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February 28, 2017

Second-gen Lee Jae-yong, the vice chairman and heir apparent of electronics conglomerate Samsung, is to be indicted on multiple charges including bribery and embezzlement, according to prosecutors.

Second-gen Lee Jae-yong, the vice chairman and heir apparent of electronics conglomerate Samsung, is to be indicted on multiple charges including bribery and embezzlement, according to prosecutors.

Earlier this month, the 48-year-old was arrested for his alleged role in providing about ₩43 billion ($37 million) to a friend of South Korean president Park Geun-hye to win state approval for a controversial 2015 merger.

December 23, 2016

Two Maersk ships sink en route to Turkish scrapyard; Nintendo stock falls despite hit game Super Mario Run; News Corp banned from Melbourne Pride after ‘homophobic’ cartoon

Two Maersk ships sink en route to Turkish scrapyard

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, has confirmed that two of its offshore supply vessels sunk off the coast of France while being towed to a Turkish shipyard for recycling.

The Maersk Supply Service vessels, Maersk Searcher and Maersk Shipper, were unmanned. All employees aboard the towing vessel Maersk Battler are safe.

November 11, 2016

ArcelorMittal posts profit amid cost increase; Henkel beats Q3 expectations; and Berkshire Hathaway shares surge on Trump election

ArcelorMittal posts profit amid cost increase

Family-owned steel giant ArcelorMittal has posted a net profit in the third quarter after cost reductions helped offset a drop in revenue.

However, the Luxembourg-based steelmaker warned higher coking-coal prices and falling US steel prices would hamper profitability in the current quarter.

ArcelorMittal also posted a 40% rise in earnings before interest, taxes, depreciation and amortisation to $1.9 billion, despite a 6.8% drop in revenue to $14.5 billion for the quarter.

October 26, 2016

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

The Fourth of July is a US national carnival unlike any other – celebrating the anniversary of the signing of the Declaration of Independence in 1776.

October 18, 2016

Campden Wealth is asking one of the most fundamental questions in the family business community as the launch pad for its latest agenda-setting study.

Campden Wealth is asking one of the most fundamental questions in the family business community as the launch pad for its latest agenda-setting study.

The organisation has teamed up with leading global investment firm Kohlberg Kravis Roberts (KKR) to ask this autumn: How do you finance your family business?

September 6, 2016

I meet a lot of next-generation members of family businesses. One of the hot discussion topics is the question of whether and how they want to start in their family’s business.

I meet a lot of next-generation members of family businesses. One of the hot discussion topics is the question of whether and how they want to start in their family’s business.

July 27, 2016

Japanese videogame maker Nintendo, owned by the sixth generation of the Yamauchi family, has reported its worst first quarter loss in five years as it struggles with weak demand and a strong yen.

Japanese videogame maker Nintendo, owned by the sixth generation of the Yamauchi family, has reported its worst first quarter loss in five years as it struggles with weak demand and a stronger yen.

Despite the success of its smartphone game Pokémon Go, which is reportedly making about $1.6 million per day, Nintendo saw revenues fall by 31% to ¥62 billion ($586 million) in the three months to the end of June.

July 22, 2016

Jet skis? Old hat. High-speed tenders? Everyone’s got one of those. A 3-person submarine? Now you’re talking! Alan Harper looks at the latest high-spec inventions to help adventurous types make the most of their superyachts and charters

Jet skis? Old hat. High-speed tenders? Everyone’s got one of those. A 3-person submarine? Now you’re talking! Alan Harper looks at the latest high-spec inventions to help adventurous types make the most of their superyachts and charters

July 22, 2016

Swatch first-half profit declines to lowest level in nearly a decade; Dassault Aviation profit down, deliveries cancelled; and Maersk signs five-year carbon reduction scheme

Swatch first-half profit declines to lowest level in nearly a decade

Swiss watchmaker Swatch, owned by the Hayek family, reported its lowest first-half profit in seven years amid a challenging time for luxury goods.

According to a company statement, first-half operating profit declined 54% to CHF353 million ($359 million) but said it expects “clear growth” in the second half of the year. Swatch said July 15 that revenue fell about 12%.

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