Shortly after Russia invaded Ukraine, Nokia said it had paused deliveries to the country but it has now moved to completely exit Russia, echoing a similar move by Nordic rival Ericsson AB.


Vaccine Makers Pfizer, Moderna Hire New CFOs

Vaccine makers Pfizer Inc. and Moderna Inc. named company outsiders as chief financial officers as they look to deploy some of the cash they have generated during the Covid-19 pandemic.

New York-based Pfizer on Monday said David Denton will take over as CFO on May 2. Mr. Denton has served as finance chief of home-goods retailer Lowe's Cos. since 2018. Before that, he led the finances of CVS Health Corp., the Woonsocket, R.I.-based drugstore and health-services chain.


Crypto.com Hires Financial Crimes Expert From Western Union

Crypto.com has hired a former Washington regulator and federal prosecutor to oversee its efforts to ensure the fast-growing online cryptocurrency platform isn't used for crimes such as terrorism financing and fraud.

Duncan DeVille will serve as the Singapore-based company's executive vice president for compliance in the Americas region and as its global head of financial crimes compliance, Crypto.com said Monday. He will report to the company's chief compliance officer, Antonio Alvarez.


Inflation Seen Nearing New Four-Decade High in March

U.S. inflation is estimated to have surpassed an 8% annual rate last month, driven by strong consumer demand, supply-chain disruptions and skyrocketing energy costs related to Russia's invasion of Ukraine.

The Labor Department on Tuesday is expected to report that the consumer-price index rose 8.4% in March from the same month a year ago, accelerating from a 7.9% annual rate in February, according to economists surveyed by The Wall Street Journal. The CPI measures what consumers pay for goods and services. The figures are set to be released at 8:30 a.m. ET.


U.S. Banks' Pandemic Hot Streak Is Coming to an End

What goes up must come down. That is likely to be the story of banks' first-quarter earnings.

A sense of normalcy has returned to Wall Street. Offices have once again filled up after two years of working from home. Bonanza profits driven by a white-hot market for deals are returning to earth.


Fed's Brainard to Take Questions on Inflation, Job Market, Interest Rates

Federal Reserve governor Lael Brainard is set to take questions Tuesday on the U.S. economic outlook and its implications for the labor market, inflation and central-bank policies.

Ms. Brainard, who is awaiting Senate confirmation to serve as the Fed's vice chairwoman, is scheduled to speak in a 35-minute interview beginning at 12:10 p.m. Eastern time as part of The Wall Street Journal Jobs Summit. The appearance comes as the central bank is raising interest rates as part of their most aggressive effort in decades to curb price pressures.


Russia Unleashes New Attacks Overnight on Ukraine's Eastern Region

Russian forces fired on Ukrainian positions and residential areas in the country's east overnight and unleashed new rocket attacks, while fortifying positions there with new deployments of air-defense systems, Ukrainian officials said Tuesday.

Ukrainian authorities are still investigating allegations by Ukrainian forces that they came under a Russian chemical attack in Mariupol, where Russia is still fighting to consolidate gains in the city, which Moscow sees as crucial to its efforts in taking over eastern Ukraine and pushing westward.


German Economic Expectations Post Second Drop Since Start of the Ukraine War

Economic expectations in Germany fell again April, as experts are pessimistic about the current economic situation and assume that it will continue to deteriorate, the ZEW economic research institute said Tuesday.

The index of economic expectations declined to minus 41.0 in April from 39.3 in March, above the minus 50.0 forecast by economists in a poll by The Wall Street Journal.


Germany's Inflation Hits Highest Point in More Than 40 Years

Germany's annual rate of inflation rose in March at a faster pace than in February, posting the highest reading since the autumn of 1981, according to final data released by German statistics office Destatis on Tuesday.

Consumer prices rose 7.3% on year measured by national standards, in line with the forecasts of The Wall Street Journal. They rose 7.6% on year by European Union-harmonized standards, also in line with forecasts.


Glynn's Take: Surge in Australian Business, Labor Costs Has Forced RBA From Comfort Zone

SYDNEY--A huge jump in business and labor costs in March explains why the Reserve Bank of Australia surprised some a week ago by suddenly opening the door to an interest rate rise in June, its first since 2010.

