2017 results

FB Roundup: Swire Pacific, Volkswagen, and family firm philosophy

March 16, 2018

Cathay losses offset by property at Swire Pacific; VW cars using more diesel following recall; and governance, employee care characterise family firms

Cathay losses offset by property at Swire Pacific

Swire Pacific has reported a HK$4.7 billion ($600 million) profit for 2017, as losses from subsidiary Cathay Pacific were offset by property sales.

The Hong Kong arm of UK-based family investment vehicle John Swire & Sons (JS&S) posted revenues of $10.2 billion, up 29% from 2016, off the back of the settlement of a large property deal.

FB Roundup: Swire Pacific, Point72, and Maersk

February 16, 2018

Swire Pacific brings in family member; Cohen’s Point72 accused of hostility to women; and Maersk positive despite "unusual" year.

Swire, Murugappa bring in family members

Swire Pacific has appointed its first family member chairman, a move which will see sixth-generation Merlin Swire, pictured, relocate to Hong Kong from the UK.

Swire, 45, replaces John Slosar as the head of the Hong Kong arm of John Swire & Sons (JS&S), though the latter stays on as chair of Cathay Pacific, to see the struggling airline through a transformation programme.

L'Oreal ready to buy-out Nestlé following Bettencourt's death

February 15, 2018

A cash-rich L’Oreal is ready and waiting to buy back the stake of itself owned by struggling Nestlé, the beauty giant’s chief executive has said.

A cash-rich L’Oreal is ready and waiting to buy back the stake of itself owned by struggling Nestlé, the beauty giant’s chief executive has said.

Off the back of a stellar year which saw the French beauty company’s profits rise 15%, chief executive Jean-Paul Agon gave an emphatic “yes” when asked whether L’Oreal would be keen to buy back the 23% stake owned by Nestlé, worth nearly €23 billion ($28 billion).