Covid-19 cases in the U.S. are rising again, reversing months of progress thanks to fast-spreading variants and loosened restrictions. The outlook for the European continent is also darkening as the battle for vaccine supply heats up and countries seek more precious shots. The European Union is ready to start withholding doses from the U.K., risking a sharp deterioration in its already Brexit-damaged relations with London. Across the pond, the country that’s consistently led the world in Covid casualties has finally done something right. After a year of catastrophic mistakes, vaccinations in America are accelerating and stockpiles growing. Part of that is due to an old law that’s so far prevented vaccine exports, though President Joe Biden did give millions of doses to Mexico and Canada. Soon, there will be a new generation of coronavirus vaccines without needles, and despite the storm clouds, nations reliant on tourism are hoping to revive travel with the help of the inoculated. Vaccine passports are fast becoming the new golden ticket.

What you’ll want to read this weekend

The costs of the Suez Canal blockage are mounting. Several vessels have changed course to take the more expensive route around Africa and avoid the massive container ship stuck in the sand. Even the price of your morning cup of joe looks set to rise as a result.

Vessels waiting to enter the Suez Canal, blocked by the Ever Given, top left.

Wall Street is trying to show its kinder side to the junior ranks, and Jefferies is so busy that it’s adding young bankers. Meanwhile, here are some tips on how to win back your boss if you've had a lousy performance review.
Red-hot black-check stocks have cooled now that U.S. regulators are taking a look. But WeWork has agreed to a $9 billion deal, and a Cathie Wood fund has bought into a Serena Williams-backed SPAC.

New York City is planning for Broadway shows to reopen in September, and New York state is ready to legalize recreational marijuana. But jetting off for a European vacation may have to wait until 2022, Andrea Felsted writes for Bloomberg Opinion.
Even if you’re not able to travel yet, it may be worth booking some crazy deals. And if you end up in Asia, these are the 50 best restaurants.

Odette restaurant at the National Gallery in Singapore.

Photographer: Nicky Loh/Bloomberg

What you’ll need to know next week

What you’ll want to read in Businessweek

Little Brown Pill May Transform the Covid Fight

Even as vaccines are rolling out worldwide, the coronavirus and its mutations still pose a major health threat. Antiviral drug molnupiravir, still in clinical trials, would give doctors an important new weapon against coronaviruses and future pandemics. This is how it works.

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