FBN

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.

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.

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.

Park Geun-hye impeached over chaebol corruption

South Korean legislators have voted to impeach president Park Geun-hye following revelations that the country’s chaebol conglomerates handed over tens of millions of dollars in exchange for political favours. 

Park, who was nicknamed the ‘chaebol sniper’ for her anti corruption sentiment, is now at the centre of a scandal involving a mysterious friend, Choi Soon-sil, who is accused of extorting millions from the very establishments she set out to tackle.