Bloomberg - Evening Briefing - Crypto scrutiny grows

A proposed Covid-19 vaccine booster shot from Pfizer-BioNTech should be given to people who are most vulnerable to serious disease, including those over the age of 65, a panel of expert advisers to the U.S. Food and Drug Administration recommended. The FDA and the drug companies had originally proposed approving boosters for everyone 16 and older. But the panel rejected that idea out of concern the data to support such a broad application was thin. The non-binding advice, a blow to the Biden administration’s plan to deliver third doses to all American adults in the coming weeks, came as a government study said protection against hospitalization conferred by the Pfizer vaccine declines after four months. Moderna’s shot was found to remain stable, though. Two doses of either drug provided more protection against hospitalization than the one-dose Johnson & Johnson shot, though Pfizer’s advantage over J&J narrowed over timeDavid E. Rovella

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

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U.S. investigations into Binance Holdings, the world’s largest cryptocurrency exchange, have expanded to possible insider trading and market manipulation. As part of the inquiry, officials have been looking into whether Binance or its staff profited by taking advantage of its customers.

Treasury officials have identified what they believe are the most urgent risks posed by Tether and other stablecoins as they prepare recommendations for stricter oversight of cryptocurrencies. Ensuring investors can reliably move money in and out of tokens is a top concern for officials crafting a policy framework, set to be released in the coming weeks. They’re also worried that widespread, fire-sale runs on crypto assets could threaten financial stability.

At first no one could explain why business was picking up at Betterment, a robo-adviser aimed at new investors. There were about 10,000 signups in one day. The answer? A 25-year-old in Tennessee was posting TikTok videos describing how to use the platform to become a millionaire. Finance firms have long struggled to reach young and new customers. Now Wall Street influencers like Austin Hankwitz have arrived, and they’re making more money than bankers.

Austin Hankwitz shares videos on social media platforms to a new generation of investors. Photographer: Brett Carlsen/Bloomberg

Consumer sentiment in the U.S. rose slightly in early September but remained close to a near-decade low. Though inflation has Americans down in the dumps, it’s not keeping them from spending. A report Thursday showed retail sales rose unexpectedly last month, with gains across most categories.

The Biden administration is warning state and local governments that the risk of a default on U.S. debt could trigger a new recession and curb the flow of federal aid. The White House is urging Congress to raise or suspend the debt limit—as has been done regularly in the past—though Republicans have seized on the issue as a way to stymie Biden’s domestic fiscal agenda.

Senate Minority Leader Mitch McConnell of Kentucky rejected an appeal by Treasury Secretary Janet Yellen for Republicans to join with Democrats in raising the federal debt ceiling. Photographer: Stefani Reynolds/Bloomberg

The World Health Organization urged leaders attending the United Nations General Assembly to guarantee access to Covid vaccines, saying its targets of vaccinating 40% of every country’s population by the end of 2021, as well as 70% by mid-2022, was achievable with “genuine commitment” from countries and manufacturers. The U.K. government eased testing requirements for fully vaccinated people arriving in England, removing a significant barrier to travel and boosting airlines and tourism firms. In the U.S., parents in a conservative corner of Texas are turning one of Governor Greg Abbott’s mantras on its head, arguing in a federal lawsuit that his school mask policy is threatening the lives of their children. By following his order to keep masks voluntary, the parents say, the Allen Independent School District is violating their kids’ constitutional “right to life.” The average daily death toll from Covid-19 in the U.S. has increased almost ninefold in less than three months as the delta variant infection wave extends into autumn. Here’s the latest on the pandemic.

The submarine feud just got more serious. For the first time ever, France recalled its ambassador to the U.S., as fury in Paris over a lost Australian submarine contract continued to boil.  

What you’ll need to know tomorrow 

E-Scooters in New York City: Is There Room?

The first batch of rentable electric scooters in New York City look like they were designed with Gotham-sized potholes in mind. The new, Lime “Gen4” models boast beefier handlebars and wheels, front-suspension, a swappable battery and an overall sturdier presence than the tiny two-wheelers littering lawns and sidewalks across smaller U.S. cities. But in a city packed with street furniture, people, and traffic, is there any room?

