Sky investors vote against James Murdoch’s reappointment
James Murdoch, the younger son of billionaire Rupert Murdoch, has suffered a shareholder backlash at Sky after more than half of the UK media company's independent shareholders voted against his reappointment as chairman.
While Murdoch’s leadership was contested, around 71% of the company’s shareholders voted for that the next-gen remain a director. The annual meeting raises questions about the company’s governance structure.
Murdoch chose to stand down as chairman of Sky in 2012 in the wake of the phone-hacking scandal at News International, where he had held the role of chairman.
Third-gen James Murdoch, the youngest of Rupert Murdoch’s children by his second wife Anna, is now seen as a natural successor to his father, Australia-born American billionaire Rupert Murdoch.
Sky posted revenues of £5.6 billion ($6.8 billion) in 2015.
América Móvil to invest $600m in Dominican Republic
Mexican telecommunications corporation América Móvil, owned by billionaire Carlos Slim, has announced it will invest $600 million in the Dominican Republic over the next three years.
América Móvil chief executive Daniel Hajj told local daily Listin Diario that the $600 million will be invested in its Dominican Republic unit, Claro Dominicana, which is the largest telecommunication company in the country.
"The Dominican Republic is currently the fastest growing country, and we will continue investing," Hajj said, adding that the company would also invest $200 million a year in the roll out of broadband and LTE networks.
América Móvil was founded in 2000 and is the fourth largest mobile network operator in the world. The firm had revenues of $59.3 billion in 2012.
BMW and Toyota invest in data gathering company
Family-owned carmakers BMW and Toyota will license technology from driver data gathering firm Nauto, which uses artificial intelligence and technology to understand driver behaviour.
Nauto chief executive Stefan Heck told Reuters the carmakers would utilise the technology in their test vehicles to aggregate data for autonomous vehicles.
The system can detect drinking, texting, and will advise drivers to avoid certain behaviours. The data can then be fed back to insurers.
Toyota, owned by the Toyoda family, reported revenues of 28.4 trillion yen ($274 billion) in 2016, while BMW had revenues of €76.8 billion in 2013