News Highlights: Top Company News of the Day
January 25 2021 - 8:30PM
Dow Jones News
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.
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.
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.
(END) Dow Jones Newswires
January 25, 2021 21:15 ET (02:15 GMT)
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