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.

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.

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 small-package-delivery business.

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.

Bankruptcy Judge Approves $17 Million Fund for Harvey Weinstein Victims 

Women who have accused Harvey Weinstein of sexual misconduct are expected to receive hundreds of thousands of dollars or more on average under the chapter 11 settlement.

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

The round was led by funds and accounts advised by T. Rowe Price Associates Inc. and financial-services firm Oberndorf Enterprises LLC. The new capital will be used to fuel its growth, innovation and talent, Vimeo parent IAC/InterActiveCorp said Monday.

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.

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 individuals.

Kimberly-Clark Stock Gains on Earnings, Dividend Increase 

The results highlight how consumers are still flocking to trusted brands during the Covid-19 pandemic.

Business Insider Did Nothing When the Pandemic Hit. It Worked. 

The business-news publisher generated 30% revenue growth in 2020 despite the Covid-19 crisis, largely thanks to subscriptions and automated ads.


(END) Dow Jones Newswires

January 25, 2021 23:15 ET (04:15 GMT)

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