Covid-19 is surging — but, finally, the light at the end of the tunnel is visible. Preliminary test results indicate that vaccines being developed by Pfizer Inc. and Moderna Inc. are more effective than many dared to hope. Treatment protocols have improved and new therapies are available. The mortality rate from the virus is dropping. Medical developments aren’t the only ...

The discovery of two seemingly effective vaccines has raised hopes that the world will soon return to normal. For Europe’s banking system, however, this may not be an easy transition. Bankers are bracing themselves for a big increase in non-performing loans after this year’s deep recession. From Italy to Greece, the frailest lenders are already under strain. Regulators eased the ...

In wealthy Western countries with lots of older people, the coronavirus that causes Covid-19 has killed roughly 1% of those infected with it, meaning 99% survive. Meanwhile, two new vaccines have so far been found to be about 95% effective in preventing symptoms of the disease. Lots of people seem to have trouble thinking through percentages like these. While I ...

Bloomberg Republican Senator Pat Toomey said President Donald Trump “has exhausted all plausible legal options” in Pennsylvania, and that it was time to concede that Joe Biden won the presidential election. “President Trump should accept the outcome of the election and facilitate the presidential transition process,” Toomey said in a lengthy statement after a Trump campaign lawsuit that challenged the ...

Bloomberg Secretary of State Michael Pompeo met officials from the Taliban and Afghan government as the US seeks to keep peace negotiations on track amid renewed violence and a surprise move by the White House to accelerate the withdrawal of US troops. The Trump administration will “sit on the side and help where we can,” Pompeo said at a meeting ...

Bloomberg Hong Kong activist Joshua Wong and former Demosisto members Agnes Chow and Ivan Lam plan to plead guilty to all charges related to a siege of police headquarters in June last year. Immediate detainment could follow, Wong wrote in a Facebook post, as a trial will be skipped and the hearing set to resume on Monday will proceed straight ...

Bloomberg Voting began in Burkina Faso, where President Roch Marc Christian Kabore has spent most of his five years in office fighting an insurgency that’s forced a million people to flee their homes. He’s likely to win a second term as the insecurity disrupts voting in opposition strongholds. Large swathes of the West African gold producer have become ungovernable since ...

Bloomberg Land Rover was among the first automakers to forge a path in the highly profitable market for luxury sport utility vehicles, simplifying the technology for affluent but inexperienced off-road drivers. But the foreign-made rivals in the British company’s rearview mirror have grown closer than they might appear. Jaguar Land Rover Automotive Plc asked a US trade agency to block ...

Bloomberg Italy’s government sought parliamentary approval for 8 billion euros ($9.5 billion) of extra deficit this year, as Prime Minister Giuseppe Conte battles to shield the fragile economy from a coronavirus resurgence. A cabinet meeting chaired by Conte approved the request to parliament, according to a statement by the premier’s office. The government also signed off on a third package ...

Bloomberg The US and Taiwan signed a pact to establish annual economic talks for five years despite objections by China to Washington’s support for Taipei. The memorandum of understanding was signed after an inaugural round of economic talks in Washington. Future discussions will alternate between the US and Taipei, Brent Christensen, director of the American Institute in Taiwan, said in ...