A third shot is coming. U.S. regulators authorized giving an extra dose of Covid-19 vaccine to the most vulnerable people, but it’s a decision that comes with a price, as it could further exacerbate vaccine inequality across the world. Australia is facing its worst crisis since the pandemic began, while Austin, Texas, has warned residents the situation there is dire. Contrast that with the U.K., which is slowly emerging from the latest wave even after the government pushed ahead with an almost full reopening. Sam Fazeli explains in Bloomberg Opinion, the fast-spreading delta variant has increased infection risk among children, and the world apparently needs quicker—not more—antigen tests. 

The dramatic unravelling of the situation in Afghanistan puts U.S. President Joe Biden’s reputation for foreign-policy expertise at risk, Jonathan Bernstein writes in Bloomberg Opinion. In another black eye for the U.S., the International Monetary Fund is handing a $1 billion lifeline to Belarus’s authoritarian regime.

Humanity is facing a climate “code red,” the United Nations said in a withering assessment of the challenges ahead. The past decade was probably hotter than any period in the past 125,000 years, and mankind is undoubtedly the culprit. Infernos like the Dixie Fire are now the new normal for California.

An American flag near the rubble of the Greenville Library, destroyed along with the entire town by California’s Dixie Fire.

Photographer: Maranie Staab/Bloomberg

Business school programs improved their online performance in 2021, but students remain anxious to meet in person come September. U.S. public schools are headed for a legal showdown on whether wearing masks should be required. And in China, the education crackdown is forcing tutors below the radar.

Andrew Cuomo’s resignation as New York’s governor has Wall Street fretting over its political clout. Lieutenant Governor Kathy Hochul, who will replace him, vowed a speedy effort to move on from the scandal and fight the pandemic. Here’s her plan for the Empire State.

Remember the lumber surge? Turns out an unintended victim of the hot U.S. real estate market—and the soaring wood prices that resulted—was cheese. But if you want a real bargain, check out the random assortment of secondhand knick-knacks and vintage thingies along some 690 miles of the world’s biggest yard sale.

Vintage road signs in Jamestown, Tennessee.

Photographer: Luke Sharrett/Bloomberg

• A big data dump will show whether China’s economy is slowing.
• Tencent’s earnings may shine a light on China’s tech crackdown.
• Walmart heads up a big week for U.S. consumer sentiment.
• New Yorkers must present proof of vaccination for indoor dining.
• Rejoice: European club soccer returns to a screen near you.

Sponsored Content Signals of Change The essential radar that leaders need to see and seize the future. Read our new Business Futures report to learn how. Accenture

MacKenzie Scott Money Bombs Reshape U.S.

With almost $8.6 billion in gifts announced in just 12 months, MacKenzie Scott has vaulted to the top of philanthropic giving. For someone who is singlehandedly reshaping nonprofits, Scott has only given the public glimpses into the thinking driving her decisions. So to get a better sense of which causes are benefiting from Scott’s coffers—and where she might turn her attention to next—Bloomberg categorized, by location and type, all 786 gifts she has given so far.

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