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May 8, 2020

ArcelorMittal upbeat about steel recovery despite $1.1 billion coronavirus loss, Escarrer family has Melia Hotels audited for Covid-19 health and safety, H&M clothing sales plummet 57% in two months as lockdowns bite.

ArcelorMittal upbeat about steel recovery despite $1.1 billion coronavirus loss

Family-owned steel giant ArcelorMittal has suspended its dividend after a net $1.1 billion loss in the first coronavirus-stricken quarter of 2020, but its family principal says steel demand is beginning to rally as lockdowns ease.

April 30, 2020

Bosch launches rapid Covid-19 test and prepares for global recession, Deichmann manages reputational risk over coronavirus rents, sales-hit Volkswagen reviews all projects as car production resumes.

Bosch launches rapid Covid-19 test and prepares for global recession

Bosch, the family-owned multinational engineering and technology giant, has developed and distributed a test for Covid-19 that delivers results after two and a half hours and is finalising a test that gives a verdict in less than 45 minutes.

March 9, 2020

Founder’s great-grandson takes chair as Lego builds in China, billionaire “hotpot queen” chooses Singapore for her new family office and next-gen James Murdoch joins the fight against fake news.

Founder’s great-grandson takes chair as Lego builds in China

Thomas Kirk Kristiansen (pictured), a fourth generation member of Lego’s founding family, has taken over the role of chairman as the Danish toy giant announces record sales.

February 19, 2020

Walmart is disappointed with festive consumer spending and Asda but online sales up 35%, JCB cuts UK production as the coronavirus hits Chinese suppliers, and fifth-generation US newspaper dynasty McClatchy Co files for bankruptcy.

Walmart disappointed with festive consumer spending and Asda but online sales up 35%.

Walmart, the world’s biggest family business with $524 billion in revenue and an economic bellwether, says holiday sales were weaker than anticipated despite online sales jumping 35% in the fiscal year.

November 22, 2019

Melia, Inditex and Damm families lead Spain’s digital revolution, family businesses H&M Group and IKEA unite to study recycled textiles, and Hays family creates 1,500 new careers in the UK’s travel industry.

Melia, Inditex and Damm families lead Spain’s digital revolution

Spanish family businesses Melia Hotels International, Inditex and Damm have been named among the top 10 companies leading the digital transformation of the Spanish economy.

Research by the Coordenadas Institute of Governance and Applied Economics hailed the families and public peers, such as Telefonica and Seat, for adapting their business models through digitalisation. Their motivation was to enhance their competitiveness and position themselves as international benchmarks.

March 1, 2019

The Danish family-owned toy giant Lego Group will build on its return to growth after a two-year slump by accelerating expansion in China, India and the Middle East.

The Danish family-owned toy giant Lego Group will build on its return to growth after a two-year slump by accelerating expansion in China, India and the Middle East.

August 25, 2017

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

The agreement follows an announcement late last year by Maersk that it would split its operations into two entities, one focussed on energy (Maersk Oil), the other on container shipping, ports and logistics (Maersk Line).

July 27, 2017

Demand for meat drives Cargill profits, Armani reorganises as sales slip, and BMW to make e-Mini in UK

Demand for meat drives Cargill profits

Cargill, the US’s biggest private company, has made its largest profit in six years thanks to high consumer demand for meat.

The company’s protein business was the biggest contributor to its $3.04 billion adjusted earnings for the year ending 31 May, up 85% from $1.64 billion in the previous financial year. Net profit was $2.84 billion.

David MacLennan, chief executive, attributed the strong result to a two-year restructuring effort and favourable market.

April 17, 2012

Family-owned machinery giant JCB has reported its best ever annual results, while a number of family businesses in Europe and Asia have seen their revenues increase in the first months of 2012.

Family-owned machinery giant JCB has reported its best ever annual results, while a number of family businesses in Europe and Asia have seen their revenues increase in the first months of 2012.

JCB, the British construction equipment manufacturer controlled by the Bamford family, said on 17 April that revenues jumped 37% in 2011 to £2.75 billion (€3.34 billion), from £2 billion in 2010. This was the company’s strongest result in its 66-year history.

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