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December 6, 2020

Second UK lockdown cost Weston family’s Primark $579 million in sales, Red Bull energises Yoovidhya family of inventor with $257 million payout, Lord Bamford gives JCB staff an extra holiday to mark 75th anniversary.

Second lockdown costs Weston family’s Primark $579 million in sales

The Weston family-controlled food and retail giant Associated British Foods estimates it lost £430 million ($579 million) in sales while its high street fashion retailer Primark was closed during the latest coronavirus lockdown.

April 24, 2020

Warburtons focuses on core bread products to meet rising demand, JCB produces medical visors and housing for Dyson’s ventilator, Hays Travel starts to bring back furloughed staff and offers travel guarantee.

Warburtons focuses on core bread products to meet rising demand

British family baking business Warburtons has adapted to the demands of the coronavirus lockdown by narrowing its range of products, requiring fewer staff in factories who may fear for their health.

March 15, 2020

Global family businesses are stepping up to the challenge of the deadly coronavirus pandemic by safeguarding staff, adapting production lines and pledging millions of dollars to the medical relief effort.

Global family businesses are stepping up to the challenge of the deadly coronavirus pandemic by safeguarding staff, adapting production lines and pledging millions of dollars to the medical relief effort.

Lord Bamford (pictured), the second-generation chairman of JCB, said his $5 billion manufacturing family business had been approached by UK Prime Minister Boris Johnson to see if it can help with the production of ventilators. The machines help the breathing of patients whose lungs have been damaged by COVID-19.

February 19, 2020

Walmart is disappointed with festive consumer spending and Asda but online sales up 35%, JCB cuts UK production as the coronavirus hits Chinese suppliers, and fifth-generation US newspaper dynasty McClatchy Co files for bankruptcy.

Walmart disappointed with festive consumer spending and Asda but online sales up 35%.

Walmart, the world’s biggest family business with $524 billion in revenue and an economic bellwether, says holiday sales were weaker than anticipated despite online sales jumping 35% in the fiscal year.

October 2, 2019

JCB digs into record sales against softening markets, IKEA assembles 5% increase in sales after transformation, American, Chinese sales help brew 39% profit for illycaffe.

JCB digs into record sales against softening markets

Bamford family-controlled manufacturer JCB says growth has stalled, especially in its biggest market India, despite sales increasing by almost a quarter last year.

September 10, 2015

For decades, wealthy European families have been deploying part of their capital into infrastructure – and often directly into assets. 

For decades, wealthy European families have been deploying part of their capital into infrastructure – and often directly into assets. 

May 22, 2015

Korean Air third-gen Heather Cho freed; JCB boss backs Brexit; and Sika founding family sues directors

Korean Air third-gen Heather Cho freed

Former Korean Airlines executive Heather Cho has been released from jail after an appeals court ruled she did not violate aviation safety laws when she forced a plane to return to its gate because she felt her macadamia nuts were incorrectly served.

May 15, 2015

DMCI secures Philippine Skyway Stage 3 contact; JCB donates diggers to Nepal relief effort; and Todd Corporation digs deep to acquire Pilbara mine

DMCI secures Philippine Skyway Stage 3 contact

Philippine infrastructure conglomerate DCMI, owned by the Consunji family, has agreed to build part of the Metro Manila Skyway after being awarded a 32-month contract.

In a disclosure to the Philippine Stock Exchange, DMCI Holdings announced it would build sections one and two of the extension part of the project, which will provide the finishing touches on the Philippines' first fully elevated highway.

July 25, 2013

When they start a business, many people naturally give it there own name. It suggests solidarity and trustworthiness, and helps a lot in meetings. But is there a moment when it's no longer desirable to be inextricably tied to your family's business?

Earlier this year the French luxury group Pinault-Printemps-Redoute changed its name to Kering. In doing so, it took big step – it shed the family name. The decision to do so was taken by the chairman and CEO, Francois-Henri Pinault, who is the son of the business’s founder (the Printemps and Redoute are from various takeovers). Pinault cited perfectly sound business reasons for the rebranding – chief among them that only 5% of the group’s sales now come from France. Nonetheless, this is a Rubicon many family businesses would struggle to cross.

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