| The majority of Americans in the nation’s largest cities feel down, depressed or hopeless, according to a survey on how the coronavirus pandemic is affecting people’s mental health. Consumer sentiment has also slumped, and most people disapprove of how President Donald Trump is handling the crisis. Bank earnings signal there will be no V-shaped recovery, Blackrock’s Larry Fink warned of a “bipolar economy,” and the spate of U.S. bankruptcies may be just getting started. While America spirals downward, China’s economy has returned to growth and European carmakers are seeing signs of recovery. What you’ll want to read this weekend A mass Twitter hack compromised some big names and left a money trail for investigators to follow. Rich Mexicans are fleeing to Miami and sending money abroad. But perhaps the most watched money mystery right now: how many millions of dollars does Ghislaine Maxwell have? She doesn’t seem to know.
The best apartment deals in New York City are closest to the office you no longer go to, but tough luck if your rooftop pool is shut. Building in the burbs appears to be producing a localized V-shaped recovery, while Barcelona has invented a new affordable housing tool.
Presumptive Democratic nominee Joe Biden unveiled a $2 trillion plan to create a clean energy economy. He “gets it” on carbon-free power, Michael R. Bloomberg writes in Bloomberg Opinion. Warren Buffett’s $9.7 billion bet on natural gas looks contrarian.
How does a pandemic unfold when you’re a Wall Street billionaire? Read an account of our reporter’s conversations with a member of America’s 1%. Also read another account from a pastor looking for help in the time of pandemic who found “all the doors are shut.”
For cultural highlights you can experience via screens at home, Bloomberg Businessweek compiled a “no-concerts, no-theaters, no-sports guide.” Or watch Netflix’s 10 most popular original movies. What you’ll need to know next week The “Strike for Black Lives” walkout across America is Monday. New York City enters final phase of reopening, with caveats. Microsoft, Tesla and Twitter lead the next earnings deluge. U.K. parliament set to release report on Russian interference. Major League Baseball is set to begin with sports at a crossroads. What you’ll want to read tonight in Businessweek The University of Oxford’s vaccine candidate might be through human trials in September, compressing in less than four months a process that normally takes five years. AstraZeneca has lined up agreements to produce 2 billion doses. Could this be the one? Like Bloomberg’s Weekend Reading? 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 Close. 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. | 