Evening Briefing

Democrats are demanding more concessions for a new pandemic relief package if one is to be approved by Friday. Republicans have offered $400 per week in supplemental unemployment benefits through Dec. 14, but Democrats rejected that in favor of $600 per week. The White House has put $200 billion in state and local aid on the table, but that is far less than the $1 trillion Democrats are seeking. Meanwhile, unemployment benefits are expiring and job losses are mounting as the recovery stalls and small businesses near the end of their rope There are two bright spots, however, thanks to record-low interest rates. —David E. Rovella

Here are today’s top stories

More bailout cash from Congress may delay a coming tsunami of credit card defaults by millions of Americans, but it won’t stop it.

Even China’s would-be friends are starting to worry about its growing assertiveness. Partners like Russia, Iran and Kazakhstan face concerns when it comes to Beijing’s behavior.

Former U.S. Vice President Joe Biden will deliver his nomination acceptance speech from his home state of Delaware later this month. Other speakers will also forgo travel to Milwaukee for the Democratic National Convention on the advice of health experts hoping to avoid spread of the coronavirus. President Donald Trump said Wednesday he will “probably” give his acceptance speech from the White House, a break from tradition already earning criticism for its potential legal implications. All but one of six key battleground states likely to determine the election in November have strict deadlines to receive mail-in ballots, which could lead to high rejection rates. Democrats warn that new policies slowing mail delivery ordered up by Louis DeJoy, a Trump mega-donor who runs the U.S. Postal Service, coupled with a flood of mail-in ballots will disenfranchise a large number of voters.

New York City will stop travelers from 35 states and territories with high Covid-19 transmission rates at train stations, airports, bridges and tunnel crossings to enforce quarantine rules. The city lost more than 23,000 residents to the deadly scourge, and is worried it will return in force. Here is the latest on the pandemic, which has claimed 702,000 lives worldwide.

Bank of America customers suddenly found their online accounts with the financial institution showing a balance of $0. They were not amused.

We log longer hours. We attend more meetings with more people. And, we send more emails. You knew the pandemic workday is longer than your old-fashioned 9 to 5. Now we know how much longer.

What’s Joe Weisenthal thinking about? The Bloomberg news director is diverging from conventional wisdom. It has become accepted that the stock market is detached from economic realities on the ground and around the world. But Joe begs to differ: When you look at the market sector-by-sector, things start to make sense. Some sectors you would expect to get crushed are getting crushed, while others you would expect to do well are doing well.

What you’ll need to know tomorrow

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What you’ll want to read in Bloomberg Pursuits

These Hot Vacation Spots Are In Big Trouble

From California’s wine country to Colorado’s ski towns and Florida’s beaches, American cities that built their economies around tourists are being upended by Covid-19. For many towns, day trippers are replacing free-spending vacationers. Social-distancing guidelines are crimping restaurant sales, and hotel stays have fallen dramatically.

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