Midtown Manhattan, which has been in the doldrums for much of the pandemic, has finally begun showing signs of life. But that progress may be threatened by the surge in coronavirus cases from the spread of the Delta variant.

Outlying areas soldiered on during lockdowns, sustained by residents who spent money locally because many of them were holed up at home, but the city’s central business district languished. Midtown, commonly defined as the area from 34th to 59th Streets, doesn’t have a significant residential population, and when the office workers and tourists vanished, precious few people were left.

Hotels closed. Office buildings and storefronts lost tenants. Photographs of a shockingly empty Times Square, which usually attracts nearly 360,000 people a day, telegraphed the grim situation.

MUNICH — Eight years ago, BMW was one of the first major automakers to sell a battery-powered car: The i3 broke ground with its lightweight carbon-fiber body and aluminum chassis.

But lately, the German company, known for its sporty luxury cars and “ultimate driving machines,” has fallen behind in the global race to develop the next generation of electric vehicles.

Unlike General Motors or Volvo, BMW has not set a date to bury the internal combustion engine. Unlike Volkswagen, it has not begun selling a full line of vehicles designed from the ground up to run on batteries. As other auto executives wax optimistic about an electric future, Oliver Zipse, the BMW chief executive, has criticized plans by the European Union to ban gasoline and diesel engines by 2035.

“I’m a little concerned about BMW,” said Peter Wells, director of the Center for Automotive Industry Research at Cardiff Business School in Wales. When it comes to committing to a full lineup of...

The company owes hundreds of billions of dollars. Its creditors are circling. Its shares have taken a beating. But if anything forces a reckoning for Evergrande, a vast real estate empire in China, it might be the nervousness of ordinary home buyers like Chen Cheng.

Ms. Chen, 30, and her husband thought they had found the perfect apartment. It was part of an 18-building complex in the southern city of Guangzhou, near a good school for their daughter and a new subway station.

Evergrande was asking for a deposit worth nearly one-third of the price before the property was completed. After reading headlines about the company’s financial difficulties and complaints about construction delays from recent buyers, Ms. Chen walked away.

“We don’t have a lot of money,” she said. “We were really afraid this money would evaporate.”

China has a special term for companies like Evergrande: “gray rhinos,” so large and so entangled in the country’s financial system that...

Coinbase, the cryptocurrency exchange, said on Tuesday that its quarterly revenue soared by more than 1,000 percent and profits skyrocketed nearly 4,900 percent from a year earlier, in its second earnings report as a publicly traded company.

Revenue totaled $2.2 billion in the three months ending in June, up from $186 million a year ago. Profit was $1.6 billion, compared with $32 million a year earlier.

Coinbase went public in April, around the time the price of a single Bitcoin topped a record $60,000. The digital currency has since slumped and now hovers at around $45,337. In its earnings report, Coinbase warned of volatility and said it expected trades, its main source of revenue, to fall in the coming months.

Coinbase’s listing served as a validating moment for cryptocurrencies, which have often been dismissed as a tool for criminals and speculators. But the company, which trades on the Nasdaq stock exchange and is valued at $70 billion, has shown that a...

Coinbase, the cryptocurrency exchange, said on Tuesday that its quarterly revenue soared by more than 1,000 percent and profits skyrocketed nearly 4,900 percent from a year earlier, in its second earnings report as a publicly traded company.

Revenue totaled $2.2 billion in the three months ending in June, up from $186 million a year ago. Profit was $1.6 billion, compared with $32 million a year earlier.

Coinbase went public in April, around the time the price of a single Bitcoin topped a record $60,000. The digital currency has since slumped and now hovers at around $45,337. In its earnings report, Coinbase warned of volatility and said it expected trades, its main source of revenue, to fall in the coming months.

Coinbase’s listing served as a validating moment for cryptocurrencies, which have often been dismissed as a tool for criminals and speculators. But the company, which trades on the Nasdaq stock exchange and is valued at $70 billion, has shown that a...

The company owes hundreds of billions of dollars. Its creditors are circling. Its shares have taken a beating. But if anything forces a reckoning for Evergrande, a vast real estate empire in China, it might be the nervousness of ordinary home buyers like Chen Cheng.

