awaiting the richest of the rich in a 114-page document released by the US Treasury last month. Technical provisions in a new proposal (not mentioned when

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

Weekly Wrapup: Bills and Gambles

Saturday, July 24, 2021

Finshots Weekly Wrapup: Bills and Gambles In this week's wrapup we talk about the Monsoon Session of Parliament, Reliance's acquisition of Just Dial, the new drone regulations, and finally

Dangerous games

Friday, July 23, 2021

Bloomberg After a yearlong delay due to Covid-19, and some scandals and high profile resignations, the 2020 Tokyo Olympics are finally underway. The Games, the first ever without spectators, promise to

FTT Update: This Newsletter Requires Vaccination

Friday, July 23, 2021

​ ​ Hi all, Julie here. Happy Summer Friday all! Jordan and I close on our new home IN ONE WEEK! Ahhh! Keep us in your prayers as we hope that all goes well with that as well as the move itself. In the

Not Your Parents’ Mutual Funds: How Gen Z Is Investing

Friday, July 23, 2021

Why you should worry about the next crypto crash July 23, 2021 So much for babysitting or busing tables. Today's young adults are using the internet to make money, and not chump change either.

Ever Grande

Friday, July 23, 2021

Plus: Simply not Fintechery, Circle, Equity Research, Finally ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Taking Strategy Seriously

Friday, July 23, 2021

Plus! Errata, Streaming as Instant Gratification; Batteries; Shrinking Analyst Teams; Diffident Voters; Oil; Recapitalized ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren’t Even Looking to Buy

Friday, July 23, 2021

The amount you receive if your car is a total loss may fall short of its replacement cost. July 23, 2021 INSURANCE Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren't Even

Litigation Finance

Friday, July 23, 2021

Plus: Stress Tests, Revolut, Tink/Visa ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Long Slow Short

Friday, July 23, 2021

Plus: Robinhood/Distressed Investing, Banker Hours, Compound Treasury ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

What is Robinhood?

Friday, July 23, 2021

Plus: Buy Now Pay Later, M&A, Weather ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