Bloomberg

Repeated warnings, including a particularly grim one Thursday on Capitol Hill, have fallen on deaf ears as U.S. cities and states move to lift stay-at-home orders and business closures. Even with Covid-19 infection rates above guideline-ranges, a national death toll surpassing 85,000 and a majority of Americans in favor of  maintaining lockdowns, certain governors and even a state supreme court are intent on throwing open the doors. Now there may be a peek into what summer in America could look like. In Hong Kong, South Korea and China, where earlier outbreaks were contained via strict lockdowns and rapid testing (two things Americans are largely unfamiliar with), the coronavirus is resurging. —David E. Rovella

Bloomberg is mapping the pandemic globally and across America. For the latest news, sign up for our Covid-19 podcast and daily newsletter.

Here are today’s top stories

The number of Americans seeking unemployment benefits remained in the millions for an eighth straight week, totaling 2.98 million. A total of 36.5 million applications for unemployment insurance have been filed since the coronavirus began shutting down businesses in mid-March.

While most Americans favor caution in lifting lockdowns, their attention span seems shorter when it comes to social distancing.

Republican Senator Richard Burr of North Carolina is temporarily stepping down as chairman of the Intelligence Committee amid a criminal investigation into whether he sold stocks based on secret briefings about the pandemic. The FBI even took his phone.

Emergency approval of the antiviral drug remdesivir as a Covid-19 treatment is the first good news of this pandemic. Bloomberg Businessweek reports how Gilead Sciences prepared for this moment.

One of the fastest growing hedge fund firms is enticing new clients with a type of fee structure not seen since the last financial crisis. The firm will waive its cut of some client profits until assets in its flagship fund reach their previous peak.

Some more good news for all those tech workers who still have jobs and can work from home. Since many big internet companies are letting employees work remotely for the foreseeable future, some are trying to shed their pricey Silicon Valley digs.

Some more bad news for all those Americans in the service industry who aren’t as lucky. One in every four U.S. restaurants may go out of business because of the pandemic.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Pursuits

Ready-to-Drink Wins the Lockdown Booze Game

People have been drinking at home a lot more these days (for obvious reasons), and the living room bar seems here to stay. There’s a big new star when it comes to lockdown drinking, it turns out: pre-mixed or “ready to drink” (RTD) cocktails. Cheap and easy wins the day.

Like Bloomberg’s Evening Briefing? 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.

Join us for the latest edition of Bloomberg New Economy Conversations: The Bill & Melinda Gates Foundation has pledged more than $125 million to assist in the development and distribution of a Covid-19 vaccine. Anita Zaidi, the foundation’s director of vaccine development and surveillance, joins Bloomberg New Economy Director Andrew Browne on Tuesday, May 19, at 10 a.m. EDT to discuss the global effort to end the pandemic. Register now to join the conversation.

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.