Bloomberg - Evening Briefing - Bitcoin’s turning point

The first Bitcoin-linked exchange-traded fund listed in the U.S. debuted as the second-most heavily traded on record—a feeding frenzy that might just be a watershed moment for the embattled crypto industry. ProShares Bitcoin Strategy ETF rose about 4.9% to $41.94. More than 24 million shares changed hands TuesdayDavid E. Rovella

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

Here are today’s top stories

U.S. equities extended a rally as positive corporate results helped counter continued nervousness about elevated inflation. The S&P 500 rose 0.7% as earnings at Travelers and Johnson & Johnson beat expectations. Higher commodity and freight costs weighed on shares of Procter & Gamble. Here’s your markets wrap.

The Federal Bureau of Investigation raided a Washington mansion linked to Russian billionaire Oleg Deripaska. The aluminum tycoon and his companies were targeted by U.S. Treasury Department sanctions in 2018 over his ties to President Vladimir Putin and what the U.S. called Russia’s “malign activity around the globe.”

Vladimir Putin (left) and Oleg Deripaska at the 2017 Asia-Pacific Economic Cooperation summit in Vietnam. Photographer: Mikhail Klimentyev/TASS

Salaries for U.S. tech workers in San Francisco and New York have declined for the first time in about five years, a result of the coronavirus-induced push for remote work that’s driving talent to cheaper U.S. cities.

In the early days of the pandemic, toilet paper was hard to find in American stores. Now 19 months in, it’s food that’s growing scarce.

China’s latest Covid-19 outbreak, allegedly centered around an elderly tourist couple, has now spread to Beijing and possibly beyond. In Russia, which is increasingly an epicenter of the pandemic, unvaccinated Muscovites over 60 will have to remain at home for four months starting Oct. 25 as the city faces a surge of infections. On the vaccine front, the Pfizer-BioNTech shot is proving highly effective at keeping adolescents from being hospitalized, according to the U.S. Centers for Disease Control and Prevention. Here’s the latest on the pandemic.

An emergency worker disinfects Moscow’s Leningradsky railway station on Oct. 19. Russia is seeing a surge in Covid-19 deaths and infections. Photographer: Kirill Kudryavtsev/AFP/Getty Images

Democrats are vowing to crack down on tax cheats by giving banks new requirements for disclosing accounts that have total annual inflows or withdrawals of at least $10,000. The plan would help fund President Joe Biden’s multitrillion-dollar economic agenda, potentially raising $700 billion and reducing the need for tax increases to offset new spending on health care and the climate crisis. In fact, the pace seems to be picking up in Congress on a deal to push through his plan.

Apple’s big product rollout raises a potentially uncomfortable question. At one time, just floating the idea would have been sacrilegious. But might Apple’s product design have improved since the departure of the legendary Jony Ive?

The iMac, circa 1998.

What you’ll need to know tomorrow

Latina Startups Force Beauty Giants to Catch Up

Latina entrepreneurs looking to boost corporate respect for one of the largest consumer demographics are forcing big companies to catch up. In the realm of beauty products, Hispanics are shaping the industry as shoppers and business owners. They spend 13% more than the average shopper and there’s a growing number of internet personalities and Hispanic-owned startups getting the message out. They range from wildly popular influencers to a makeup brand launched by Billboard top 5 Latin female artist Becky G.

Becky G. Courtesy of Becky G/Tresluce.

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Fear of delta-plus

Monday, October 18, 2021

View in browser Bloomberg Wall Street is wrong. The panicky talking heads are wrong. The former government officials are wrong. This seems to be the message coming from the Fed, according to minutes of

Global traffic jam

Saturday, October 16, 2021

View in browser Bloomberg Follow Us Get the newsletter Port logjams are getting worse, with broken supply chains sparking global shortages of everything from bicycles to vaccine vials. The Port of Los

China breaks the silence

Friday, October 15, 2021

View in browser Bloomberg It was another big day for the booster debate. A key advisory panel recommended US regulators approve an extra shot of the Johnson & Johnson Covid-19 vaccine. It brings

Warning on oil

Thursday, October 14, 2021

View in browser Bloomberg The energy crisis keeps getting worse. Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude

Supply chain fears grow

Thursday, October 14, 2021

Bloomberg Inflation: is it transitory? The question seemed to be on everyone's mind Wednesday. Prices paid by US consumers came in higher than expected for September, though in certain reopening

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