Moderna Warns on Variants; Firms Leave Hong Kong: Virus Update

Chances are one in five that new Covid-19 variants will arise that are more dangerous than the current versions, Moderna Inc.’s chief executive officer said in an interview with Bloomberg Television. Meanwhile, nearly half of the European companies in Hong Kong plan to fully or partially relocate operations and staff out of the city amid the travel and quarantine restrictions, a new survey suggests. After conquering Covid-19 for almost two years with a zero-tolerance approach, China is now in the midst of its worst wave since the initial outbreak in Wuhan. Shanghai reported a daily record of 1,609 cases, according to state television.