Tulsi Gabbard’s Biggest Donor | Chinese Stock Crash | Inflation's Salary Question

Plus: How Much Money Are At-Home COVID-19 Tests Bringing In?

Good morning.

For the past five years, former Democrat Congresswoman Tulsi Gabbard’s most significant supporter has been an apologist for Russian President Vladimir Putin. We’re also covering Monday’s Chinese stock crash and why employers aren’t budgeting for inflation-linked pay rises. Finally, we’re checking how at-home Covid-19 test makers are faring in this rollercoaster market.

In The News Today

Russian businessman Andrey Muraviev has been charged with allegedly making illegal political contributions and conspiring to donate $1 million to influence the 2018 U.S. elections.

Three European leaders are visiting Ukraine in a show of support for President Volodymyr Zelensky as Russian strikes continue to target Kyiv. Follow our live blog for the latest news about Russia’s invasion of Ukraine and its repercussions. 

Top Take-Aways

Fringe presidential contender Tulsi Gabbard’s largest individual donor is Sharon Tennison, founder of a nonprofit that aims to foster cooperation between the U.S. and Russia, who has repeatedly championed Russia’s leader.

The Ancient Greek word “oligarch” came to be associated with Russian individuals who built their fortunes after the fall of the Soviet Union. These days, it denotes certain super-wealthy Russians who vary in their closeness to Putin, but all rely on his patronage.

Shares of some of China’s largest businesses trading in the U.S. plunged Monday due to growing concerns over the country’s ties to Russia and potential delistings, adding to Chinese tycoons’ headaches stemming from Beijing’s regulatory crackdown in the past year. 

SoftBank’s Opportunity Fund, launched following the killing of George Floyd with a $100 million budget to back underrepresented founders, will now take an evergreen approach with no limit on the amount of capital it will deploy—a model similar to the investment giant’s Vision Fund.

A recent survey found that workers want a pay rise or other actions to cope with four-decade-high inflation, but few employers are budgeting for salary increases, focusing instead on other measures to attract and retain talent.

While a number of employers may be dragging workers back to the office full time, hybrid workplace arrangements are by far the most popular option, according to a new Gallup survey, favored even over fully remote work. 

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