STOCKHOLM—Business software group SAP plans to exit Russia completely in response to Moscow’s invasion of Ukraine, although it said on Tuesday it might be possible for Russian users to run its software for years without support. SAP joined a long list of companies, including rival Oracle last month in halting the sale of its services…
Moderna Says Trial Results Suggest New Bivalent Booster Vaccine Better at Protecting Against COVID Variants
Pharmaceutical and biotechnology company Moderna has said preliminary results from its study on a COVID-19 vaccine intended to protect against variants of the virus show that it outperformed its currently authorized booster shot, mRNA-1273. The company announced on April 19 that its first bivalent booster vaccine candidate, mRNA-1273.211—which includes mutations found in the Beta variant of concern—demonstrated…
S&P 500 Opens Flat as Bond Yields Hit New Highs
The benchmark S&P 500 index opened flat on Tuesday as U.S. bond yields hit new highs on expectations of aggressive interest rate hikes, while investors awaited more earnings reports to assess the impact of inflation and the Ukraine war on companies. The Dow Jones Industrial Average fell 17.07 points, or 0.05 percent, at the open…
Masks Are Now Optional on These Airlines After Biden Mandate Struck Down
Following a federal judge’s order that rescinded the federal government’s mask mandate for travel, a significant number of companies moved quickly Monday to do away with the requirement. Major U.S. carriers such as American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, Alaska Airlines, JetBlue, Frontier Airlines, and Spirit Airlines announced they would not require masks…
Dollar Climbs to Fresh 20-year High on Yen, Tests 2-year Peak on Euro
LONDON—The dollar rose on Tuesday to a fresh 20-year high against the Japanese yen and tested a two-year peak against the euro, supported by high U.S. Treasury yields. Ten-year U.S. inflation-linked bond yields are within touching distance of turning positive for the first time in two years. The dollar index, which measures the greenback against…
Uber Drops Masking Requirement for US Drivers and Passengers
Ride-sharing service Uber has announced it is relaxing its COVID-19 masking rules after a U.S. federal judge struck down a federal mask mandate for airplanes and other forms of public transportation. Uber said in a policy update on April 19 that, effective immediately, riders and drivers are no longer required to wear masks when using the…
CNN’s New President Chris Licht Announces He’s Quitting Twitter
CNN’s new president Chris Licht has said he will no longer be using Twitter after commencing his new role, stating that the platform can “skew” important issues. Licht took to Twitter on April 18 to announce that he will be ditching the social media platform as of May 2, the same day that he starts his…
Oil Dips in Volatile Trade Amid Demand Concerns, Supply Disruptions
LONDON—Oil prices slipped in volatile trading on Tuesday as investors weighed demand concerns against tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a COVID-19 shutdown. Brent crude was down $1.41, or 1.2 percent, to $111.75 a barrel at 1028 GMT, after rising more than $1 to…
European Stocks Down, Yen Hits 20-year Low as US Hikes Loom
LONDON—European shares were lower on Tuesday, while yields on 10-year U.S. inflation-linked bonds were close to turning positive for the first time in two years, as the prospect of aggressive Fed tightening to rein in inflation kept investors on edge. Investors were also preparing for the next barrage of company earnings that will help them…
Musk Says Twitter Board Will Be Paid Nothing If He Takes Over
Billionaire tech mogul Elon Musk said that, if his Twitter takeover attempt is successful, the company’s Board of Directors will go from being paid millions per year to zero. “Board salary will be $0 if my bid succeeds, so that’s ~$3 [million]/year saved right there,” Musk said in a tweet that was part of a thread…
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