Bloomberg - Evening Briefing - Five million dead

U.S. President Joe Biden departed for Europe last week, leaving behind an outline for an agreement on his economic plan—perhaps in the hopes that Congress might approve it while he was gone. Over the weekend, the world turned its attention to the G-20, and then to COP26 in Glasgow for the seemingly impossible task of achieving concrete commitments to slow global warming. Back in Washington, optimistic notes on Biden’s plan began to sound, with nods toward a possible deal. But then on Monday, as if to remind everyone that he and another centrist Democrat hold sway over what remains of the original package of healthcare, climate and social legislation, Senator Joe Manchin of West Virginia stepped up to a microphone. —David E. Rovella

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

While thousands of visitors to Shanghai Disneyland were lining up for roller coasters and watching fireworks above the fairytale castle on Sunday, staff sealed the park. People in Hazmat suits streamed in through the gates, testing everyone before they were allowed to leave. It seems an infection was reported nearby. Such dystopian scenes have become seemingly common these past two years. As the world enters the 23rd month of the coronavirus, the number of confirmed dead has now surpassed a once unthinkable number—5 million. And the real number is likely much higher. Here’s the latest on the pandemic.

U.S. Federal Reserve officials meet this week as consumers and companies fret that the U.S. economy is facing the most widespread supply crunch since the oil crisis of 1973. Chair Jerome Powell and his Federal Open Market Committee meet Tuesday and Wednesday as supply chains fray at multiple junctions for trade. Here’s your markets wrap.

Global corn yields could sink by almost 25% in the next eight years as the climate crisis wreaks havoc on traditional weather patterns. Rising temperatures and shifts in rainfall will make it harder to grow the crop, a staple for feeding livestock. In Scotland at COP26, Biden said America was ready to lead again in the fight against climate change, but many in Washington have other ideas. India meanwhile pledged net-zero—48 years from now. Here’s the latest on the climate summit.

Jes Staley was chief executive officer at British lender Barclays for six years. A third of that time was spent in the shadow of a regulatory investigation into a 15-year professional relationship with Jeffrey Epstein. That probe just cost him his job.

Jes Staley Photographer: Simon Dawson/Bloomberg

Zillow is looking to sell about 7,000 homes as it seeks to recover from a fumble in its high-tech home-flipping business. The company is seeking roughly $2.8 billion for the houses, which are being pitched to institutional investors.

Tomorrow is election day in the U.S. Candidates in Virginia and New Jersey, the only two states holding gubernatorial races this year, battled for last-minute voters with the election a day away. Democrats are fighting to hang onto control in both states. Here’s your election update.

All over America, hardware from Chinese companies Huawei and ZTE keeps American telecom networks humming. But concerns in Washington about Beijing espionage are about to change that. In the coming months, many of those telecoms are going to start ripping out all that gear—in part because the U.S. government plans to reimburse them.

Huawei Technologies headquarters in Shenzhen, China Photographer: Gilles Sabrie/Bloomberg

• Sinking auto steel demand reveals cracks in robust U.S. market.
• Shiba Inu has now surpassed fellow meme Dogecoin in value.
• Squid Game wipeout after 230,000% gain is warning to memecoiners.
• Bloomberg Opinion: How sc-fi, midcentury angst shaped Elon Musk.
• Trump-appointed Supreme Court justices question abortion law.
• When it comes to handling winter, Texas still hasn’t figured it out.
• New York City is seeing a renaissance in sky-high rooftop bars.

Trees beautify city neighborhoods, provide shade and help combat sometimes deadly heat. The problem is they aren’t always welcome. In Chicago, nonprofits working to improve the canopy and reduce “tree inequity” are focusing on educating residents about the benefits of trees and their maintenance. But opponents complain they require pruning and create a mess of leaves and seeds that can clog gutters and dirty cars. They can also obstruct visibility and can make streets feel unsafe. 

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