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Exit stage right

January 16, 2021
Weekend Reading
Bloomberg

U.S. President Donald Trump is counting down the final days of his tumultuous term in the White House, one that is concluding with a domestic crisis unmatched in American history. Most in the U.S. want the Republican real estate developer to disappear from politics. Shunned by businesses and banks for his role in the U.S. Capitol riots, he reportedly plans to live at his Mar-a-Lago resort in Florida (though some locals don't want him). Bloomberg Opinion columnist Timothy O'Brien writes that while Trump may be worried about his brand, he should be more worried about his cash. In Washington, preparations for President-elect Joe Biden's inauguration have—thanks to the Jan. 6 attack by white supremacists and other Trump followers—turned downtown into an armed camp. Some state capitols may soon look that way, too, as governors prepare to face down far-right threats. Biden, focusing on the other existential crisis faced by America, has urged swift action on his new $1.9 trillion Covid relief proposal, though even with a Democratic-controlled Congress, many of his promises may take months to fulfill.

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America. 

What you'll want to read this weekend

J&J's one-shot Covid-19 vaccine shows lasting immune response in an early study, but currently authorized vaccines are in short supply. Hotels are offering their premises as distribution sites. More than 2 million people have now died in the pandemic that began a year ago, and the infection rate is about to get much worse. In New York City, returning to normal is looking increasingly difficult.

The Covid-19 ward at Khayelitsha Hospital, outside Cape Town, South Africa, on Dec. 29.

Photographer: Rodger Bosch/AFP

Corporate America is hitting pause on campaign donations because of Trump and the Capitol attack, throwing a wrench into the congressional campaign money machine. Sephora took its boldest step so far to win back Black shoppers, and the Fed is waking up to racial issues. But even with millions unemployed, U.S. construction companies still can't find the hundreds of thousands of workers they still need.

In Japan, environmental, social and governance investing, or ESG, is so popular that Buddhist monks are getting into it. Occidental Petroleum wants to go green—to produce more oil. And banks shouldn't have to lend to oil and gun companies, the Bloomberg Editorial Board writes. 

Coming for your wallet: Goldman Sachs is one step closer to offering checking accounts to consumers, while American Express and Citigroup are dangling pandemic-related credit card perks to hold onto customers. Trading app eToro is offering $500 to lure U.S. investors to open crypto accounts.

Whisky, music and the great outdoors are among hot alternative assets in 2021. To invest in your health, consider the $1,495 LiteBoxer, the "Peloton of Boxing." 

An employee moves a wooden cask of Chivas Regal blended Scotch whisky at the company's Strathisla distillery in Keith, U.K.

Photographer: Simon Dawson/Bloomberg

What you'll need to know next week

What you'll want to read in Businessweek

Elon Musk Loves China, and China Loves Him

Tesla's unprecedented success in China has helped CEO Elon Musk become the world's richest man. Some wonder if he has also become President Xi Jinping's favorite foreign capitalist. But as Sino-U.S. relations continue to deteriorate and Beijing seizes global leadership in more key technologies, it's unclear how long Musk will be able to straddle this geopolitical fault line.

Elon Musk and friends

Photographer: Qilai Shen/Bloomberg

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Bloomberg Breakaway CEO Town Hall: With the world turned upside down by the pandemic, finding new ways to reimagine cultures of innovation can vex even the most seasoned leaders. Register here to join us on Jan. 21 for Workplace Culture in Focus: Innovating During Crisis. Hear from business leaders from Accenture, Atlassian and Maven on how to build a truly collaborative, innovative company culture in the work-from-home world.

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