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)