Serious penalties

Chinese regulators are considering serious penalties for Didi Global after its controversial initial public offering last month. Regulators see the ride-hailing giant’s decision to go public despite pushback from Beijing as a challenge to the government’s authority. Beijing is likely to impose harsher sanctions than it did on Alibaba Group, which swallowed a record $2.8 billion fine. Penalties for Didi could go as far as forced delistingDavid E. Rovella

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

Here are today’s top stories  

So China banned coal imports from Australia. Guess who the seller is now? On June 28, the Frontier Unity bulk vessel left the port of Newport News, Virginia, with a 136,400-ton cargo bound for steelmakers in China. It was the biggest shipment of its kind from a U.S. east coast port.

Photographer: Stapczynski, Stephen Photographer: Stapczynski, Stephen

Applications for U.S. state unemployment insurance rose unexpectedly last week by the most since late March, with four states responsible for the bulk of the claims. Here’s your markets wrap.

Web content delivery company Akamai Technologies said it resolved an issue that caused widespread service disruptions Thursday for several widely used websites. Akamai was quick to say the incident wasn’t related to a cyberattack.

All over the world, the pandemic some thought was in retreat is on the march. The delta variant of the coronavirus crushed India over the last few months, resulting in a flood of infections and death. Now it’s taken hold of Southeast Asia, as Indonesia, Malaysia and Myanmar suffer. In Singapore, where concern has been directed at the elderly, the virus is now attacking the young. In the U.S., a delta-fueled fifth wave is killing mostly those who chose not to be vaccinated. Some of the dying who were taken in by purveyors of misinformation begged doctors for a vaccine, only to be told it was too late. The divergence in fates between those who aren’t vaccinated and those who are isn’t cut-and-dried, however. Even the vaccinated can be at risk—an exceedingly low one—of infection, illness and in the rarest cases death. With more than 60,000 new confirmed U.S. infections on Wednesday alone, almost double the number two weeks ago, the latest wave is growing. Cases are likely to rise to 307,000 for the week ending Aug. 14, up 39% from last week. Surges are expected in Florida and Missouri. Daily U.S. deaths due to the virus, a lagging indicator, neared 400 yesterday. Here’s the latest on the pandemic.

Metals Co., a business formed when Canadian startup DeepGreen merged with a special-purpose acquisition company, is touting seabed mining as an alternative to land-based mining. As the company prepares to go public, 530 marine-science and policy experts warn seabed mining would inflict environmental damage “irreversible on multi-generational timescales.” That should alarm not just investors, Adam Minter writes in Bloomberg Opinion, but policy makers charged with protecting the oceans.

Blizzard Entertainment's disastrous remake of the classic video game Warcraft III was the result of mismanagement and financial pressures, as corporate owner Activision pushed the developer to cut costs.

Monstrous wildfires, unprecedented superstorms, deadly temperatures? As far as Saudi Arabia is concerned, the global climate catastrophe isn’t going to get in the way of it removing “every molecule of hydrocarbon” from the ground. Bloomberg Markets pulls the curtain back on how, in erecting a fortress to safeguard oil, Saudi energy minister Prince Abdulaziz bin Salman seems to be on the wrong side of history.

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Photographer: Karim Sahib/AFP

What you’ll need to know tomorrow 

Wild Superyacht Secrets Told By a Deckhand

From tweezing crumbs off of teak floorboards to being a human coatrack, posh charter life aboard the world’s biggest luxury yachts is far from posh for the crew. But while a good yachtie isn’t seen or heard, Bloomberg Pursuits reports on how they see and hear everything. Earpieces, radios and cameras help keep a constant eye on guests and their sometimes sordid goings-on

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Wednesday, July 21, 2021

Bloomberg The US has been a pioneer in creating methods to follow diseases as they spread and mutate. The country just isn't a leader when it comes to using those tools. Scientists sequencing Covid

America’s fifth wave

Tuesday, July 20, 2021

Bloomberg Tom Barrack Jr., the founder of Colony Capital and a former top fund-raiser for Donald Trump, was indicted for illegally lobbying for the United Arab Emirates. According to federal

The gathering storm

Monday, July 19, 2021

Bloomberg For some time now, the stock market has been breaking and re-breaking records despite darkening skies. Now, investment strategists are wondering if the combination of Covid-19's fast-

Choosing danger

Saturday, July 17, 2021

Bloomberg Follow Us Get the newsletter Huge swaths of the US population, mainly those living in Republican-leaning areas, are turning down vaccines against Covid-19, helping to inflate the number of

Burned out bankers

Friday, July 16, 2021

Bloomberg Hard-nosed Wall Street CEOs have been beating the drum of late about how burned out bankers need to stop whining and get back to their desks. Appeasing young stars with perks and flexible

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

Wednesday, July 28, 2021

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Is India getting its own digital currency?

Wednesday, July 28, 2021

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

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Going backwards

Tuesday, July 27, 2021

Bloomberg It was a wrenching first hearing before the special Congressional panel investigating the deadly Jan. 6 insurrection. On that day almost seven months ago, when Congress was formalizing the

🎉 Apple, Alphabet, Microsoft: boom

Tuesday, July 27, 2021

Microsoft has requested permission to smash it | Please eject Apple before fist-pumping vigorously | Finimize Hi Reader, here's what you need to know for July 28th in 3:10 minutes. 🧐 The 1% have

Opinionated: Better Money Storylines Anyone?

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Plus, retirement dreams and leveling up your career game. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Will Robinhood Start Offering Retirement Accounts?

Tuesday, July 27, 2021

7 Things That Are Getting More Expensive July 27, 2021 Every young generation rejects the practices of those that came before. It's a tale as old as time — or at least as old as baby boomers not

[New post] Slow recoveries, endogenous growth and macroprudential policy

Tuesday, July 27, 2021

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Why cigarette companies want you to quit smoking

Tuesday, July 27, 2021

Finshots Why cigarette companies want you to quit smoking In today's Finshots we talk about why Philip Morris wants to stop selling cigarettes Business The Story Jacek Olczak, the CEO of Philip

Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment

Tuesday, July 27, 2021

A job posting offers a tantalizing clue. July 26, 2021 EVERYDAY MONEY Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment A job posting offers a tantalizing clue.