Bloomberg - Evening Briefing - Energy crisis worsens

The global energy supply crunch, triggered by a whole host of causes, is biting harder and encroaching further into daily life from Europe to Asia. There’s a shortage of the second-most abundant element on the planet, and even the breakfast table is under threat. A severe drought in Brazil is set to ravage production of orange juice, sugar and coffee. The energy crisis has wreaked havoc in Europe, prompting U.K. Prime Minister Boris Johnson to put the army on standby to ease a fuel shortage. All told, it spells trouble for the rest of the world’s politicians. China is so worried about the winter that it ordered its top energy companies to buy up supplies, no matter the cost. But as David Fickling writes in Bloomberg Opinion, never let a good energy crisis go to waste.

What you’ll want to read this weekend

As the shortage of gas spreads, scientists are trying to work out how cold it could get in the northern hemisphere this winter. Global warming is pushing more animal species to extinction, with the latest victims including a Hawaiian forest bird and the ivory-billed woodpecker.

An ivory-billed woodpecker specimen is on a display at the California Academy of Sciences in San Francisco, Sept. 24, 2021.

Photographer: Haven Daley/AP Photo

The S&P 500 has rarely had more winners in a month than September, while the Walton family of Walmart fame—the world’s richest—held almost $5 billion in shares through a little-known firm. For the Generation Z investor, there’s an exchange-traded fund coming that’s tailored to progressive values. But for most investors, Wall Street veterans are seeing rough waters ahead for October.

Many Chinese investors have seen their life savings eroded by Evergrande Group’s slow-motion demise, but some of the country’s billionaires are getting help. South Korea’s media stocks saw an unexpected surge thanks to “Squid Game,” Netflix’s latest global hit.

Squid Game

Photographer: YOUNGKYU PARK/Netflix

Bye-bye business class. Airlines are ripping out business seats and trying to boost their bottom line on premium economy passengers. Virgin Atlantic is doubling its flights to the U.S. in preparation for the Biden administration lifting a ban on European visitors. Meanwhile, here’s where you can still fly to.

The owner of a hiking guiding company explains how he traded his computer programming gig for a life less ordinary. And for anyone who wants to splash out in California, Bloomberg Pursuits assesses Michelin’s list of 90 starred restaurants.

What you’ll need to know next week

  • Tesla investors may vote to eject Elon Musk’s brother from the board.
  • OPEC’s ministers may signal whether crude can return to $80.
  • Tories hold their conference with the U.K. in crisis.
  • China’s financial markets are closed for Golden Week. 
  • The Nobel prize season begins, starting with medicine.

What you’ll want to read in Businessweek

Yes, the Stock Market May Very Well Be Rigged

Most Americans believe the stock market is rigged, and they just may be right. Investments by insiders—a senior executive, board member, or shareholder who owns 10% or more of a company—tend to significantly and consistently outperform benchmark indexes. U.S. trading rules make it illegal for insiders to trade on nonpublic information, but it’s long been an open secret that insiders trade on what they know. And no one seems to care.

Like getting Weekend ReadingSubscribe to for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters.

Bloomberg Deals: Get the inside scoop on tomorrow’s deals today, from M&A and IPOs to SPACs, LBOs, PE, VC and more. All in our Deals newsletter. Exclusive to our subscribers. Subscribe here.

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.

Key phrases

Older messages

U.S. nears 700,000 dead

Friday, October 1, 2021

Bloomberg The US is approaching another grim milestone, a worst-case scenario that seemed almost unthinkable when the pandemic began. Close to 700000 Americans have been confirmed to have died from

Not a good sign

Thursday, September 30, 2021

Bloomberg For the stock market, September came to an uneasy end—one marked by volatility and accelerated hedging. The S&P 500 posted its worst monthly performance since March 2020, when Covid-19

China’s other debt problem

Wednesday, September 29, 2021

Bloomberg Romania's two largest cities are gearing up for new restrictions, including a night-time curfew, after a surge of Covid-19 cases across eastern Europe over the past two weeks. In Asia,

America’s Evergrande exposure

Tuesday, September 28, 2021

Bloomberg If there was any doubt the debt-ceiling fight in Washington was impacting markets, just look at Wall Street. The S&P 500 posted its worst day since May, tumbling 2% as concerns over a

Fear of a wider gas crisis

Monday, September 27, 2021

Bloomberg Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal. But there isn't enough to fuel the post-pandemic recovery and refill

Longreads + Open Thread

Saturday, October 23, 2021

Ports, Bits About Money, Sneakers, Carbon, Omakase, Nietzsche ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

One map shows how long it could take for each US state and DC to get back to pre-pandemic employment

Saturday, October 23, 2021

Utah and Idaho have already seen their labor markets return to pre-pandemic levels. This map shows when the rest of the country could recover. View in browser Business Insider Business Insider Business

Biden hunts for taxes

Saturday, October 23, 2021

View in browser Bloomberg Follow Us Get the newsletter Since the Covid-19 pandemic arrived in America, earnings have soared, stock markets have hit records and consumers lucky enough not to have been

Get ready to pay more

Friday, October 22, 2021

View in browser Bloomberg US Federal Reserve Chair Jerome Powell reiterated on Friday that “it's time to taper,” shorthand for the slow removal of financial supports that held up a once pandemic-

FTT Update: Hailey Bieber Just Invested In Fintech

Friday, October 22, 2021

​ ​ Hi all, Julie here. Excited to hang out with some fintech folks in Austin tonight at Point72 Ventures' happy hour! Jordan is stoked to meet more of you at Money2020 in a few days too. I'm

The Value of Experts

Friday, October 22, 2021

Inside GLG, the World's First "Expert Network" ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Inside the investment craze changing the face of Las Vegas

Friday, October 22, 2021

Big real estate investors known as REITs have been... View in browser INSIDER INSIDER Subscribe Insider Exclusive FINANCE Inside the investment craze changing the face of Las Vegas Big real estate

Asset manager Valkyrie's bitcoin futures ETF will start trading on Friday, reports say

Friday, October 22, 2021

The company's bitcoin futures ETF will start trading in the US on Friday, October 22, rivalling ProShares' own launch earlier this week, reports said. View in browser Business Insider Business

Blimps, Bots, and the Future of Cargo

Friday, October 22, 2021

Plus! Bitcoin's Long March: Pensions; Last Mile; Google's Laffer-Style Tax Cut; Sales ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Fintech News Issue #334

Friday, October 22, 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