Allstate to Sell Life Insurance Unit to Blackstone for $2.8 Billion 

Purchase is the latest in a slew of deals between financial firms and life insurance businesses.

Goldman CEO David Solomon Takes $10 Million Pay Cut for 1MDB Scandal 

His 2020 pay was slashed by 36%, punishment for the bank's admission last year that it broke U.S. laws in its dealings with an investment fund.

Sheldon Adelson's Casino Empire Installs New Leadership 

Rob Goldstein, a deputy to the gambling magnate, was appointed chief executive. Patrick Dumont, Mr. Adelson's son-in-law, was named president.

Walgreens Poaches Starbucks Executive Rosalind Brewer for CEO 

The Starbucks operating chief will be the only Black woman leading a Fortune 500 company.

Microsoft Sales Surge to Record, With Help From Cloud and Videogames 

The software giant's profit and sales jumped, propelled by pandemic-fueled demand for videogaming and accelerated adoption of its cloud-computing services.

Starbucks Sales Slide But Show Signs of Recovery in China 

Starbucks also said Chief Operating Officer Roz Brewer will leave to lead another publicly traded company.

Trucker TFI International Aims to Boost Margins at UPS Freight 

TFI International plans to spend $50 million to $75 million to upgrade the UPS Freight fleet and renegotiate prices for the carrier's shipping customers.

GE Reports Surge in Year-End Cash Flow 

The boost in cash came from orders in its power and renewables divisions, along with improved financial efficiency.

Volkswagen Asks Supreme Court to Block Local Emissions Regulations 

The German auto giant is trying to overturn a lower-court ruling that could open the car industry to oversight from municipalities.

LVMH Gets Boost From Vuitton, Dior 

Surging revenue at the big fashion brands bolstered the luxury-goods company's results, offsetting other businesses such as Champagne.


(END) Dow Jones Newswires

January 26, 2021 23:15 ET (04:15 GMT)

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