Bloomberg - Evening Briefing - ‘Crazier’ than the dotcom bubble

Bloomberg’s Evening Briefing

The November U.S. jobs report on Friday was, in a word, weird. It showed the smallest jobs gains this year, a participation rate that was edging up, and an unemployment rate that fell more than forecast. It’s a mixed bag that may nevertheless push the Federal Reserve to quicken the wind-down of its pandemic bailout. Between the jobs report, a selloff in big tech and concerns over a hawkish-sounding Fed, it was tough day for the markets, with Nasdaq closing lower by about 2%. Here’s your markets wrap

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

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“I wish they’d never been invented.” Berkshire Hathaway’s Charlie Munger ripped into cryptocurrencies and praised China’s regulation of them during an appearance at a conference in Sydney, Australia. He also said stock valuations are “even crazier” now than the go-go 1990s.  

The world still doesn't know for sure if omicron is more transmissible than delta (though there’s some preliminary evidence), let alone if it causes more serious disease, but drugmakers continue to sound the alarm that vaccines will need to be tweaked (which means they would be making, and selling, more boosters). But nations will face an omicron wave with a new weapon: treatments that could help make infections less deadly. As of Friday, at least six U.S. states have confirmed omicron cases, with Nebraska reporting six cases. South Africa, where the variant was first detected, reported the daily number has virtually quadrupled in four days.  Here’s the latest on the pandemic

Passengers line up at check-in desks inside Cape Town International Airport in South Africa. Many travel bans on the country remain in place.   Photographer: Dwayne Senior/Bloomberg

The biggest and most exciting new hedge funds on Wall Street are all being launched by women. 

Spyware from Israel’s NSO Group was reportedly used to hack the mobile phones of at least nine U.S. State Department employees. The hacks targeted officials based in Uganda or focused on issues concerning the East African country. In November, the U.S. blacklisted NSO.

Ride hailing giant Didi is delisting from the New York Stock Exchange, bowing to pressure from Chinese regulators. The reversal—just months after its June debut—underscores the depth of the U.S.-China rivalry, Beijing’s concern about data leaks and the extent to which China will go to punish a wayward firm.

Didi Global offices in Hangzhou, China  Photographer: Qilai Shen/Bloomberg

After months of volatility triggered by a whistleblower’s revelations and disappointing quarterly results, Facebook parent company Meta neared its own bear market after losing $224 billion in value. Shares are down 20% since a September high.

Less than two months into his tenure as Consumer Financial Protection Bureau director, Rohit Chopra, who was formerly with the Federal Trade Commission, is laying the groundwork for greater scrutiny of big tech.

What you’ll need to know tomorrow

He Fought the Kremlin, and the Kremlin Won

Ilya Sachkov was once a globetrotting cybersecurity executive. Now, he’s behind bars, charged with treason in Russia and facing 20 years in a labor camp. Details of the crimes Sachkov is accused of under Russia’s authoritarian regime are shrouded in secrecy. But interviews reveal that his surprise detention has links to one of Vladimir Putin’s most notorious hacking operations: the one that sought to taint the 2016 U.S. election.

 Ilya Sachkov in 2019 Photographer: Peter Kovalev/TASS

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Omicron’s greater risk

Thursday, December 2, 2021

Bloomberg's Evening Briefing View in browser Bloomberg In some of the first data to come back on the omicron variant of the coronavirus, researchers in South Africa, where it was first identified,

‘Stench’ of politics

Wednesday, December 1, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Access to abortion as America currently knows it seems likely to shrink next year as six Republican-appointed members of the US Supreme Court

Still too early to tell

Wednesday, December 1, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Reports of mostly mild illness from Covid-19 infections caused by omicron need to be interpreted with caution because they may not reflect the

The bot who stole Christmas

Monday, November 29, 2021

Bloomberg's Evening Briefing View in browser Bloomberg While the jury is still out as scientists scramble to analyze the latest variant of the deadly coronavirus, fears that the omicron strain is

Market mayhem

Saturday, November 27, 2021

Bloomberg's Weekend Reading View in browser Bloomberg Follow Us Get the newsletter Market mayhem welcomed investors back from the Thanksgiving holiday as a new coronavirus variant was identified in

🔫 Investors fire a warning shot

Sunday, January 16, 2022

Germany's all grown up | JP made bank | TOGETHER WITH Hi Reader, here's what you need to know for January 17th in 3:12 minutes. 🇨🇳 This is the closest thing China has to an election year, and

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Sunday, January 16, 2022

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Longreads + Open Thread

Saturday, January 15, 2022

BNPL, Leverage, Taxes, Clusters, Manhattan, Asia, ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

13 eye-opening essays from Black writers to read to understand America's problems with race

Saturday, January 15, 2022

From Ida B. Wells to James Baldwin to Ta-Nehisi Coates, these free works by Black authors give important context for what's going on in the US now. View in browser Business Insider Business Insider

How long will inflation last?

Saturday, January 15, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter Wallets are hurting and the American consumer is worried. Prices are rising at the fastest clip since 1982 and

The fourth big threat

Friday, January 14, 2022

Bloomberg Evening Briefing View in browser Bloomberg While the world simultaneously grapples with a pandemic, teetering democracies and a potential superpower confrontation, a fourth threat has been

FTT Update: How Do You Announce Funding on a Friday When you Champion a 4-Day Workweek?

Friday, January 14, 2022

​ ​ Hi all, Julie here. Happy Friday and the start of a long weekend. I highly encourage everyone to support a Black-owned small business on Monday (and every day). It's a small but great step

Geriatric millennials are winning at work [Full Article]

Friday, January 14, 2022

Geriatric millennials are winning at work Read on Insider.com INSIDER INSIDER Subscribe INSIDER FEATURED ARTICLE ECONOMY Geriatric millennials are winning at work By Hillary Hoffower and Madison Hoff

From Co-ops to DAOs

Friday, January 14, 2022

Plus: Citadel Securities, JP Morgan, BlackRock ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Meet a Kroger's King Soopers worker who's striking for the first time: 'I think people are realizing they're worth more'

Friday, January 14, 2022

"Unfortunately, to work is to be abused, and people are tired of not being abused at a livable wage," a 30-year-old supervisor in Denver said. View in browser Business Insider Business