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March 17, 2017

Chow Tai Fook Enterprises to pay $3 billion for Australia’s Alinta Energy; Volkswagen targets Bay Area in $2 billion electric-vehicle infrastructure deal; and Nintendo doubles production on Switch console

Chow Tai Fook Enterprises to pay $3 billion for Australia’s Alinta Energy

 

March 10, 2017

Maersk and IBM to launch supply chain solution; Cargill and CARE renew partnership; and Henkel to acquire Mexican haircare business

Maersk and IBM to launch supply chain solution

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, has announced a partnership with IBM to implement blockchain technology across its global supply chain.

The new technology will be made available to the logistics industry and aims to manage and track the paper trail of millions of shipping containers—an innovation that could save the industry billions.

February 24, 2017

Heineken Asia gamble pays off as Tiger Beer flourishes; Berkshire Hathaway dumps $900 million Walmart stock; and Henkel reports strong fourth quarter

Heineken Asia gamble pays off as Tiger Beer flourishes

Netherlands-based brewer Heineken, controlled by the eponymous family, has reported its fastest earnings growth in seven years.

The 153-year-old family business said growth was driven by a 13% increase in revenue in Asia where larger sales have grown at a double-digit rate for two years.

Heineken gambled on the Asian market in 2012 when it purchased Asia Pacific Breweries, the producer of Tiger Beer, which has grown at a double-digit pace since 2015.

February 16, 2017

Samsung heir arrested in corruption scandal; Hanjin Shipping sunk by South Korean court; and Cargill to invest further $300 million in Egypt

Samsung heir arrested in corruption scandal

February 3, 2017

LVMH to a grip on eyewear market with Marcolin deal; Volkswagen overtakes Toyota as top company, despite cheating scandal; and Bosch pays $330 million compensation in VW cheating scandal

LVMH to focus on eyewear market with Marcolin deal

French family-owned luxury giant LVMH have taken a 10% stake in spectacle maker Marcolin as it looks to tighten its grip on the eyewear market.

The news comes just one week after another family-owned eyewear group, Luxottica, and its French rival Essilor agreed to a €46 billion ($49 billion) merger to combat increasing competition from large luxury players, such as LVMH.

January 27, 2017

NY prosecutor drops charges against Fiat heir Lapo Elkann; PZ Cussons reports huge first-half profits drop; and French carmaker Peugeot returns to India after two decades

NY prosecutor drops charges against Fiat heir Lapo Elkann

 

New York prosecutors have dropped charges against Lapo Elkann, one of the heirs to Italian industrial dynasty Fiat Chrysler, who has been accused of concocting a fake abduction scheme in an effort to get ransom money.

 

January 19, 2017

Lundin Petroleum announces its 2017 budget, Galen G Weston succeeds father as George Weston CEO, Samsung heir Lee Jae-yong has avoided arrest

Lundin Petroleum announces its 2017 budget

Family-owned oil and gas company Lundin Petroleum, controlled by the eponymous Swedish family, will spend about $1.3 billion on development, appraisal, exploration and production this year, according to its 2017 budget.

January 13, 2017

LL Bean boycotted after heiress donated to Trump campaign; Samsung heir quizzed on bribery allegations; and Hero Motocorp sales down one-third in December

LL Bean boycotted after heiress donated to Trump campaign

LL Bean heiress Linda Bean has landed the Maine-based retailer on a prominent boycott list after contributing $55,000 more than allowed to President-elect Donald Trump's campaign.

In response to her $60,000 donation, the Grab Your Wallet campaign, which launched in October in response to Trump’s comments about women, encouraged consumers to avoid the retailer.

January 6, 2017

Goya Foods donates 10,000 pounds of food per month to Catholic diocese; Walmart Reaches Deal With Visa to End Credit-Card Ban in Canada; and Volkswagen Group says ‘auf wiedersehen’ to official language

Goya Foods donates 10,000 pounds of food per month to Catholic diocese

Goya Foods, the largest Hispanic-owned food company in the United States, has revealed it will donate 125,000 pounds of food to an agency dedicated to serving the less fortunate in northern New Jersey.

Based in Jersey City, Goya Foods will send 10,000 pounds of food each month to Catholic Charities of the Archdiocese of Newark, which will distribute the goods to Hudson, Bergen, Essex and Union counties.

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