Ms. Chen, 30, and her husband thought they had found the perfect apartment. It was part of an 18-building complex in the southern city of Guangzhou, near a good school for their daughter and a new subway station.

Evergrande was asking for a deposit worth nearly one-third of the price before the property was completed. After reading headlines about the company’s financial difficulties and complaints about construction delays from recent buyers, Ms. Chen walked away.

“We don’t have a lot of money,” she said. “We were really afraid this money would evaporate.”

China has a special term for companies like Evergrande: “gray rhinos,” so large and so entangled in the country’s financial system that...

Hardly a day goes by without a big bank announcing a significant rise in starting salaries for its youngest employees. JPMorgan Chase, Citigroup, UBS and Morgan Stanley are now paying first-year bankers $100,000, while Evercore, Jefferies and Goldman Sachs will pay $110,000. In most cases, base salaries for first-year analysts were previously $85,000 to $95,000.

The raises come as the heavy workloads caused by high deal flow have led to complaints about burnout in the junior ranks. A notoriously grueling job has become even more challenging during the pandemic, junior bankers say, given the lack of camaraderie and networking when working in isolation from home. The surge in coronavirus cases as a result of the Delta variant has made return-to-office plans less certain, complicating many banks’ aggressive push to bring people back in the office, in part for the sake of morale.

More money could help attract and retain junior bankers, but now that most of the major...

SAN DIEGO — Robert Teglia bought a Tesla Model 3 sedan even though he knew it cost more than many luxury cars. He didn’t particularly care that it might be better than the others for the environment.

Mr. Teglia, a commercial real estate appraiser in San Diego, tallied the costs of a gasoline vehicle and a Tesla, and he realized that even after paying more to buy a battery-powered car, he would end up saving money on gas and maintenance.

“I’m a Tesla buyer who didn’t buy it for altruistic reasons,” Mr. Teglia said. “I bought it just because I think it’s awesome.” His wife, Dianne, bought one, too.

Their decision illustrates the challenge President Biden and automakers face as they push Americans to go electric to help address climate change. These cars cost much more than gasoline vehicles, which can make it hard for people who want to buy an E.V. — regardless of reason — to purchase one.

SAN DIEGO — Robert Teglia bought a Tesla Model 3 sedan even though he knew it cost more than many luxury cars. He didn’t particularly care that it might be better than the others for the environment.

Mr. Teglia, a commercial real estate appraiser in San Diego, tallied the costs of a gasoline vehicle and a Tesla, and he realized that even after paying more to buy a battery-powered car, he would end up saving money on gas and maintenance.

“I’m a Tesla buyer who didn’t buy it for altruistic reasons,” Mr. Teglia said. “I bought it just because I think it’s awesome.” His wife, Dianne, bought one, too.

Their decision illustrates the challenge President Biden and automakers face as they push Americans to go electric to help address climate change. These cars cost much more than gasoline vehicles, which can make it hard for people who want to buy an E.V. — regardless of reason — to purchase one.

Employers once again posted a record number of job openings in June as they scrambled to meet surging demand. But hiring also picked up, a sign that businesses are beginning to find a way through the labor-market logjam.

There were 10.1 million jobs available at the end of June, the Labor Department said Monday. That was up from 9.5 million in May and marked a record high for the fourth consecutive month. (The government began collecting job openings data in late 2000.)

Employers have struggled to recruit workers to fill all those jobs. But they made progress in June: They hired 6.7 million people, up nearly 700,000 from May and the most since the initial flood of post-lockdown hiring last year.

Still, hiring remains challenging for many businesses, giving workers a rare moment of leverage. There were more job openings than unemployed workers in June, a benchmark that took years to reach after the last recession. (The count of unemployed workers does not...

WASHINGTON — Treasury Secretary Janet L. Yellen reiterated her call for Congress to raise or suspend the nation’s borrowing cap on Monday, urging lawmakers to act on a bipartisan basis and warning that a default would cause “irreparable harm” to the economy.

