| It’s time for a more nuanced discussion about the timing of a coronavirus vaccine and what happens when it arrives. Bloomberg Businessweek assesses the biggest challenges in the global hunt, from the patent race to anti-vaxxers. Philippines President Rodrigo Duterte expects to be inoculated with Russia’s controversial, unproven vaccine, while the best hope for mass production may come from a manufacturer in India. For now, infection flare-ups from Australia to Japan show that isolation is probably the only sure way to stop a resurgence. What you’ll want to read this weekend The S&P 500 briefly topped a record this week, and Goldman Sachs sees more room to rise. Both Apple and Tesla announced stock splits to make their lofty shares attainable again. Meanwhile, U.S. consumer sentiment remains weak, and smaller firms are being shut out of the credit boom. Former Vice President Joe Biden made a smart choice by choosing Senator Kamala Harris as his running mate, Michael R. Bloomberg writes in an op-ed. The Trump campaign tried to attack her for being too liberal and too moderate all at the same time, while Harris’s Indian connections sparked a social media frenzy. Bloomberg Green writes that she’s more driven by climate justice than climate change. Senator Kamala Harris. Photographer: Drew Angerer/Getty Images North America Uber’s warning that it may shut down in California follows its textbook legal strategy. Lyft reported its worst performance as a public company, while Airbnb’s second-quarter revenue fell 67% as it plans an IPO before year’s end.
A recent crime surge in New York City is the last straw for some well-off residents who now plan to flee, leading to a rush on upstate property deals and a plunge in Manhattan rents. About three-quarters of students in the city will attend school from one to three days a week in September.
Google has added a set of pandemic-related questions for anyone planning a trip, but no one should expect global travel to bounce back soon. And if you choose to stay close, here’s a guide to the best bikes and re-imagined nightlife where robots might replace bartenders. What you’ll need to know next week The Democratic National Convention begins, streaming big names. U.S. and China plan to review terms of their partial trade truce. OPEC+ ministers meet online to review poor compliance. India’s Modi may address a new health mission. Alibaba, Walmart, Target post results in a light earnings week. What you’ll want to read in Businessweek Memes from adherents of the scattershot, far-right conspiracy theories known cumulatively as “QAnon” have made their way into the social media accounts of people like Michael Flynn and White House social media adviser Dan Scavino. Family members, rather than social media companies, may be the last line of defense as some true believers try to go mainstream. Like Bloomberg’s Weekend Reading? Subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. Leap ahead of the competition: Get the news and ideas shaping global markets every morning with Bloomberg Surveillance. Bloomberg’s Jon Ferro, Tom Keene, Lisa Abramowicz and Paul Sweeney are your go-to source for the latest on economics, finance, investment, politics and international relations. Subscribe now via Apple Podcasts, Spotify or wherever else you listen. Download the Bloomberg app: It’s available for iOS and Android. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more. | 