News Highlights: Top Company News of the Day
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
GameStop Stock Surges to Record
Shares of the once-moribund mall retailer reached new highs in
what has become a gladiator match between Reddit-driven day traders
and Wall Street shorts.
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 Strain First Identified in South Africa
Moderna said its Covid-19 vaccine appeared to protect against
emerging strains in lab tests, but due to a weaker immune response,
the company will develop a booster shot targeting the variant first
identified in South Africa.
UPS to Sell Freight Trucking Business for $800 Million
United Parcel Service has agreed to sell its freight business to
rival TFI International, saying it plans to focus on the soaring
Merck Scraps Covid Vaccine Candidates
Merck is halting development of its two experimental Covid-19
vaccines, after early clinical-trial data showed the shots
generated disappointing immune responses against the virus.
Google Pursues Plan to Remove Third-Party Cookies
The Alphabet unit is pushing forward with its plan to remove a
widely used tracking technology from its Chrome web browser,
despite complaints from rivals that rely on it to target ads at
Kimberly-Clark Stock Gains on Earnings, Dividend Increase
The results highlight how consumers are still flocking to
trusted brands during the Covid-19 pandemic.
NBCUniversal's Peacock to Become WWE's Exclusive Streaming Home
World Wrestling Entertainment content will move to Peacock
starting March 18 in a deal worth more than $1 billion.
Diamond Offshore Strikes Restructuring-Plan Agreement
The restructuring plan would cut more than $2.1 billion of the
contract driller's debt.
(END) Dow Jones Newswires
January 25, 2021 19:00 ET (00:00 GMT)
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