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Family-owned German engineering company Schaeffler is looking to takeover Continental, the world's fourth-largest tyre maker.

It has been reported that Germany’s Herz family is to provide financial backing for GfK, Germany’s biggest market-research company, in a possible bid for UK rival Taylor Nelson Sofres Plc.

Levi Strauss & Co, the family-owned jeans retailer, has recorded second-quarter profits of $1 million – down 98% from 2007. Net income dropped to $936 million from $1 billion a year earlier.

In response to a move by acquisitive InBev to remove Anheuser’s board of directors, Anheuser-Busch has struck back, urging its shareholders to block the move.

Drinks giant InBev has issued a response following fellow family-owned Anheuser-Busch’s rejection of it’s $65 per share takeover bid.

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