For perhaps the first time in American history, a coordinated effort to taint or even overturn a presidential election may be underway. With no evidence of wrongdoing, the Republican Party and Trump administration officials such as General Services Administration chief Emily Murphy and Attorney General William Barr have refused to acknowledge President Donald Trump’s defeat or cooperate with President-elect Joseph Biden’s transition team. Instead, they are moving forward on multiple fronts to sow doubt about the validity of mail-in ballots and the motives of election officials in states where Trump lost or is losing. On Tuesday, Secretary of State Michael Pompeo said there will be a “smooth transition to a second Trump administration.” It was unclear if he was joking. —David E. Rovella

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Here are today’s top stories

Through much of a catastrophic 2020, the financial industry has provided an oasis of stability as tens of millions of Americans lost their jobs. Not anymore: banks are firing at will, and new jobs for financial professionals are increasingly hard to come by.

Billionaire Mukesh Ambani obliterated rivals in India’s telecom sector by selling $2 data plans and free voice calls. Four years later, he’s deploying a very similar tactic, cutthroat pricing, to gain an edge in the country’s increasingly competitive e-commerce space. Yes, Asia’s richest man is coming for Jeff Bezos and Amazon.

Goldman Sachs executive Russell Horwitz was once called the most important person at the firm whose role nobody knows. Now he’s leaving. If the bank had the title of Fixer, it would have been his.

Russell Horwitz and Lloyd Blankfein

The reopening of restaurants, gyms and hotels carries the highest danger of spreading Covid-19, according to a new study that used mobile phone data from 98 million people. While recent vaccine and treatment developments are a cause for hope, in the U.S., the national infection rate is spiraling out of control, with the deadly pathogen having spread from cities to rural areas and now back to the cities. There were an unprecedented 143,000 new U.S. Covid-19 cases confirmed on Monday alone, and hospitalizations are also approaching a record. Here is the latest on the pandemic.

Two key members of the Republican-appointed majority of the U.S. Supreme Court indicated they are inclined to uphold the bulk of the Affordable Care Act as the court weighed the fate of a landmark law that provides health-insurance to 20 million people.

U.S. Supreme Court Associate Justice Brett Kavanaugh, left, and Chief Justice John Roberts on Feb. 4

Pennsylvania’s top election official is planning to move quickly to dismiss a lawsuit filed Monday by Trump’s campaign in order to certify Biden’s victory in the swing state.

The Biden transition team says Facebook, which played a central role in the Russian effort to tilt the 2016 U.S. election, is “shredding the fabric of our democracy” in the aftermath of the 2020 vote.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Pursuits

Peleton Has a Brand New Partner: Beyonce

Wall Street very much approved of fitness tech company Peleton’s announcement of a multi-year partnership with Beyonce Knowles to produce a series of workouts for its members.

Beyonce Knowles-Carter

Photographer: Gareth Cattermole/Getty Images Europe

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