Hello, here's what we're reading today:

💸 China's spoiled rich kids are learning to keep a low profile as President Xi Jinping targets pockets of extreme wealth. https://bloom.bg/3qIKfz6

📉 JPMorgan says gold will suffer for years because of Bitcoin. https://bloom.bg/3gxlwcv

💰 A billionaire's son lost $50 million while day trading as a college student. He said he felt he let his father down. https://bloom.bg/3oBV18r

💸 Morgan Stanley plans to move about 100 billion euros ($120 billion) of assets to Frankfurt, the latest Wall Street bank to shift business away from the U.K. https://bloom.bg/3qLPXjR

🇬🇧 Meanwhile negotiations between the EU and the U.K. are on course to end without a trade deal barring a dramatic last-minute intervention, sources say. https://bloom.bg/376jSeN

🍻 And away from Brexit: How a guy called Cuddles and eight of his pals rode oil’s crash to a $660 million profit. https://bloom.bg/3n4RJdF

🔒 South Korea showed it’s possible to beat Covid without lockdowns. Here’s how they did it: https://bloom.bg/3gzrGbX

🦠 A coronavirus vaccine is on the way, but U.S. cities are facing a daunting logistical and public education challenge ahead of distribution: https://bloom.bg/2LqfYF6

💻 The FTC has filed an antitrust suit against Facebook Inc. — threatening to demolish Mark Zuckerberg’s social media empire: https://bloom.bg/3oFYp1Z

📈 Asia’s most sought-after emerging market is about to get even hotter. South Korea’s Kospi index was the region’s best-performing major benchmark this year, and the won is battling the yuan for Asia’s No. 1 spot. https://bloom.bg/3oJnzNw

💉 A panel of FDA advisers voted that the benefits of Pfizer’s Covid vaccine outweigh the risks, bringing it closer to getting cleared for U.S. distribution. https://bloom.bg/37QlWXn

💰 Taihei Kobayashi started sleeping on the streets of Tokyo after dropping out of high school. Now he's the CEO of a $1 billion tech startup. https://bloom.bg/3gySKrV

🌍 EU leaders back a tough new emissions goal after a last-minute scuffle, pledging to cut pollution by at least 55% by 2030. https://bloom.bg/3a1oJ2L

📈 Wall Street’s biggest banks are predicting the world economy will get off to a rocky start in 2021, before before bouncing back as vaccines and fiscal stimulus flow. https://bloom.bg/342vKwo

🚘 One of the most exciting cars of 2021 isn’t even a car. It’s an electric truck. https://bloom.bg/2IEt9kF

🦠 White House Chief of Staff Mark Meadows suggests that FDA chief’s job could be in jeopardy if the agency doesn’t authorize Pfizer’s coronavirus vaccine by the end of the day: https://bloom.bg/3mbfI9N

🍄 Investors are taking big bets on psychedelics, believing such substances have a better chance than cannabis of boosting the mental healthcare market: https://bloom.bg/3qQTVHG

💼 The Covid pandemic disrupted professional trajectories, creating a financial reckoning akin to a mid-life crisis: https://bloom.bg/2IEn8Ez

🇸🇪 Sweden’s Covid workers are quitting in dangerous numbers. Staff are so desperate for some real time off that they see resignation as the only way out, the chairwoman of the Swedish Association of Health Professionals said. https://bloom.bg/3a6ynAW

📈 The pound rose after the U.K. and the EU agreed to go the “extra mile” in Brexit talks, keeping hopes for a late trade deal alive. https://bloom.bg/3gHsGLh

↕ Now that Tesla is joining the S&P 500, what happens next may boil down to some simple questions like how its stock should be valued. But Wall Street can’t decide if its shares are worth $90 or $780. https://bloom.bg/3acimcP

🇬🇧London Mayor Sadiq Khan called for schools to close to stem a rising tide of coronavirus infections. Khan wants schools to break early for Christmas and to reopen later than usual in January. https://bloom.bg/3mhBwR9

🚢 A tanker was hit by an explosion at the Saudi Arabian port of Jeddah, as attacks in the Red Sea mount. No casualties were reported, but it comes just three weeks after another tanker incident in Saudi waters.
https://bloom.bg/3qRO5G5

🤖 And Zoox, the self-driving startup owned by Amazon, unveiled a fully autonomous electric vehicle that can drive 16 hours on a single charge. The vehicle can carry as many as four passengers. https://bloom.bg/3oPhe2R

🗳 Joe Biden officially clinched the presidency after the Electoral College confirmed his victory Monday: https://bloom.bg/3qQPeOl

🦠 The first Covid-19 shots were administered by U.S. hospitals Monday, initiating a historic vaccination campaign: https://bloom.bg/3qSOrfI

🚚 The rich aren’t the only ones fleeing costly metro areas for southern cities. Here’s where Americans are moving during the pandemic and why they’re doing it: https://bloom.bg/3nlPZwx

Hello 👋 Here's what we're following:

🇦🇺🇨🇳 Australia is "deeply troubled" by reports that China has formally banned imports of Australian coal, which would "indicate discriminatory trade practices," the country's trade minister said. Australia’s coal producers tumbled in Sydney trading. https://bloom.bg/3oTcjOt

🏖 Oracle co-founder Larry Ellison says he’s moved to Hawaii, becoming the latest Silicon Valley executive to flee California, where he built his fortune. https://bloom.bg/34esYEm

🇬🇧 Brexit negotiations have been in the works for years. Here’s how a deal could be done this week: https://bloom.bg/3gKBFLI

