Bloomberg

Like Monty Python’s Black Knight, Bitcoin believers treat near-fatal volatility as a mere flesh wound. Drops of 80% are welcomed as buying opportunities, for example. But far from being a weakness, this might be evidence of longevity. The cryptocurrency rallied 224% this year, bringing to mind the wild advances of 2017. —David E. Rovella 

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America. 

The Bloomberg Evening Briefing will return on Monday, Dec. 28.

Here are today’s top stories 

The mutated coronavirus strain that’s been spreading in the U.K. and elsewhere appears to be more contagious. A new study shows that the variant is 56% more transmissible than other iterations of the pathogen. Here is the latest on the pandemic.

China kicked off an investigation into alleged monopolistic practices at Alibaba Group and summoned affiliate Ant Group to a high-level meeting over financial regulations, escalating scrutiny over the twin pillars of billionaire Jack Ma’s internet empire.

Deal or no deal, Brexit will still be difficult.For U.K. businesses, the last-minute trade pact with the European Union may come as a relief, avoiding some of the worst possible outcomes. But there will still be plenty of disruption to go around. Prime Minister Boris Johnson is already trying to sell the accord at home.

As the U.K. and European Union hashed out a last-minute Brexit trade deal on Dec. 23, Larry the cat kept watch at 10 Downing Street in London.

Photographer: Tolga Akmen/AFP

Johnson may have managed to avoid a less jarring exit from the bloc, but now he could face another big fight: Scottish independence.

For U.S. consumers, 2021 is looking ugly. In a week filled with dark tidings about how Americans view the economy, you should make some room for even more bad news.

Then take a few minutes to look over Bloomberg’s Year in Pictures. The past 12 months have been filled with unspeakable tragedy, catastrophic failures, unbelievable ingenuity and a few glimmers of hope for the future of humankind. See the stunning, heart-wrenching and heartwarming pictures and videos from a year you will never forget.

While 2020 was terrible for many industries, business was booming in the video game space. Sales skyrocketed, and the games were as good as ever. For anyone looking for a distraction during this holiday season, here’s a roundup of the best titles this year. 

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Checkout

No Cheer for Gig Workers Hunting for Your Gifts 

Amid the frenzied journeys to restock fridges or drop off stocking stuffers, drivers and shoppers for on-demand delivery apps like Shipt, DoorDash and Instacart must navigate a maze of pandemic-induced obstacles, any one of which can shrink their pay. The job was already a struggle to begin with. This year, and this holiday season, it’s gotten even worse.

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The Best of Bloomberg Podcasts: As 2020 finally comes to an end, use your holiday down time to catch up on the best podcasts you may have missed, including Blood River, a tale of murder, corruption and environmental activism (on Apple and Spotify), and Foundering, the story of the fall of WeWork (on Apple and Spotify).

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.