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July 26, 2018

Ford creates new self-drive company, Lotte still sweet for jailed director, and family dynasties uneasy over Trump trade

Ford creates new self-drive company

Ford is to morph its self-driving vehicles arm into its own company, Ford Autonomous Vehicles LLC, investing $4 billion into the venture over the next five years.

It follows a similar move by General Motors, which launched “GM Cruise” late last year. Sherif Marakby, Ford’s vice president autonomous vehicles and electrification, will be chief executive of the new LLC, which is structured to allow third party investors.

June 13, 2018

Toyota has made a billion-dollar investment into the ride-sharing service Grab, in line with chief executive Akio Toyoda’s belief that car-makers need to expand into other areas to survive.

Toyota has made a billion-dollar investment into the ride-sharing service Grab, in line with chief executive Akio Toyoda’s belief that car-makers need to expand into other areas to survive.

It is the biggest investment by a car-maker into ride sharing so far, as the companies invest in various technology firms as a way of coping with the rise of autonomous vehicles and the sharing economy.

September 1, 2017

Jailing of Samsung heir a message to chaebol, Ford self-drive cars to deliver pizza, and Father-son team launch new bank.

Jailing of Samsung heir a message to chaebol

The jailing of Samsung chief Lee Jae-yong for five years has fuelled public conversation in South Korea about the huge family-owned businesses which dominate the economy.

Samsung heir Lee Jae-yong was sentenced on corruption charges this week following a case dubbed “the trial of the century”, due to the message it sent the country’s massive conglomerates.

May 2, 2014

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

On Thursday, the US carmaker announced Alan Mulally, 68, who steered the company through the global financial downturn, would be stepping down as chief executive and president on 1 July.

Mark Fields, 53, who has been the company’s chief operating officer since December 2012, will replace him.

July 29, 2013

LVMH and Kering’s luxury brands perform strongly, sunglass retailer Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH and Kering’s luxury brands perform strongly, sunglasses empire Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH

Bernard Arnault’s LVMH has announced half year revenues of €13.7 billion, with organic revenue growth up 8% compared to the same period last year.

The group said it continues to experience strong momentum in Asia and the US, and continued to grow in Europe despite economic uncertainty.

June 26, 2013

Family business should not be confused with small business in the US

Size matters in the US, which is home to some of the world’s biggest family businesses. The country’s five largest family-controlled firms – Walmart, Ford, Cargill, Koch Industries and Comcast – had combined revenues of $911.9 billion (€694.8 billion) in 2012, more than Indonesia’s GDP.

May 10, 2013

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares. 

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares.

At the company’s 58th annual meeting, 33.4% of shareholders, the highest tally ever, backed the proposal to end the class of shares that allows the family to control Ford Motor. Last year 29.5% voted against the company’s dual-share structure.

April 26, 2013

Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.

Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.

PPR/ Kering
In Paris, luxury and lifestyle group Kering said revenues rose €2.4 billion, up 3.1% on a comparable basis to the first quarter of 2012.

Turnover from its sport and lifestyle division fell 2.5%, mainly due to slow sales at Puma, but revenues at Kering's luxury division grew 6.4%, with growth in all geographic regions.

March 1, 2013

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp.

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp. Meanwhile, the Piech family has gifted Volkswagen employees some of its voting rights.

Ford
Bill Ford, fourth-gen executive chairman of the eponymous carmaker, has transferred some of his class B voting stock into trusts set up for his children for estate and planning purposes.

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