Share |

FBN

FB Roundup: Nintendo, Red Rock Resorts, and Bouygues

April 29, 2016

Nintendo misses profit forecast; Red Rock Resorts raises $531 million in IPO; and Bouygues CEO to unveil succession plan

Nintendo misses profit forecast

Japanese video game maker Nintendo, owned by the sixth generation of the Yamauchi family, report net profit fell 60.6% in 2015 to ¥16.51 billion ($139.5 million), as consumers reined in spending ahead of its new console launch.

The Kyoto-based videogame maker added that its digital sales netted ¥44 billion in the same period, which is up from ¥31 billion, highlighting to investors that last year’s move into the smartphone gaming market is likely to prove fruitful.

Emissions scandal threatens two family-owned car makers

April 29, 2016

Two more of Europe’s family-owned car makers could become caught up in the emissions scandal that has engulfed Volkswagen.

Two more of Europe’s family-owned car makers could become caught up in the emissions scandal that has engulfed Volkswagen.

Offices at PSA Group, which owns Peugeot and Citroen, have been raided, while tests on a Fiat model have suggested it might be programmed to deactivate pollutant controls outside test conditions.

Family Business Roundup: AB InBev, Primark, and Volkswagen

April 22, 2016

Peroni and Grolsch sold to smooth AB Inbev and SABMiller deal; Primark profits hampered by strong dollar; and Volkswagen agrees to buy back 600,000 US vehicles

Peroni and Grolsch sold to smooth AB Inbev and SABMiller deal

Family-controlled brewer AB InBev, which has been shedding assets to win regulatory approval for a takeover of SABMiller, has agreed to a €2.55 billion ($2. 87 billion) deal to sell European lager brands Peroni and Grolsch.

Japanese brewer Asahi will buy the lager brands in the UK and Europe, as well as London’s Meantime brewery, which is being put up for sale to help ease regulatory concerns over its £71 billion ($102 billion) takeover of SABMiller.

Family Business Roundup: Bollore, Marriott International, and Sika

April 15, 2016

Bollore Group raided over west Africa port concessions; Marriott and Starwood join hands in blockbuster hotel deal; and Sika board limits Burkard family vote

Bollore Group raided over west Africa port concessions

French authorities have searched the headquarters of Bollore Group in Paris as part of an investigation into alleged port concessions it received in West Africa.

The investigation is looking into a possible relationship between Bollore Group, headed by seventh-gen Vincent Bollore, and Francis Perez, the president of casino and hotel group Pefaco.

FB Roundup: Faber-Castell, Tata, and H&M

April 8, 2016

Adult colouring book craze prompts growth at Faber-Castell; Tata patriarch defends sale of UK steelworks; and Mixed first quarter for high street giant H&M

Adult colouring book craze prompts growth at Faber-Castell

A surge in the number of people buying adult colouring books has caused double-digit growth at German writing instruments manufacturer Faber-Castell.

The eighth-generation family firm has been forced to run extra shifts in its factory to keep up with demand, Sandra Suppa from Faber-Castell told The Independent.

Adult colouring books have become a surprise success in bookshops and have sold some 16 million copies worldwide.

FB Roundup: Tata Steel, Lotte Group, and Monarch

April 1, 2016

Tata Steel considers selling British plants; Lotte founder loses seat on board; and Greybull Capital mulling sale of Monarch Airlines

Tata Steel considers selling British plants

Tata Steel, one of the largest steelmakers in the world, is considering the sale of its entire UK business after heavy losses.

According to a company statement from the family-controlled conglomerate, the increase in Chinese imports, coupled with slow demand, has caused the price of steel in Europe to plunge by half since 2011.

Wealthy investors shift strategy to preserve capital

March 31, 2016

The switch to a ‘risk-off’ investment philosophy by ultra-high net worth families and investors is continuing a preservation trend that began last year in Asia and the emerging markets.

The switch to a ‘risk-off’ investment philosophy by ultra-high net worth families and investors is continuing a preservation trend that began last year in Asia and the emerging markets.

Preservation of capital has emerged as a key issue, even for Asian clients, according to Christophe Donay, chief strategist at Pictet Wealth Management, and supports earlier findings by Campden Research.

Family Business Roundup: Heineken, Todd Corporation, and Maersk

March 18, 2016

Heineken eyes control of indebted Indian tycoon’s brewery; Todd Corporation renews acquisition attempt of Flinders Mines; and Maersk claims first drone delivery at sea

Heineken eyes control of indebted Indian tycoon’s brewery

Netherlands-based brewery Heineken is likely to ask Vijay Mallya, known as ‘India’s Richard Branson’, to step down from the board of United Breweries, according to Reuters.

Heineken currently holds a 42.4% stake in United Breweries, the largest brewer in India, and has reportedly lost faith in the entrepreneur, who owes creditor banks more than $1 billion.

Family Business Roundup: Cargill, Cemex, and Volkswagen

March 11, 2016

Cargill plans to reduce antibiotic resistance in cattle; CEMEX to sell assets in Bangladesh, Thailand; and Volkswagen's US chief resigns amid on-going crisis

Cargill plans to reduce antibiotic resistance in cattle

Family-controlled Cargill, the world’s largest agricultural commodities trader, is reducing the use of antibiotics in its cattle following concerns about risks to humans from antibiotic-resistant bacteria.

The Minnesota-based company said it would eliminate 20% of antibiotics known to be important to humans from its four feed yards in Texas, Colorado and Kansas.

Korea’s chaebol enter fourth generation for first time

March 9, 2016

Doosan Group, the oldest business in Korea, has broken new ground as the first chaebol to be led by a fourth-generation heir.

Doosan Group, the oldest business in Korea, has broken new ground as the first chaebol to be led by a fourth-generation heir.

According to a company statement, Doosan chairman Park Yong-maan announced his retirement at a board meeting last week and recommended that his nephew, Park Jeong-won, take on the role.