Russia’s fear of Biden

Evening Briefing
Bloomberg

Increasingly alarmed at the prospect of a White House without Donald Trump, Russia has been trying to tilt the coming U.S. presidential election toward the Republican just as it sought to do in 2016, intelligence officials have said. But Vladimir Putin is also wondering what a President Joe Biden would mean for issues from nuclear arms to relations with China, energy exports and sanctions. The conclusion from the Kremlin seems to be that Biden would be bad news for Russia. —David E. Rovella

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Trump has chosen U.S. appeals court judge Amy Coney Barrett, a favorite of the religious right, to be his nominee for the U.S. Supreme Court, according to the New York Times. But a majority of Americans, including independents and women, say the winner of the election should pick the replacement for Justice Ruth Bader Ginsburg, according to a new poll. But Democrats, enraged that Republicans plan to push through a nominee just weeks, or even days, before the Nov. 3 vote after blocking President Barack Obama's pick for 9 months, say there is little they can do to stop them.

Deutsche Bank is revising its work-from-home policies in an effort to permanently reduce office space, adding to a growing number of lenders that are using the pandemic to cut costs.

Collateralized loan obligations are the biggest investors in the $1.2 trillion leveraged loan market, yet for months they've been bullied by hedge funds and other money managers exploiting a glaring weakness.

Trump has all but promised to dispute the election outcome if he loses, even refusing to say whether he would allow a peaceful transfer of power. Wall Street seems to be taking him at his word: Volatility markets from stocks to currencies and bonds show investors bracing for turbulence not just on Nov. 3, but for the ensuing weeks as well. The fear is that results from the vote—already the most expensive event to hedge against ever—won't be clear enough for a winner to emerge without a protracted legal battle. Here is the markets wrap for Friday.

A campaign to get Americans to work at polling places on Election Day has enlisted 500,000 volunteers; Michigan clerks will be allowed to start counting mail-in ballots before Nov. 3; and the Pennsylvania Supreme Court may have dealt a big blow to Biden's chances. Here is the latest on the campaign.

Florida Governor Ron DeSantis, left, with President Donald Trump in Washington on July 24.

Photographer: Stefani Reynolds/Bloomberg

U.S. coronavirus cases rose to more than 7 million and the pace of daily infections is increasing. U.K. and Denmark infections hit new records and Spain's cases are climbing again. Florida Governor Ron DeSantis is lifting capacity restrictions on restaurants and other businesses even as the state reports hundreds of Covid-19 deaths every week. He also said he would make it harder for local governments to institute their own safety precautions. Florida is the fifth hardest-hit U.S. state, with almost 14,000 confirmed Covid-19 deaths and close to 700,000 infections. Here is the latest on the pandemic.

Eight months after the coronavirus outbreak was declared a global health emergency, countries around the world have seen vastly different results from their efforts to fight it. This is who is winning the war, and why.

What you'll need to know tomorrow

What you'll want to read tonight in Businessweek

New Climate Weapon: Carbon-Sucking Weeds

Perched atop a bluff overlooking the Pacific, the greenhouses where Joanne Chory's plants are growing seem a touch extravagant for the typical roadside blooms here. The plant biologist, however, has big ambitions: By genetically engineering weeds to grow unusually deep, and with hefty root structures, Chory and her team are attempting to vastly increase the amount of carbon dioxide each plant sucks out of the air and buries underground.

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