Just when it seemed Americans could start half-thinking about a return to normalcy, the omicron variant presented an unpleasant dose of reality. But while chief executives are putting return-to-office plans on hold, many people are still packing into restaurants and attending big events, creating an uncomfortable disconnect. As the new winter wave of infections gathers steam, U.S. hospitals are again being pushed to the brink. Part of the problem is anti-vaxxers, but they’re not just rural conservatives—in almost half of U.S. states, Black and Hispanic inoculation rates trail those of Whites by at least 10 percentage points. In the face of a coming viral storm, President Joe Biden has been urging all Americans that it’s “past time” to get shots.

Across the Atlantic, London is pretty much a ghost town as U.K. infection numbers skyrocket. But comparing the British approach to Covid-19 with that of the U.S. doesn't work, John Authers writes in Bloomberg Opinion; Brits are blaming the misery on Prime Minister Boris Johnson’s missteps.

Inflation is now enemy No. 1, Fed Chair Jerome Powell signaled during a a busy week for central banks. Bloomberg’s Editorial Board said it was the right call for the Fed to keep its options open. The housing market isn’t looking very welcoming either: People are ricocheting between skyrocketing rents and a surging home market.

Crypto news kept coming in hot: CoinMarketCap got the blame for price glitches on Coinbase and Crypto.com this week; At least $450 million has poured into blockchain gaming this month alone; Sotheby’s made $100 million in NFT sales; Kevin Durant is promoting Coinbase; and Katie Haun has a new crypto- and web3-focused fund. Meanwhile, if you’re looking for a crypto island paradise, Puerto Rico just might be the place.

Condado Beach, Puerto Rico

Photographer: Alex Herrera/Luxury Collection Real Estate

Environmental groups and Democratic strategists are seeking to counter cost concerns in some quarters over Biden’s $2 trillion economic agenda by arguing its climate policies would cut future expenses tied to flooding, extreme heat and higher-intensity storms. Those provisions are critical to fulfilling his pledge to halve U.S. greenhouse gas emissions by 2030—but are far from enough, a new analysis showed.

If you’re searching for a gift for that hard-to-shop-for person or for yourself, here are 49 of the most fascinating, mind-blowing, challenging, hilarious and urgent titles of the year. Looking for something else? Check out $9,500 Chanel bags, the top spirits, the best EVs, the Mercedes S-Class, an old-fashioned popcorn maker or smart glasses (yes, we’re talking about those again.)

• EU to unveil green rules for gas, nuclear projects.
• Europe is bracing for another cold snap.
• Vladimir Putin holds his annual press conference.
• China’s central bank reviews loan prime rates.
• U.S. markets close Dec. 24 in observance of Christmas.

Dispatches From the Frontiers of Crypto

We spoke to investors about what drew them into the complex and risky new markets that have defined 2021. They talked about wanting to pay bills or build a financial cushion, but also about the ideas that gripped them, from the metaverse to digital art. It’s been a wild, emotional year that has changed investing—maybe forever.

Photographer: Jinhwa Jang for Bloomberg Businessweek

Photographer: Jinhwa Jang for Bloomberg Businessweek

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