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Fauci’s stark warning

September 04, 2020
Evening Briefing
Bloomberg

Anthony Fauci, America's top government infectious disease expert, said seven states should be particularly vigilant over the Labor Day holiday when it comes to coronavirus transmission. He warned that if people are careless, there could be another spike in infections and deaths this fall. Back in May, Memorial Day marked a turning point for many newly reopened states, which soon saw major outbreaks. The July 4 holiday helped trigger the worst U.S. infection rate of the summer, with new cases topping 60,000 daily. And while new infections have recently declined in some parts of the U.S., about 1,000 Americans are still dying every single day. If Labor Day is a repeat of the last two holidays, the fall may see even worse loss of life. —David E. Rovella

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Here are today's top stories

Drugmakers promised vaccines for the novel coronavirus in record time. Now, the biggest assessment yet of those pledges is fast approaching. The first results showing whether a vaccine can stop people from getting the virus could come by mid-September, from U.K.-based AstraZeneca. Two other contenders, U.S.-based Moderna and the U.S.-German partnership of Pfizer and BioNTech, may have initial data by late October. A fourth candidate, China's Sinovac Biotech, could have preliminary results shortly thereafter. These interim reports will be far from the full picture. They're only snapshots taken before a study is complete, and contain just a fraction of the data. Here is the latest on the pandemic.

Former Vice President Joe Biden met on Thursday with the family of an unarmed Black man, now paralyzed, who was shot seven times in the back by Kenosha, Wisconsin, police. Biden's trip marks his first campaign visit to the battleground state, which President Donald Trump won narrowly in 2016. Several states have asked a federal judge to order Trump megadonor Louis DeJoy, the postmaster general, to reverse his cuts to U.S. Postal Service capacity, which they contend is an effort to disenfranchise millions of voters who plan to mail in ballots. The states also said that Trump's recent call for North Carolina voters to commit voter fraud adds to the urgency of their case. Here is the latest on the campaign.

Initial U.S. unemployment claims rose last week (without adjustment for a new methodology promulgated by the federal government). Applications under the Pandemic Unemployment Assistance program, which targets the self-employed, gig workers and others who don't typically qualify for state unemployment programs, also jumped. Under the Labor Department's new calculus, initial unemployment claims fell, though the previous week isn't comparable given the change. Continuing unemployment claims fell by about 765,000 to 13.1 million, though the drop may reflect people exhausting their state benefits. Friday's jobs report may hold some good news. Not so for stocks on Thursday, however, as markets tanked.

TikTok arguably started the global debate over whether Beijing uses its mobile tech industry to snoop on users, Bloomberg Businessweek reports, but it's WeChat that polices messages and chatter in order to toe the Party line.

China is planning a sweeping set of government policies to develop its domestic semiconductor industry, countering Trump administration restrictions that have limited access to American-made products. Beijing is conferring the same kind of priority on the effort as it accorded the building of its nuclear capability. Shares of Chinese chipmakers rose.

Dubai wants you to spend your golden years in the sheikhdom. The nation is looking to attract retirees by gearing up a program first started two years ago, one that's taken on greater urgency as the business hub contends with fleeing expatriates. Under the new rules, foreigners over the age of 55 could be eligible for a five-year renewable visa.

Dubai

Boris Johnson's government is urgently working to avert a major border crisis when the U.K. leaves the European Union's trade regime, amid warnings vital government IT systems may not be ready in time.

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High Season in the Hamptons Goes Extra Innings

Labor Day traditionally signals the end of the summer season in the Hamptons, the tony New York vacation enclave for the rich. "It was called tumbleweed Tuesday," said a local real estate agent of the day after the long weekend. "You could shoot a cannon down main street." Thanks to the pandemic, this year is shaping up to be different. A fall rental out east now runs $75,000 a month.

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