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September 24, 2019

Hotel magnate Barron Hilton dies age 91, Volkswagen chief executive faces criminal charges in Germany over ‘dieselgate’ and billionaire Uniqlo founder fears Brexit could turn UK into the ‘sick man of Europe’.

Hotel magnate Barron Hilton dies age 91

Barron Hilton, the hotel magnate who expanded his father’s chain, has died age 91.

In a statement, the Hilton family said Hilton died of natural causes at his home in Los Angeles on Thursday. He is survived by eight children, 15 grandchildren and four great-grandchildren. His wife, Marilyn Hawley Hilton, died in 2004.

“The Hilton family mourns the loss of a remarkable man,” Steven M Hilton, Hilton’s son and chairman of the family’s Conrad N Hilton Foundation, said.

September 9, 2019

Family businesses play a significant role in the global economy, and a number of business empires are family-owned. And just like any company today experiencing a tech-driven change, family-run enterprises aren’t an exception. To remain competitive, however, these firms should have a clear sense of what they want to accomplish and adjust accordingly. 

Family businesses play a significant role in the global economy, and a number of business empires are family-owned. And just like any company today experiencing a tech-driven change, family-run enterprises aren’t an exception. To remain competitive, however, these firms should have a clear sense of what they want to accomplish and adjust accordingly. They can’t stubbornly oppose change and insist on the same business practices forever, because it could be detrimental for them and cause irreparable damage.

August 30, 2019

Controversial family business titans David Koch and Ferdinand Piech, who died within days of each other, shaped the era they lived in, but their approach to succession was very different.

Controversial family business titans David Koch and Ferdinand Piech, who died within days of each other, shaped the era they lived in, but their approach to succession was very different.

November 16, 2018

Bombardier to cut 5000 jobs in restructuring, Thailand conglomerate Charoen Pokphand Group bids for rail project, and Volkswagen in talks with Ford to invest in self-driving unit Argo.

Bombardier to cut 5000 jobs in restructuring

Canadian aerospace giant Bombardier is to cut 5,000 jobs as part of an effort to streamline operations and reduce costs.

Bombardier said the 7% reduction of its workforce over the next 12 to 18 months will save the company about $250 million a year by 2021, with the job cuts mostly coming from the company’s engineering and management ranks.

April 13, 2018

Maersk eyes female CFO candidates, Tengelmann hit by back-to-back tragedies, and VW to replace stopgap chief.

Maersk eyes female CFO candidates

Maersk may hire its first female chief financial officer to join its all-male executive, following its election of one of the least gender-diverse boards in Denmark.

March 22, 2018

Nordstrom ends talks with founding family, Porsche put next-gen in the driver's seat, and Ofers divide assets to avoid competition law

Nordstrom ends talks with founding family

Nordstrom have ended discussions with its founding family over re-privatising the business, following 10 months of negotiations.

The fashion retailer had appointed a committee to negotiate with the family—who own just over 30%—on behalf of shareholders, but the parties had been unable to reach an agreement and this week Nordstrom announced it had “terminated” discussions.

December 7, 2017

Mars moves in on healthy snacks by investing in Kind, VW expects record sales despite emissions scandal, and which cities contain the most ultra-highnet worth people?

Mars moves in on healthy snacks

Mars, famous for its sweet treats, has invested in a $4 billion healthy snack maker, as it diversifies in the face of growing hostility towards sugar-laden foods.

The terms of the deal, which saw Mars acquire a minority stake in Kind, were not disclosed. The Financial Times quoted “people familiar with the matter” as saying Kind had a value of $4 billion and turned over $700 million a year.

March 21, 2017

Former Volkswagen chairman Ferdinand Piech is in talks to sell the majority of his shares in holding company Porsche SE in a move that could threaten its future as a family-run business. 

Former Volkswagen chairman Ferdinand Piech is in talks to sell the majority of his shares in the holding company Porsche SE in a move that could threaten its future as a family-run business.

The news comes several weeks after Piech stirred controversy when he allegedly told Volkswagen’s internal investigators that he confronted former chief executive Martin Winterkorn over the emissions scandal in March 2015.

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

 

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