Ukraine’s Delivery Heroes | Interest Rates On The Rise | Sweden’s Private Equity Phenomenon

Plus: Razzlekhan: The Untold Story Of How A YouTube Rapper Became A Suspect In A $4 Billion Bitcoin Fraud

Good morning.

Delivering food to civilians under attack from Russian forces in Ukraine is not for the faint of heart—but thousands of drivers are taking on the task every day. We’re also looking at the Federal Reserve’s first interest rate hike in three years—but certainly not the last—and at the Swedish private equity firm that has minted almost as many billionaires as Google. Finally, don’t miss this deep dive into how a wannabe entrepreneur with a penchant for rapping and her husband became suspects in a huge bitcoin money laundering operation.

In The News Today

Ukrainian President Volodomyr Zelensky called for more sanctions against Russia in a speech to the German parliament. Follow our live blog for the latest news about Russia’s invasion of Ukraine and its repercussions. 

The number of Covid-19 cases, hospitalizations and deaths are approaching or passing record highs across Europe, and experts warn that the U.S. will likely be next.

Top Take-Aways

MHP, the sixth-largest poultry exporter in the world and said to be the biggest food company still operating in Ukraine, counts on thousands of brave drivers to deliver 330 tons of chicken every day to thousands of civilians in Ukrainians cities under attack by Russian forces.

Authorities in the British crown dependency of the Isle of Man deregistered two yachts belonging to sanctioned Russian billionaire Andrey Melnichenko, a move that will make it more difficult for the vessels—one of which was frozen by Italian authorities—to sail legally.

The Federal Reserve announced a 0.25% interest rate hike, the first since 2018, as it looks to address surging inflation. It’s also forecasting six additional hikes this year, more than what was expected.

Fast growing Swedish private equity firm EQT made a splash with a $7.5 billion deal to acquire one of Asia’s largest private equity firms. And with the stock popping on the news, the Stockholm-based business now has seven billionaires, according to Forbes.

After three funding rounds in its first three years in business, bill-paying startup Doxo found its momentum stalled and investor enthusiasm waning. This week, the Seattle-based company announced its first new round in more than a decade.

More than two years after shutting its borders at the start of the Covid-19 pandemic, New Zealand is cautiously reopening its doors to foreign visitors—starting with fully vaccinated tourists from a limited number of countries.

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Affirm CEO Max Levchin is trying to defend against Wall Street’s skepticism of the 10-year-old fintech business. As a sector, fintech stocks have sunk 50% from their peak in November. Affirm hit an all-time high of $47 billion valuation that month, but it has since dropped more than 80% to about $9 billion.

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