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September 22, 2015

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

It faces an initial fine of $18 billion for the 11 million cars affected, equivalent to its net annual profits, but if further investigations find the rigging is more widespread this could rise.

The German carmaker posted revenues of €197 billion in 2013.

May 13, 2015

Right from the very dawn of the automobile in the 1800s, the name Maybach has been synonymous with quality engineering and high-end luxury. Now one scion is keeping that name alive in a unique fashion.

Throughout the history of the motorcar there is a select group of family names which have themselves become iconic automobile brands, Ford, Morgan, Daimler, Packard and Renault. But one name alone can claim to represent not only the earliest innovations and technical brilliance in the field, but also our contemporary view of the peak of luxuriousness and automotive splendour. That name is Maybach.

January 26, 2012

Last year was a tumultuous time for markets on the back of fears of a second recession, but some family businesses look to have weathered 2011 remarkably well, reporting record revenues and profits.

Last year was a tumultuous time for markets on the back of fears of a second recession, but some family businesses look to have weathered 2011 remarkably well, reporting record revenues and profits.

Take for example the Bosch Group, the German car parts supplier controlled by descendants of the founding family. Revenues at the Stuttgart-based family business exceeded €50 billion for the very first time last year, according to preliminary figures released by the company this week.

August 30, 2011

The luxury sector continues to be highly profitable for the family businesses operating within it with the latest results from top shoemaker Salvatore Ferragamo confirming the boom.

The luxury sector continues to be highly profitable for the family businesses operating within it with the latest results from top shoemaker Salvatore Ferragamo confirming the boom.

February 8, 2011

Chief executive of carmakers Fiat and Chrysler, Sergio Marchionne, is facing wrath from Italy and the US for his comments on shifting Fiat’s headquarters, and describing the interest rates charged on American bailout loans as “shyster”.

Chief executive of carmakers Fiat and Chrysler, Sergio Marchionne, is facing wrath from Italy and the US for his comments on shifting Fiat's headquarters, and describing the interest rates charged on American bailout loans as "shyster".

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