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News Corporation chairman and CEO Rupert Murdoch is stepping up his involvement in The Wall Street Journal, the newspaper he acquired last August from the Bancroft family as part of Dow Jones & Co.

Less than a week after he was indicted for tax evasion, Lee Kun-hee has fallen on his sword after 20 years at the top.

Family-owned Pentland Group has received The Queen’s Award for Enterprise in the International Trade category for 2008.

In a bid to attract institutional investors and boost its flagging stock price, cosmetics company Revlon has approved a reverse split of the company’s Class A and Class B common stock at a 1:10 split ratio.

Startup budget airline Oasis Hong Kong, the business launched by Hong Kong family business owner Raymond Lee and his wife, has folded.

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