In a letter to Congress, Ms. Yellen reminded lawmakers that raising the debt limit does not authorize or increase government spending. In fact, she said, it allows the Treasury Department to pay for expenditures that have already been enacted.

“Failure to meet those obligations would cause irreparable harm to the U.S. economy and the livelihoods of all Americans,” Ms. Yellen said.

Top Republicans, including Senator Mitch McConnell, the minority leader, have suggested that Democrats will have to lift the debt ceiling on their own using a budgetary procedure known as reconciliation.

Employers once again posted a record number of job openings in June as they scrambled to meet surging demand. But hiring also picked up, a sign that businesses are beginning to find a way through the labor-market logjam.

There were 10.1 million jobs available at the end of June, the Labor Department said Monday. That was up from 9.5 million in May and marked a record high for the fourth consecutive month. (The government began collecting job openings data in late 2000.)

Employers have struggled to recruit workers to fill all those jobs. But they made progress in June: They hired 6.7 million people, up nearly 700,000 from May and the most since the initial flood of post-lockdown hiring last year.

Still, hiring remains challenging for many businesses, giving workers a rare moment of leverage. There were more job openings than unemployed workers in June, a benchmark that took years to reach after the last recession. (The count of unemployed workers does not...

Senators spent a second weekend in a row wrangling over the details of a $1 trillion bipartisan infrastructure proposal, putting off a planned summer break. “We’re doing it the old-fashioned way,” Senator Mitt Romney, Republican of Utah, told reporters on Sunday about the many days of debate.

Republicans joined Democrats on Saturday and Sunday in two procedural votes supporting the plan to fund repairs of roads, bridges, ports and more, and to make American commutes more green with projects related to electric vehicles, biking and pedestrian access. Last night, they cleared the last hurdle before a final vote in the chamber, possibly late Monday or Tuesday.

What’s the holdup? About a dozen proposed amendments were bandied about. Some senators want states to have more leeway over how to repurpose pandemic relief funds. Others are demanding more money for public transit, which has been allotted about $40 billion, less than originally envisioned. In a rare moment of...

The apartment was just what Chanque Jones needed: four bedrooms, and $500 cheaper than the run-down house she had been renting back in Chicago. It was a fresh start for her three sons, as well as for her mobile manicure business.

Then an old eviction case turned up on a routine background check prepared for her landlord. It didn’t matter that she had gone to court and won. The fact that the case was filed at all was enough to mark her as a risk: what tenant advocates call a Scarlet E — the E standing for eviction.

“I didn’t even know about the eviction record,” Ms. Jones said.

Eviction cases are a stubborn blot on any renter’s history. They are nearly impossible to scrub away, even if the tenant made good on obligations or it was only a scare tactic by an aggressive landlord. The pandemic has given the problem new urgency: Although the Biden administration has announced a new eviction moratorium for much of the country through Oct. 3, millions of renters are...

The fund created by the estate of Jeffrey E. Epstein to compensate victims of sexual assault by the financier has wrapped up its work by paying out just over $121 million to more than 135 people — far more than expected, according to the fund’s administrator.

Jordana Feldman, the administrator of the fund, which began its work in earnest last August, said she had wanted to get money to eligible victims as quickly as possible because so many of them had been waiting for years. She said she had wanted to approve the final awards before Tuesday — the second anniversary of Mr. Epstein’s death in federal custody of an apparent suicide.

“I really wanted this process to move quickly and in a meaningful and purposeful way,” said Ms. Feldman, an attorney who also worked on the September 11th Victim Compensation Fund. “I really believe these programs are as much about validation as compensation.”

The money handed out to Mr. Epstein’s victims is considerable when...

Business travel has started again, but in fits and starts.

Hotels and airlines have reported a rise in bookings for travel in the United States in the last couple of months.

The expanded Javits Convention Center, New York City’s main convention hall, reopened on Sunday and had a number of big events on its schedule for the rest of the year, including the New York International Auto Show. Then last week, as Covid-19 cases rose, the auto show’s organizers canceled it, though the center said it was keeping other events on its books. San Diego’s convention center, which reopened last week, is still expecting a series of shows this fall. (On the calendar for Thanksgiving weekend: a “special edition” of Comic-Con.)

