The number of Americans applying for first-time unemployment benefits fell below 1 million last week. The last time the number was that low was in March, when the pandemic began in earnest. Still, there are more Americans seeking benefits each week than at the highest point following the 2008 financial crisis. Continuing claims, the total number of Americans claiming ongoing benefits in state programs, also decreased to 15.5 million in the week ended Aug. 1, the lowest since early April. But they’re still far above historical levels going back to the 1960s. —David E. Rovella

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Here are today’s top stories

Germany recorded the highest number of new coronavirus cases in more than three months, as cases also rose in France, Greece and Spain. In America, the death toll just hit 1,500 in one day, the result of a surge of infections following the lifting of restrictions a few months ago across the South and West. Texas had more than 300 deaths Wednesday. Here is the latest on the pandemic.

President Donald Trump said he refuses to support a second recession bailout package that includes funding for the U.S. Postal Service. Such funding could make it more likely Americans who use mail-in voting during the pandemic will have their votes counted, rather than be disenfranchised because of delays. Now, there is a report that mail-sorting machines are being removed across the country.

Israel and the United Arab Emirates agreed to work toward normalized relations, with Israel agreeing to stop its efforts to annex parts of the West Bank. The deal means the UAE would join Egypt and Jordan as the only Arab countries with normal ties with Israel. Palestinians decried the agreement as a betrayal to their cause.

A view of the West Bank settlement of Ma'ale Efraim on the hills of the Jordan Valley. Israeli Prime Minister Benjamin Netanyahu had vowed to annex the valley and all of Israel's far-flung West Bank settlements.

Photographer: Ariel Schalit/AP Photo

The National Security Agency and the Federal Bureau of Investigation warned that hackers from Russia’s military intelligence unit created malware to spy on Linux systems widely used by the U.S. defense industry.

Democratic nominees Joe Biden and Kamala Harris will accept their party’s nominations from Delaware, Biden’s home state. The former vice president’s pick of the California senator this week has been a boon for fundraising.

Faced with leaner times, dealmakers are stretching to help their clients any way they can, Bloomberg Businessweek reports. Wall Street big shots are getting ready for odd jobs, because the age of the everything banker is here.

This picturesque Hudson Valley town north of New York City has the fastest rising home prices in America, as New Yorkers flee the city in the wake of the coronavirus epidemic.

What you’ll need to know tomorrow

Major antibody study found 3.4 million in England had Covid-19.
Two Chinese patients test positive months after virus recovery.
Bill Gates on hydroxychloroquine, 5G conspiracy and vaccine timing.
These frozen chicken wings tested positive for the coronavirus.
Bloomberg Opinion: Why young adults are driving infection surge.
Apple is about to bundle its services for you in one neat package.
Who gets to tear down a monument anyway?

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What you’ll want to read in Bloomberg Pursuits

Robots Could Soon Be Making Your Drink

While there seems to be a new video every day of maskless youth blithely partying outside (and inside) bars, many people have actually been drinking less during the pandemic. Half of Americans say they aren’t excited at all about heading back to their favorite watering hole—or any bar for that matter. Indeed, fear of enclosed spaces and sloppy, less-than-socially distanced crowds may change drinking culture for a long time to come. It’s already threatening the future of your friendly bartender.

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