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.

 
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 small-package-delivery business.

 
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 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.

 
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)