Putin's Disdain For Oligarchs' Woes | Trademark’s Pandemic Backlog | Business Travel's New Era

Plus: How HCA Healthcare’s ‘Conservative’ Covid Strategy Reaped Dividends

Good morning.

A number of factors contribute to deciding which Russian oligarchs will be hit by sanctions—but it’s unlikely they’ll receive much sympathy from President Vladimir Putin, Forbes was told. We’re also covering what’s causing a backlog at the U.S. trademark office, and how Covid-19 is forcing the business travel sector to find a new raison d’être. Finally, we’re looking at how HCA Healthcare emerged as a pandemic winner.

In The News Today

A pregnant woman who was pictured being carried away on a stretcher following the Russian strike on a hospital in Mariupol has now died, according to the Associated Press. Follow our live blog for the latest news about Russia’s invasion of Ukraine and its repercussions.

NFL quarterback Tom Brady said he changed his mind about retirement, and will be returning to the Tampa Bay Buccaneers to play in his twenty-third season in September. 

Top Take-Aways

When it comes to deciding which Russian oligarchs to sanction, government officials consider various political, economic and geostrategic factors. But experts Forbes spoke to doubt the plight of Russia’s wealthiest will do much to stop President Vladimir Putin’s war in Ukraine.

As the Moscow cracks down on American tech companies—blocking Meta’s platforms Facebook and Instagram, which will cost the company about $4.7 million a day—two major web-security companies have decided to quit selling to Russian entities, likely making citizens more vulnerable to Kremlin snooping, hacking and other cybercrimes.

Social media platforms like TikTok are giving Ukrainians sheltering from the Russian army an opportunity to broadcast their experiences to audiences around the world, sharing intimate firsthand accounts.

The pandemic-related e-commerce boom has caused a backlog at the U.S. trademark office as retailers send applications for often unpronounceable names like QPNGRP, BULAXXOOO and HWYDTGS.

When KPS bought TaylorMade in 2017 for $380 million, the golf company was losing $80 million a year. Last year, when the firm sold TaylorMade for $1.7 billion, the company’s annual profit was nearly $200 million—propelled by star power, supply chain savvy and a pandemic golfing boom.

Few sectors have been more radically altered by the Covid-19 pandemic than business travel. Zoom meetings have fundamentally altered how and why people hit the road for work. Buzzwords like “bleisure” and “return to base” mark the new normal.

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Rihanna is reportedly working with Morgan Stanley and Goldman Sachs on an initial public offering of her lingerie brand, Savage X Fenty. The IPO, which could happen as early as this year, could value Rihanna’s body-inclusive company at more than $3 billion.

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