But the spread of the Delta variant of the coronavirus is throwing a new wrench into businesses’ plans, and the question is whether the spike in cases will be brief or more long-lived.

Travel experts said they remained optimistic that business...

SAN FRANCISCO — On a recent Wednesday evening, 60 people gathered in a virtual conference room to discuss start-up investments. Among them were a professional poker player from Arizona, an allergist in California and a kombucha maker from Tennessee. All were members of Angel Squad, a six-month $2,500 program that aims to help people break into the clubby world of venture capital as individual investors, known as “angels.”

The group listened as Eric Bahn, the instructor, rattled off anecdotes and advice from the front lines of start-up investing. “The most important question when you are an early stage investor is: What happens if things go right?” he said, stepping back from his desk and raising his hands for emphasis.

Caroline Howard, 29, one of the founders of Walker Brothers Beverage, a kombucha company in Nashville, said the class taught her how to evaluate deals. “I think it’s so fun to see companies when they’re so young and have a germ of an idea and back...

Senators spent a second weekend in a row wrangling over the details of a $1 trillion bipartisan infrastructure proposal, putting off a planned summer break. “We’re doing it the old-fashioned way,” Senator Mitt Romney, Republican of Utah, told reporters yesterday about the many days of debate.

Slow rolling to votes, the proposal survived. Republicans joined Democrats on Saturday and Sunday in two procedural votes supporting the plan to fund repairs of roads, bridges, ports and more, and to make American commutes more green with projects related to electric vehicles, biking and pedestrian access. Last night, they cleared the last hurdle before a final vote in the chamber, possibly late today or tomorrow.

What’s the holdup? About a dozen proposed amendments were bandied about. Some senators want states to have more leeway over how to repurpose coronavirus relief funds. Others are demanding more money for public transit, which has been allotted about $40 billion, less...

Sunisa Lee took home three Olympic medals — gold, silver and bronze — and, in the process, went from being little known outside the gymnastics world to a breakout star.

When she arrives at Auburn University in a few weeks, she’ll be among the first Olympians in college to be able to profit off her name and likeness since the National Collegiate Athletic Association decided in June to allow college athletes to earn money while maintaining their amateur status.

For someone of her caliber, the payout could be substantial. Lesser-known Olympians are also likely to benefit financially, as well as hundreds of collegiate athletes in football and basketball, the two big revenue-generating sports.

But the N.C.A.A. ruling means student-athletes will have a new issue to consider. In addition to playing their sport, getting an education and representing their university, many are going to want to carve out time to present their best selves — and profit from it.

Sunisa Lee took home three Olympic medals — gold, silver and bronze — and, in the process, went from being little known outside the gymnastics world to a breakout star.

When she arrives at Auburn University in a few weeks, she’ll be among the first Olympians in college to be able to profit off her name and likeness since the National Collegiate Athletic Association decided in June to allow college athletes to earn money while maintaining their amateur status.

For someone of her caliber, the payout could be substantial. Lesser-known Olympians are also likely to benefit financially, as well as hundreds of collegiate athletes in football and basketball, the two big revenue-generating sports.

But the N.C.A.A. ruling means student-athletes will have a new issue to consider. In addition to playing their sport, getting an education and representing their university, many are going to want to carve out time to present their best selves — and profit from it.

With the new college year about to begin amid a resurgent pandemic, college tuition insurance is getting new attention.

Tuition insurance is just what it sounds like: Students or their families buy a policy that will reimburse them for all or part of their tuition and other costs of attending college if the student must withdraw from school for a documented medical or mental health reason.

The average published cost of tuition, fees, and room and board at private, four-year colleges was about $51,000 last year, according to the College Board. Not all students pay full price, because of college discounts and scholarships. Even so, missing a semester and having to make it up can be costly for students and their families.

But while the coverage sounds appealing, it’s important to know the details of how a policy works and what situations are covered, insurance experts say.

The DealBook newsletter delves into a single topic or theme every weekend, providing reporting and analysis that offers a better understanding of an important issue in the news. If you don’t already receive the daily newsletter, sign up here.