Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
Largely dismissed after poor finishes in Iowa and New Hampshire, former U.S. Vice President Joe Biden staged a comeback, first in South Carolina and then on Super Tuesday, taking a narrow lead over Senator Bernie Sanders for the Democratic nomination. Senator Elizabeth Warren failed to win any of the 14 contests last night, including in her home state of Massachusetts. Michael Bloomberg ended his campaign and endorsed Biden after having spent at least $687 million.
Here are today’s top stories
The coronavirus continues to spread, with over 94,000 confirmed cases worldwide. New cases were reported in New York, Los Angeles, South Korea, Iran, Malaysia and India. European finance ministers warned that the outbreak threatens to plunge France and Italy (which announced a nationwide school closure) into recession. Even the release of a James Bond sequel was delayed, but the Tokyo Olympics are still on—for now.
The U.S. Congress on Wednesday agreed on a $7.8 billion emergency spending bill to combat the virus, more than triple the amount President Donald Trump requested. U.S. stocks extended gains.
Virologist Ralph Baric spends his days in a windowless, air-locked laboratory in a secret location. His job: to come up with a drug to treat the new coronavirus. Meet the virus hunter.
Not every industry is suffering from the crisis. Mortgage brokers are hiring like mad to handle demand after the Fed’s emergency rate cut.
Barnes & Noble’s new hedge fund owner has a plan to turn around America’s last big bookstore: act like an indie shop.
The U.S. Supreme Court heard oral arguments over the constitutionality of a Louisiana law requiring doctors who perform abortions to have admitting privileges at a nearby hospital. The case is seen as a major threat to reproductive rights in America, and the decision may come down to Chief Justice John Roberts.
What’s Joe Weisenthal thinking about? The Bloomberg news director says monetary policy alone will not solve the current crisis, no matter how much the Fed cuts rates. The Fed should make automatic asset purchases, Joe suggests, and promise to do so until a numerical benchmark is reached.
What you’ll need to know tomorrow
- A hedge fund pioneer is betting the coronavirus sell-off is temporary.
- This is the world’s top hot spot for the super rich.
- Tropical forests are reaching their carbon dioxide limit.
- Americans are stockpiling surprising things, like oat milk.
- And unsurprising things, like Campbell’s soup.
- Twitter is testing its own version of disappearing stories.
- Life is short. Spice it up with a hot wings party.
What you’ll want to read in Bloomberg Markets
“I’m stuck at the desk.” It’s a familiar refrain on busy trading days, but now it’s taking on new meanings for Wall Street. After spending years investing in cutting-edge analytics, fast access to outside venues and layers of surveillance, banks are finding it’s hard to relocate their human operators, even in the face of the deadly coronavirus. With the illness now reaching financial hubs like New York, firms are trying to figure out what to do with armies of employees who can’t simply log on from home.
To contact the editor responsible for this story: David Rovella at drovella@bloomberg.net
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