UBS Plans $4.5 Billion Share Buyback

The Swiss bank said it has set aside more capital in the fourth quarter to buyback shares following a 54% surge in 2020 net profit.

 
Amazon Set to Hire 3,000 Corporate Employees in Boston

Amazon.com is planning to add 3,000 employees in its corporate ranks in the Boston area, one of a number of expansions of technology jobs in major American cities for the company.

 
Novartis Bottom-Line Undershoots Forecasts

Novartis posted core operating income for the fourth quarter of $3.5 billion on a rise in sales, but net profit fell short of consensus estimates, with coronavirus-related lockdowns hurting some of its therapeutic areas and its Sandoz unit.

 
Rolls-Royce Warns of Bigger Cash Outflow in 2021

Rolls-Royce said it expects a free cash outflow of around GBP2 billion this year based on expectations of widebody engine flying hours at around 55% of 2019 and warned that more contagious coronavirus variants have created further uncertainty.

 
Kimmeridge Energy to Launch Proxy Fight at Ovintiv

The investment firm plans to launch a proxy fight at the oil-and-gas producer, and will nominate three directors-including Kimmeridge founder Ben Dell-to the company.

 
Apollo CEO Leon Black to Step Down Following Probe of Epstein Ties

Leon Black will leave the top job at Apollo Global Management by late July, following a review that found larger-than-expected payments to Jeffrey Epstein but no evidence of involvement in his criminal activities.

 
Vimeo Raises $300 Million in Equity, Valuing Company at $5 Billion

Vimeo has completed a $300 million fundraising round one month after IAC said it planned to spin off the online-video platform.

 
Kuaishou to Close IPO Order Books Early, Sources Say

Kuaishou Technology plans to stop taking orders from institutional investors for its roughly $5 billion initial public offering earlier than planned, after meeting strong demand, people familiar with the matter said.

 
Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management

Hedge fund Melvin Capital has been hit hard by a series of short bets to start the year, down nearly 30% for 2021 through Friday, people familiar with the firm said.

 
Moderna Developing Booster Shot Against South Africa Strain

Moderna said lab tests indicate its Covid-19 vaccine protects against emerging strains, but a weaker immune response has prompted it to work on a booster shot for a variant first identified in South Africa.

(END) Dow Jones Newswires

January 26, 2021 05:00 ET (10:00 GMT)

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