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Family Business

May 23, 2017

Ford Motor Company has replaced chief executive Mark Fields, following poor sales and a 40% drop in the company’s share price during his three-year tenure.

Ford Motor Company has replaced chief executive Mark Fields, following poor sales and a 40% drop in the company’s share price during his three-year tenure.

Fields has been succeeded by Jim Hackett, a 62-year-old who has headed Ford’s Smart Mobility LLC since March 2016.

Fields’ 28-year career with Ford ended on Monday, as the car company announced a series of leadership changes, part of a wider move to cut 1,400 jobs, about 10% of staff.

May 18, 2017

A startling 49% of business owners have not made a will, and 22% say they have not started any form of wealth transfer planning.

A startling 49% of business owners have not made a will, and 22% say they have not started any form of wealth transfer planning, new research suggests.

The report, Business owners & wealth transfer: Applying the lessons learned in business to wealth transfer, surveyed 384 business owners in Canada, the United States, and the United Kingdom, each worth an average of $6.4 million.

May 17, 2017

ArcelorMittal doubles earnings after cost-cutting drive; Bombardier’s Beaudoin leaves chairman post amid revolt but stays on board; India’s Ramco Group second-gen chairman dies.

ArcelorMittal doubles earnings after cost-cutting drive

The chief executive of steel and mining giant ArcelorMittal says he is “satisfied” following a first quarter result which saw sales up 20% year-on-year.

Sales in the quarter ending 31 March were $16.1 billion, up from $13.4 billion for the same period last year. Net income sat at $1 billion, compared to last year’s first quarter loss of $416 million.

May 16, 2017

Family offices are private firms of various structures, sizes and responsibilities which manage the wealth, investments, trusts and just about every aspect of one or more family businesses with net turnovers of more than $100 million a year.

Family offices are private firms of various structures, sizes and responsibilities which manage the wealth, investments, trusts and just about every aspect of one or more family businesses with net turnovers of more than $100 million a year. Richard Steele, senior conference producer at Campden Wealth, gives a beginner’s guide to a rapidly growing sector in the financial world.

May 16, 2017

Marilyn Monroe, Audrey Hepburn and Greta Garbo are among the Hollywood stars who helped immortalise Italian shoemaker Salvatore Ferragamo. Michael Finnigan talks to grandson James about legacy, fashion and the family business

Marilyn Monroe, Audrey Hepburn and Greta Garbo are among the Hollywood stars who helped immortalise Italian shoemaker Salvatore Ferragamo. Michael Finnigan talks to grandson James about legacy, fashion and the family business

May 12, 2017

Family business specialists are calling on the British government not to reintroduce plans to cut tax breaks on dividends but some observers say the measures are likely to be brought back after the forthcoming general election.

Family business specialists are calling on the British government not to reintroduce plans to cut tax breaks on dividends but some observers say the measures are likely to be brought back after the forthcoming general election.

As part of a wider downsizing of an unusually lengthy piece of legislation, the British government put aside proposals in its 2017 Finance Bill to cut the dividend tax-free allowance from £5,000 to £2,000 ($6,468 to $2,587).

May 12, 2017

Brewing giant AB InBev profits up but struggles in Americas; Whither Fairfax Media as assets cherry picked; Third-gen takes ownership of billion dollar In-N-Out burger chain.

Mega-brewer AB InBev’s turbulent quarter

Brewer Anheuser-Busch InBev (AB InBev) has seen revenues and profits increase in the first quarter of 2017 despite a slight dip in beer sales.

The world’s largest brewer, which is headquartered in Belgium and has substantial family ownership, enjoyed a 3.7% increase in revenues to $12.9 billion despite total sales falling by 0.5% to 147.9 million hectolitres.

May 11, 2017

Ultra-wealthy family businesses dominate the new Sunday Times Rich List, with the combined wealth of family firms in the top ten totalling £58.7 billion ($75.9 billion).

Ultra-wealthy family businesses dominate the new Sunday Times Rich List, with the combined wealth of family firms in the top ten totalling £58.7 billion ($75.9 billion).

May 10, 2017

What does it take to start then grow a business into a successful, multi-billion dollar holding yet maintain total family control through the generations? Alison Ebbage reports

What does it take to start then grow a business into a successful, multi-billion dollar holding yet maintain total family control through the generations? Alison Ebbage reports

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