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October 28, 2016

Hero MotoCorp posts “best ever” quarterly sales; Gina Rinehart spends $400 million on fertiliser investment; and Kering shares hit 15-year high on Gucci success

Hero MotoCorp posts “best ever” quarterly sales

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, reported a 28% increase in net profit this week in what has been called its best-ever quarterly sales.

Pawan Munjal, chairman, managing director and chief executive of Hero MotoCorp, said the record-breaking sales were a reiteration of the “overwhelming” customer preference for the company's products.

October 21, 2016

A.G. Sulzberger appointed deputy publisher of New York Times, A.G. Sulzberger appointed deputy publisher of New York Times, and Vivendi lawsuit dialled up to 11

A.G. Sulzberger appointed deputy publisher of New York Times

Fifth-generation Arthur Gregg “A.G.” Sulzberger has been appointed deputy publisher of the New York Times, setting him up to one day succeed his father, Arthur Sulzberger Jr.

The 36-year-old next-generation executive takes on the role amid a difficult time for the publication: readers and advertisers are slowly shifting to online, while publishers are shifting their resources within the newsroom.

October 14, 2016

Sky investors vote against James Murdoch’s reappointment; América Móvil to invest $600m in Dominican Republic; and BMW and Toyota invest in data gathering company

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.

October 7, 2016

Mars buys out Buffett to take 100% control of Wrigley; LVMH next-gen Alexandre Arnault helps steer RIMOWA acquisition; and Toyota’s personal robot 'Kirobo Mini' signals AI push

Mars buys out Buffett to take 100% control of Wrigley

Mars is to take full control of its Wrigley chewing gum business after Berkshire Hathaway sold its minority stake back to the world’s largest confectionary maker.

According to Reuters, Berkshire invested in Wrigley in 2008 when it acquired $2.1 billion of preferred stock and $4.4 billion of bonds in connection with privately held Mars' $23 billion purchase of the chewing gum maker. 

September 29, 2016

AB InBev-SAB Miller deal approved by shareholders; Puig to buy stake in Brazil's Granado; and Toyota develops a new technology to improve agri production

AB InBev-SAB Miller deal approved by shareholders

Family-controlled brewer AB InBev won approval for its $100 billion-plus takeover of rival SABMiller, paving the way for the third-largest merger in corporate history.

Shareholders from both companies voted overwhelmingly in favour of the acquisition. The new combined company will posses an estimated 46% of global beer profits and 27% of global volume.

September 22, 2016

Transport giant Maersk to split its shipping, energy operations; Les Mills International moves headquarters to Chicago; and América Móvil eyes acquisition of Brazilian rival Oi

Transport giant Maersk to split its shipping, energy operations

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, is splitting its container shipping and energy operations into two independent entities as part of a historic shake-up.

Rocked by low shipping and oil prices, the Copenhagen-based group said the transport and logistics division will handle its shipping and container business, while the energy spin off will handle oil production and drilling.

September 7, 2016

Prosecutors to question Lotte Group founder; Hanjin chairman pledges $36 million to resolve shipping cargo crisis; and Comcast focus of anti-monopoly investigation after Dreamworks acquisition

Prosecutors to question Lotte Group founder

State prosecutors in South Korea will visit Lotte Group founder Shin Kyuk ho to assess his health condition and decide how best to question the 93-year-old on allegations of tax evasion.

The Lotte Group has been accused of running slush funds worth at least 56 billion won ($50 million) at Lotte Engineering and Construction and restricting business opportunities to the group’s affiliates, according to Korea Joongang Daily.

September 2, 2016

Samsung’s value drops $7 billion on battery fire reports; AB InBev and SABMiller deal to yield $2 billion in fees and taxes; and Faber-Castell teams up with Karl Lagerfeld on art equipment

Samsung’s value drops $7 billion on battery fire reports

South Korea's largest family-owned conglomerate Samsung has seen its stock plunge by $7 billion this week amid reports that batteries in its new flagship device have exploded.

The Suwon-headquartered group has in turn issued an unprecedented recall of all of its newest Galaxy Note 7 smartphones.

The recall comes just one week ahead of an expected presentation of a new iPhone model from its main rival Apple.

August 26, 2016

Lawyers Say Bosch colluded on Volkswagen emission scandal; Nintendo strengthens supply chain with Jesnet acquisition; and Maersk to cut fleet and crew

Lawyers Say Bosch colluded on Volkswagen emission scandal

German family business Bosch, one of Europe’s largest companies by revenues, has been accused of colluding with Volkswagen over the emissions cheating scandal in amended court filings.

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