U.S. troops on the move

With diplomacy (at least publicly) at an impasse and about 120,000 Russian military personnel still looming on Ukraine’s borders, President Joe Biden moved to increase allied forces in some NATO member states, adding 3,000 more U.S. soldiers from bases in the region and America. As it stands, Vladimir Putin’s gambit is getting more complicated for the Kremlin, which nevertheless sent bombers in the direction of the U.K. on Wednesday. If Putin does invade his neighbor again, the price of staying there may be high. Here’s the latest on the crisis. —David E. Rovella

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

The Biden administration and European allies are scouring the world for surplus natural gas to send to Europe in the event Russia cuts off supplies. They’re even approaching Russian ally China.

Almost 4,000 Americans died on Tuesday as a result of Covid-19, one of the biggest daily totals of the entire pandemic. The U.S. has long led the world in confirmed infections and fatalities tied to the virus, and has one of the lowest vaccination rates among developed nations, a fact that’s been tied in part to the politicization of precautions and vaccination. In Europe, officials are accelerating steps to roll back Covid-19 curbs, but more data from South Africa is showing a new wave of infection may be coming, thanks to the more transmissible omicron subvariant. Here’s the latest on the pandemic.

Ten million dollars, $15 million, $25 million, more: Big money is back on Wall Street. Not since the late 2000s when lavish bonuses rained down both before and after federal bailouts have pay packages at U.S. investment banks swelled as much as they have right now.

A Massachusetts-based startup that captures carbon dioxide directly from the air has raised $80 million from investors, including Bill Gates-led Breakthrough Energy Ventures. While Verdox Inc.’s technology is still only operable at lab scale, Chief Executive Officer Brian Baynes says a recent advance has investors throwing down serious cash.

Some Republicans in Congress are opposed to two Black women President Joe Biden wants at the Federal Reserve and the U.S. Supreme Court, a potential first in both cases. The former, Lisa Cook, has a Ph.D. in economics and experience working at the Treasury Department and the White House’s Council of Economic Advisers. The latter hasn’t even been named yet.

PayPal said it closed 4.5 million accounts and lowered its forecast for new customers after finding “bad actors” were taking advantage of its incentives and rewards programs. Shares of the company fell by the most on record.

Facebook parent Meta said user growth stalled in the fourth quarter and gave a disappointing forecast for the current period, raising concern about the company’s future. Shares of Mark Zuckerberg’s social media giant plunged as much as 24% in late trading.

After a month of controversy involving allegations of Covid-19 misinformation from its star podcaster and a growing list of big-name musicians dropping the company as a result, Spotify has another problem: its growth. The numbers it just revealed sent shares down 23%—erasing much of Spotify’s gains in the past two years.

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