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Bloomberg’s Evening Briefing

Though its effectiveness in preventing infection by the omicron variant of the coronavirus is just 33%, according to new South African studies, the Pfizer-BioNTech vaccine (as well as that of Johnson & Johnson) may largely prevent severe disease from the new mutation. At the same time, leading scientists cautioned that the level of immunity against the coronavirus among South Africa’s population due to earlier infections could be masking the severity of illness caused by omicron. Also, separate studies disclosed by Pfizer on Tuesday said the pharmaceutical giant’s experimental pill was highly effective at keeping Covid-19 patients out of the hospital. Here’s the latest on the pandemic

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

Here are today’s top stories

The two Wall Street investment-banking titans dominating this year’s dealmaking frenzy are opening up their wallets to keep bankers happy. Goldman Sachs and JPMorgan are ready to pump up their bonus pools by a huge amount. The big payout is coming.

As the Federal Reserve gets ready to wrap up its final meeting of the year, another report showing U.S. inflation running hot tanked equities. Here’s your markets wrap.

The District of Columbia sued two violent far-right groups for their roles in the deadly attack on Congress Jan. 6. The Proud Boys and Oath Keepers allegedly conspired to terrorize the U.S. Capitol when a mob of followers of Donald Trump tried to stop the transfer of power, according to court papers. Meanwhile, former Trump chief of staff Mark Meadows is increasingly at the center of an investigation as to who knew what and when about the insurrection.

Mark Meadows, left, greets Trump supporters at the White House in October 2020. Photographer: Erin Scott/Bloomberg

Boris Johnson suffered his biggest rebellion since becoming U.K. prime minister, forcing him to rely on opposition votes to implement a key part of his strategy to tackle the new Covid-19 variant.

Goldman likes China. The Asian nation’s battered stocks present a buying opportunity, the bank says, as most of the headwinds facing its economy are now priced in.

Argentina’s central bank is weighing its first interest rate increase in over a year as it seeks to bring borrowing costs closer to inflation. The consideration comes amid talks with the International Monetary Fund over a new financial program.

If the financial-services industry was a country, it would rank as the world’s fifth-largest emitter of greenhouse gases. And it’s that huge carbon footprint that may trigger the next financial crisis.

What you’ll need to know tomorrow

Chanel Bags Cause a Frenzy in South Korea

Even during the deepest depths of the pandemic, you wouldn’t see people in South Korea hoarding steaks, toilet paper or pet food. Instead, they developed another new habit: waiting on lines outside department stores, beginning at 5 a.m., to buy items like a $9,500 Chanel purse. Confused? Here’s why.

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Meme stock meltdown

Monday, December 13, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Losses for a basket of so-called meme stocks are mounting, with nervous traders shifting away from riskier assets as the year nears an end.

Nailing down omicron

Saturday, December 11, 2021

Bloomberg's Weekend Reading View in browser Bloomberg Follow Us Get the newsletter This year has witnessed millions more perish from the coronavirus, a fact that will forever color its memory. The

‘We told you so’

Friday, December 10, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Hedge fund short sellers are under renewed scrutiny, and this time it's by the US government, not WallStreetBets. The Justice Department

Not too big to fail

Thursday, December 9, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Too big to fail? A Lehman moment? We'll see. China Evergrande Group has officially been labeled a defaulter for the first time, the latest

The coming crypto crash

Thursday, December 9, 2021

Bloomberg's Evening Briefing View in browser Bloomberg Pfizer and BioNTech said initial lab studies show a third dose of their Covid-19 vaccine may be needed to neutralize the omicron variant,

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