People ride Lime scooters along the Hudson River—in New Jersey. Photographer: Gary Hershorn/Corbis News

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Bloomberg New Economy Conversations—Getting to Net Zero: The cost of scaling up renewable energy has fallen dramatically. Is 2021 the year in which we’ll see major investments in areas like green hydrogen, carbon capture and other technologies needed to prevent environmental catastrophe? What are the most promising new areas and who is at the forefront? Join New Economy Editorial Director Andrew Browne on Sept. 28 at 10 a.m. as he discusses these issues with HSBC Group Chief Executive Noel Quinn, Hyundai Motor Co. Vice President of New Energy Business Development Jae-Hyuk Oh, and others. Register here.

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Older messages

A clever tax loophole

Thursday, September 16, 2021

Bloomberg Most Americans hope their retirement accounts will allow them to stop working without falling into poverty. For the rich, those accounts have become something more—a clever tool to avoid

Waning virus protection

Wednesday, September 15, 2021

Bloomberg Pfizer says data from the US and Israel suggests that the efficacy of the Covid-19 vaccine it manufactures with BioNTech wanes over time, and that a booster dose is safe and effective at

Breaking up Wells Fargo

Tuesday, September 14, 2021

Bloomberg US Senator Elizabeth Warren urged the Federal Reserve to break up Wells Fargo, forcing the bank to separate its traditional banking and Wall Street businesses. The demand comes as the

Shrinking tax hikes

Monday, September 13, 2021

Bloomberg China is experiencing yet another Covid-19 outbreak caused by the delta variant, with dozens of infections detected in the southeastern province of Fujian less than a month after the

Twenty years lost

Saturday, September 11, 2021

Bloomberg Follow Us Get the newsletter The terrorist strikes upon the US 20 years ago today left Americans with a deep national trauma. They eventually cost them trillions of dollars in tax dollars

The art market is changing colour

Saturday, September 18, 2021

Good Morning! Creators and collectors are thronging NFT exchanges while some artists and galleries are looking to create digital derivatives of physical artworks. Plus the best of reads from the week.

Google, Apple remove Navalny app from stores as Russian elections begin — and Gitlab S-1

Friday, September 17, 2021

Issue #529 — Top 20 stories of September 18, 2021 Issue #529 — September 18, 2021 You receive this email because you are subscribed to Hacker News Digest. You can open it in the browser if you prefer.

💸 Money Cheat Sheet: Ask for More!

Thursday, October 21, 2021

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Credit Suisse’s healthcare advisory unit suffers mass exodus

Thursday, October 21, 2021

Managing director Maneet Singh resigned Wednesday... View in browser INSIDER INSIDER Subscribe Insider Exclusive ENTERPRISE Credit Suisse's healthcare advisory unit suffers mass exodus Credit

Exporters in China are raising prices by 10% or more, adding to inflation risk on top of the existing shipping crisis

Thursday, October 21, 2021

Rising input cost are prompting Chinese exporters to hike prices, adding to global inflation risk amid the global shipping crisis. View in browser Business Insider Business Insider Business Insider

Fintech News Issue #334

Thursday, October 21, 2021

The Other Side of Pandemic See Online Issue #334 2021-10-21 COVID-19 reshaped our financial world. From the way we transact, to our digital knowledge, now it seems like if we can't use cash as we

The Daily StockTips Newsletter 10.21.2021

Thursday, October 21, 2021

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Apollo CEO talks culture — Credit Suisse’s talent exodus — PayPal considers Pinterest purchase

Thursday, October 21, 2021

View in browser Insider Finance Insider Finance Subscribe Hi, and welcome to Insider Finance. This is deputy editor Meredith Mazzilli. Some news before we dive in: This is the second-to-last edition

Crimes against humanity

Wednesday, October 20, 2021

View in browser Bloomberg The White House outlined a plan to vaccinate younger children against Covid-19 once the shots are approved by regulators, a critical next step for the US to beat back the

👻 Did you miss WeWork?

Wednesday, October 20, 2021

Nestle's nothing if not a grinder | Don't call this WeWork's comeback | Finimize Hi Reader, here's what you need to know for October 21st in 3:02 minutes. 🤘 Everyone knows that stock

FTT Update: This Newsletter Will Not Be Changing Its Name

Wednesday, October 20, 2021

​ ​ Hi all, Julie here. Our first Crypto Tonight newsletter went out (twice) yesterday thanks to my fat fingers lol. Sign up here if you haven't yet, and I promise I won't make a habit of

Issue #116: My Coke Zero addiction just changed my stock strategy

Wednesday, October 20, 2021

plus Ronald McDonald + Halloween at the zoo October 20, 2021 • Issue #116 Dollar Scholar Dollar Scholar Hi y'all — Did you know there's a hamster who trades cryptocurrency? His name is Mr. Goxx