Bloomberg

Bill Gates is an optimist. He said that a coronavirus vaccine may take less time than many have predicted—perhaps as little as nine months. The Microsoft founder contends that maybe ten of the 115 drug candidates look promising. And even if finding a winner takes twice as long, it would still be the fastest vaccine development ever accomplished. —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

Millions more Americans filed for unemployment benefits last week, sending the six-week total above 30 million. But the real job picture is actually worse. Michael R. Strain writes in Bloomberg Opinion that several economists who created their own measurements agree the U.S. is experiencing an economic catastrophe.

America has about one-third of all confirmed coronavirus infections on the planet, with 1,054,261. It has more than one-quarter of all confirmed coronavirus deaths, at 61,717. Far behind in second place is Italy, with 205,463 infections and 27,967 deaths. This is the latest on the pandemic.

Former U.S. Vice President Joe Biden picked four allies to lead a committee to advise on his vice-presidential selection. The presumptive Democratic nominee, who has been attempting to mend fences with Senator Bernie Sanders (despite the best efforts of New York’s Democratic establishment), has pledged to choose a woman as his running mate.

House Speaker Nancy Pelosi said Thursday that states and cities are seeking as much as $1 trillion in aid. Republicans, some of whom have been condemned for refusing to help Democratic-leaning states where thousands have died from Covid-19, are now looking to so-called targeted aid restricted to pandemic-related expenses. Senate Majority Leader Mitch McConnell also wants a liability shield for businesses, so they can’t be sued if they open too early and workers become infected or die.

Detroit automakers are eager to restart assembly lines, pledging that safety measures they’ve developed will protect workers from the coronavirus. The only thing is that employees don’t think so. The United Auto Workers union says it wants more testing to keep members safe.

NASA has awarded contracts valued at almost $1 billion to companies including Elon Musk’s Space Exploration Technologies Corp. and Jeff Bezos’s Blue Origin to develop a moon lander.

What’s Joe Weisenthal thinking about? The Bloomberg news director says that while the recession began in late February or early March, it almost feels like economics lacks a word for what we’re experiencing right now, which might be likened to a medically induced coma. The question is whether the horrendous shock leads to a more classical recession or whether the positive impulse from reopenings can stem the negative economic tide.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg QuickTake

How North Korea Just Might Pick a New Leader

North Korea has been ruled by the Kim family since it was founded after World War II. Succession has happened only twice, with the sitting leader anointing one of his sons. But as rumors swirl about leader Kim Jong Un’s health, there is no heir apparent. This is what might happen next.

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 Clos

The global economy is at an inflection point. Sign up for the Bloomberg New Economy’s Turning Points newsletter and receive weekly insights—and solutions—on climate, tech and trade.

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.