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 ...