💷 Property values in London's posh West End have plunged. Landlord Shaftesbury slashed the value of restaurants, bars and stores by almost 700 million pounds ($932 million) ahead of further pandemic restrictions. https://bloom.bg/3nllgQ5

🇷🇺 Russian President Vladimir Putin has finally congratulated Joe Biden for winning the U.S. Presidency, after the Electoral College formalized the victory. Putin is among the last world leaders to recognize the president-elect. https://bloom.bg/2IT14Gw

🌽 By the end of 2020, 270 million people could be living in famine conditions, according to the United Nations. Here's how we could feed two Earths' worth of people, without clearing any new farmland. https://bloom.bg/3nypNPD

💉 Moderna’s coronavirus vaccine is 94% effective in preventing Covid-19, according to an FDA report, paving the way for a second shot to gain emergency authorization: https://bloom.bg/3akNNlv

🦠 The FDA cleared the first take-home Covid-19 test. There's no prescription needed and delivers results in 15 minutes: https://bloom.bg/2LAVc5D

🚘 The number of Americans taking holiday road trips is set to drop by 25% from the same time last year as coronavirus cases surge nationwide: https://bloom.bg/34fWHg6

💰 The world’s 18th-richest person, MacKenzie Scott, is giving away her fortune at an unprecedented pace. She’s donated more than $4 billion in four months. https://bloom.bg/34hiRyJ

📩 Gmail suffered an outage for two days in a row. Google said the connectivity issues affected a “significant subset” of users. https://bloom.bg/34heSlu

🇳🇿 And New Zealand says harsh lockdowns are paying off as the economy rebounds. It's heading into the holiday season without any restrictions as many countries tighten theirs. https://bloom.bg/2Wk1xEU

😤 A new giant in the cannabis industry will be created after Canada's Tilray and Aphria agreed to merge. The deal reinforces that cannabis is a fast-evolving sector in North America and Europe.
https://bloom.bg/34hXDki

📈 A Vanguard Group equity fund has become the first of its kind to eclipse $1 trillion of assets. Soaring U.S. stocks are fueling the fund, but it's been bolstered by falling fees. https://bloom.bg/2Wm2OLC

📱It’s mid-2021. People at the airport pull out their phones, tap an app to show whether they’ve had a coronavirus vaccine, and breeze through. Here's how airlines and other industries are experimenting with digital immunity certificates. https://bloom.bg/38cKKc2

💉 A Trump administration official sought to speed the spread of the coronavirus among children and young adults in order to achieve “herd immunity,” according to newly released documents: http://bloom.bg/2IUu5S4

💵 Americans’ account balances are falling—and millions may lose jobless benefits as the stimulus aid cutoff approaches: https://bloom.bg/3ajpnsg

🚚 America’s ultra-rich are leaving Silicon Valley and Wall Street for lower-tax states, pushing large cities to financial limbo: https://bloom.bg/34mlTl0

🇷🇺 Russia and Thailand are among the handful of emerging markets that could become standouts in 2021. And no, China isn't figuring high on the list. http://bloom.bg/34kpdwW

🔥 Bitcoin topped $20,000 for the first time — so what's next? Experts Dave Weisberger, co-founder of trading software provider CoinRoutes, and Frances Coppola, author of “The Case for People’s Quantitative Easing,” weigh in. http://bloom.bg/3ms1voI

🎮 Scalpers are using bots to snap up scarce supplies of the PlayStation 5, threatening to make Sony's launch a disaster. Furious gamers are calling out resellers for tripling the retail price to as much as $1,400. http://bloom.bg/2LKRHK7

📦 Amazon is dragging down pay in the logistics industry, turning a middle-class warehouse career into a McJob, Bloomberg analysis has found. https://bloom.bg/3oVkg5C

😷 French President Emmanuel Macron has tested positive for Covid-19 and is isolating. https://bloom.bg/38iQhOG

💸 And the work-from-home boom is here to stay — now get ready for pay cuts. https://bloom.bg/2WqxQC6

💻 At least three states were hacked as part of a suspected Russian cyber-attack that breached several U.S. government agencies: https://bloom.bg/2WroINm

🦠 The FDA is revising guidelines for Pfizer’s coronavirus vaccine to include information for monitoring side effects after some recipients report rare allergic reactions: http://bloom.bg/34nfqX2

💵 Personal incomes in every U.S. state dropped in the third quarter, underscoring the need for fresh federal aid: https://bloom.bg/3p0cxDn

Imagine your employer went bankrupt and left you locked in the office indefinitely. That's what it's like for abandoned ship crews. 🚢

The pandemic has accelerated the troubling practice of tycoons abandoning their giant cargo ships, with crew and hazardous materials still on board.

That can create a nightmare of logistics, environmental hazard and human suffering, but owners — people at the core of an industry that touches almost everything in the supply chain — are rarely held accountable.

Keep reading: https://bloom.bg/2Wqazjz

💻 The scale and potential damage caused by a suspected Russian cyber hack are coming into focus, with the U.S. nuclear weapons agency and Microsoft among those saying they were exposed in the SolarWinds security breach. https://bloom.bg/38hn1aY

🎣 The EU’s chief Brexit negotiator, Michel Barnier, gives U.K. PM Boris Johnson an ultimatum: accept limits on access to the single market in return for greater control over fishing, or face no deal. https://bloom.bg/34lrMis

💡 And the founders of a Czech startup have become overnight billionaires — and unlike many recent tech success stories, they managed it without the help of venture capital. https://bloom.bg/3r91Mkc