Covid rule rollback

Confirmed Covid-19 cases just topped 400 million worldwide, though the actual number is likely much higher. Still, western nations are easing restrictions as the omicron surge ebbs in Europe and America. New York lifted a mask mandate for businesses while federal officials say they are updating national guidance. The U.K. is removing its last precautions—even the need to self-isolate after a positive test. In Canada, where some truckers are demanding changes to vaccine mandates, officials are loosening rules. But in Asia, the omicron surge is far from over. Despite a Covid-zero approach, cases in Hong Kong are climbing fast. Here’s the latest on the pandemic. —Margaret Sutherlin

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

U.S. inflation data is set to be released Thursday and there’s a lot riding on the report. A reading above a projected 7.2% annual advance in prices may pressure the Fed to raise interest rates at a faster clip than expected. On Wednesday, equities climbed for a second day. Here’s your markets wrap.

China Evergrande Group’s chief executive sold bonds with a face value of $128 million in the early months of the developer’s massive debt crisis, paring his exposure before the company’s historic $300 billion default.

A decade ago, National Football League leaders said legal gambling would create a corrosive atmosphere for the American game. Every penalty or dropped pass would “inevitably fuel speculation, distrust and accusations of game-fixing,” Commissioner Roger Goodell said at the time. Today, 100 million Americans can legally bet on sports, and the NFL has embraced betting apps as a way to mint money. With the Super Bowl this weekend, what could go wrong?

Prosecutors call them the Bonnie and Clyde of the crypto era. She billed herself as “The Crocodile of Wall Street.” He assumed a tamer persona: “tech entrepreneur” and “occasional magician.” Together, they allegedly enriched themselves from a $4.5 billion cache of Bitcoin. But now Heather Morgan and Ilya Lichtenstein have traded in their blingy world for a federal courtroom.

Top Russian military officials flew to Belarus Wednesday for joint exercises that Western nations claim could provide cover for an invasion of neighboring Ukraine. Russia has positioned around 130,000 troops near Ukraine’s border, NATO says. Moscow says it has no plans to invade. Meanwhile, the European Union said it will respond to Russian demands with a unified letter drafted in coordination with NATO. Here’s the latest on the crisis.

Almost one-quarter of U.S. employers lifted compensation or gave bonuses during the pandemic, highlighting the lengths companies went to keep or attract workers. Another key finding in the data: work from home is here to stay.

The Federal Reserve Bank of Boston announced that Susan Collins, an economist currently at the University of Michigan, will be its new president, marking the first time a Black woman will lead one of the U.S. central bank’s 12 districts.

At the start of the month, when Productboard announced its latest round of funding, the California software company officially became a unicorn—worth $1.7 billion. That milestone was notable for another reason.

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