The White House is looking to

disband its coronavirus task force in favor of the Federal Emergency Management Agency, Vice President Mike Pence said Tuesday. Pence portrayed the task force as having accomplished its goal of slowing the U.S. outbreak—the largest in the world. Medical experts warn, as did an internal U.S. government report, that infections and deaths will instead accelerate as the country remains hobbled by a lack of testing and some states loosen restrictions. In America alone, there have been almost 1.2 million cases of Covid-19 and more than 70,000 deaths. Two recent estimates predicted the death toll will surpass 100,000. New York Governor Andrew Cuomo warned against prematurely ending shutdowns. “How much is a human life worth? That’s the real discussion that no one is admitting openly or freely,” he said. A Republican group produced a TV advertisement that places the blame for the massive loss of American lives squarely on President Donald Trump. —Josh Petri

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

As the U.S. deaths climb and the economy continues to spiral, Trump and Secretary of State Mike Pompeo are pushing a conspiracy theory that the virus escaped from a Chinese laboratory. Global intelligence agencies—including some in America—have cast heavy doubt on the claim. Beijing is furious, and has said Trump is trying to divert attention from the his administration’s months of delays, mistakes and dismissals of the threat posed by the pathogen.

Pfizer has begun human trials of an experimental vaccine and Regeneron said an antibody treatment could be available as soon as this fall. As the global death toll rises, two tiny nations stand out: Qatar and Singapore have remarkably low fatality rates. Here’s the latest on the global pandemic.

Doctors are noting a raft of clotting-related disorders stemming from the coronavirus. If left untreated, they may manifest days to months after respiratory symptoms have resolved.

The Justice Department charged two New England restaurateurs with fraud over their application for small-business relief loans, the first U.S. criminal action related to the huge federal bailout program.

U.S. household debt reached yet another record last quarter while lenders warn that a credit clampdown is coming. Credit card companies now have a new task: figuring out who still has a job.

As traditional retail struggles, Amazon is using the global pandemic to grab market share while most of its brick-and-mortar rivals are closed. Brands that were once wary of selling through Jeff Bezos’s company are now finding they have no choice.

What’s Joe Weisenthal thinking about? The Bloomberg news director says the rhetoric surrounding job creation is changing. In the past, jobs were something created downstream from policies. Politicians would talk about corporate tax cuts or deregulation and explain that their efforts would eventually lead to more employment. Today, however, Joe says more people are talking about the government spending money to directly create jobs. Over the weekend, Mark Cuban tweeted that the federal government should be hiring millions of people to do various jobs related to the current crisis while expanding the Peace Corps.

What you’ll need to know tomorrow

Uber and Lyft were sued by California in a gig-economy crackdown.
Global temperatures last month tied for the warmest on record.
France discovers an undiagnosed coronavirus patient from last year.
Lenders grant Hertz a last-minute reprieve from potential bankruptcy.
India brings its citizens home in the world’s largest evacuation.
Wendy’s says hamburgers are in short supply at some locations.
Facebook’s Oculus is developing a new VR headset.

What you’ll want to read in Bloomberg Pursuits

The World’s Top Restaurants May Never Reopen

The future of Eleven Madison Park in New York, named the No. 1 restaurant in the world in 2017, is uncertain, says chef-owner Daniel Humm. “There is definitely a question mark over Eleven Madison Park—if it will reopen,” he said. And he is not alone. As businesses big and small gingerly prepare for reopening, few are as anxious as restaurants—especially those with reputations, critical laurels and culinary ambitions. In expensive cities such as New York and London, many operated with the tiniest of margins but powered through with huge volumes of bookings and reservations—the sheer desire of their clientele for exceptional food and ambiance. What happens now that desire is mixed with dread?

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