The RBA's shift in guidance at its April 5 policy meeting happened well ahead of the release of key first-quarter inflation and wage growth data due out over the next seven weeks, data sets that the central bank's interest-rate setting board were expected to review before indicating any move toward raising interest rates.


Fed's Evans Says Good Possibility of 50 Basis Point Rate Rise in May

Federal Reserve Bank of Chicago President Charles Evans said Monday an aggressive interest rate increase is a possibility at the U.S. central bank's policy gathering in early May.

A 50 basis point rate rise at the May 3 and 4 Federal Open Market Committee meeting "is obviously worthy of consideration, perhaps it's highly likely," he said, as the Federal Reserve lifts its still very low federal-funds rate toward a neutral setting of between 2.25% and 2.50% by the end of the year.


Russia Unleashes New Attacks Overnight on Ukraine's Eastern Region

Russian forces fired on Ukrainian positions and residential areas in the country's east overnight and unleashed new rocket attacks, while fortifying positions there with new deployments of air-defense systems, Ukrainian officials said Tuesday.

Ukrainian authorities are still investigating allegations by Ukrainian forces that they came under a Russian chemical attack in Mariupol, where Russia is still fighting to consolidate gains in the city, which Moscow sees as crucial to its efforts in taking over eastern Ukraine and pushing westward.


EPA Will Allow More Ethanol in Gas This Summer in Bid to Tame Prices

WASHINGTON-The Biden administration plans to temporarily allow high-ethanol content gasoline to be sold in the hot summer months in a bid to tame high fuel prices at the pump, according to senior administration officials.

The decision will allow gasoline with 15% ethanol to be sold between June 1 and Sept. 15. Normally only a 10% ethanol blend can be sold during that time period to reduce smog caused by the 15% blend's higher volatility.


U.S. Orders Departure of Consulate Staff and Family From Shanghai Due to Covid-19 Surge

SINGAPORE-The U.S. State Department ordered the departure of all nonemergency U.S. Consulate staff and their families from Shanghai as the city's health authorities announced more than 23,000 new daily infections.

The "ordered departure," which came just days after the State Department had given the green light for employees to leave voluntarily, "means that we are now mandating that certain employees depart Shanghai rather than making this decision voluntary," a U.S. Embassy spokesman said in a statement Tuesday.


Russian General Who Led Forces Into Syria Tapped to Lead Ukraine Invasion

Russian Army Gen. Aleksandr Dvornikov, the man chosen to lead the next phase of Moscow's war in Ukraine, wrote in a military newspaper in 2018 that in modern warfare, "the main task is not the physical destruction of the enemy, but the complete subordination of him to one's will."

An architect of Russia's military intervention in Syria, where Russian airstrikes hit civilian targets including hospitals, Gen. Dvornikov has since the start of the invasion in February led the troops that have pushed northward from Crimea and captured a swath of territory in southern Ukraine.


White House Expected to Name New Commander to Lead Allied Forces in Europe

WASHINGTON-A top American Army general in Europe is expected to be elevated to lead all U.S. and allied forces on the continent, U.S. officials said, marking the biggest change to NATO military leadership since Russia invaded Ukraine in February.

The Pentagon is also set to name a new general to lead Special Operation forces, the officials said. Both would replace commanders who are expected to retire this year as part of a normal rotation of commanders.


Write to sarka.halas@wsj.com

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OrganiGram Hldgs Inc (OGI.T) 2Q

Stocks to Watch:

Shopify Proposes Stock Split, Changes to Share Structure

Shopify Inc. is asking investors to approve changes to its complex share structure to protect the voting power of the Canadian technology company's leader. The company also is proposing a 10-for-1 stock split.

The e-commerce company's shares, which surged above $1,600 last year during the pandemic, have fallen about 55% so far this year. They closed Friday at $603.18 on the New York Stock Exchange, giving the company a $76 billion market valuation. Shares rose less than 2% in premarket trading Monday.

Under the proposal, co-founder and Chief Executive Officer Tobi Lütke will receive a new "founder share" that, combined with his existing supervoting Class B shares, will increase his voting power to 40% from 34%. Mr. Lütke, who is 41 years old, will keep the founder share as long as he remains at Shopify as an executive, a board member or a consultant.

Market Talk:

Canadian Dollar May Not Immediately Benefit From Expected Rate Rise

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04-12-22 0617ET