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Trucking icon dies at 56

April 1, 2011

Edward Stobart, the trucking magnate who is credited with growing his father's business into an international concern, died on 31 March aged 56.

The Stobart Group said in a statement that Edward died due to heart problems and is survived by his parents, wife and children.

Eddie Stobard Ltd was founded in the 1950s by Eddie Stobart Sr. What began as a small agri-business, grew to become a household name in UK haulage. Second-generation Edward was instrumental in expanding the UK-based group's operations to include haulage.

IFB calls for simplification of family business trusts

February 3, 2011

The UK-based Institute for Family Business has recommended that the rules governing creation of a family business trust be simplified so that families can plan their succession successfully.

According to IFB, family businesses use trusts to ensure stable management of the business, especially when handing over control to the next generation.

UK's biggest family business reports strong results

September 13, 2010

Associated British Foods, the food and retail group owned by the Weston family, announced 13 September that trading for the second half had risen substantially and that it expected strong full-year results for the year ending 18 September.

News analysis: Has doing business in India just got harder?

September 10, 2010

A ruling by Mumbai’s high court that has landed UK-based phone operator Vodafone with a huge tax bill could have ramifications for family companies looking to build business interests in India.

A ruling by Mumbai's high court that has landed UK-based phone operator Vodafone with a huge tax bill could have ramifications for family companies looking to build business interests in India.

The high court ruled on Wednesday that the $11 billion (€8.64 billion) sale of mobile phone business Hutchison Essar, a subsidiary of the Li family's Hong-Kong-based Hutchison Whampoa conglomerate, to Vodafone in 2008, is eligible for capital gains tax in India.

Is Tony Blair setting up a family office?

August 25, 2010

There has been considerable speculation about whether Tony Blair, the former UK prime minister and current Middle East peace envoy, is in the process of launching a private bank to service rich clients. But could the truth really be that he's setting up a family office?

Unsurprisingly, Tony Blair's office has denied the reports in the UK media that he's setting up a private bank, but that hasn't dampened down speculation.

Family-run motor company flourishes

August 23, 2010

Despite wider problems in the global automobile industry, classical carmaker Morgan Motor Company has recorded strong results, as demand for its iconic convertible remains strong.

According to a report in the Financial Times that cited Company House numbers, the Malvern, Worcestershire-based company saw full-year 2009 pre-tax profit treble to £661,209 on turnover of £26.8m, up from £22.1m the year before.

UK's 10 biggest family businesses revealed

August 13, 2010

A new study by the Institute for Family Business has revealed the UK’s 10 largest family businesses.

A new study by the Institute for Family Business has revealed the UK's 10 largest family businesses.

The list is headed by the Weston family-owned Associated British Foods, which had 2009 sales of £9.26 billion and includes well-known high street brands such as Kingsmill, Pataks, Primark, Ryvita and Twinings.

News analysis: Botin positions Santander for further growth

August 4, 2010

Banco Santander, one of Europe’s largest banks which still has strong links to the founding family, announced today that it will acquire 318 branches from the Royal Bank of Scotland Group in a deal worth £1.65 billion.

Banco Santander, one of Europe's largest banks which still has strong links to the founding family, announced today that it will acquire 318 branches from the Royal Bank of Scotland Group in a deal worth £1.65 billion.

The deal will give Santander an additional 1.8 million customers in the UK and is expected to be concluded by the end of 2011.

Moss Bros no longer fits for founding family

August 28, 2008

One of the founding families of Moss Bros, the 100-year British suit retailer, has all but sold out of the business following a reshuffle of the company’s board of directors.

One of the founding families of Moss Bros, the 100-year British suit retailer, has all but sold out of the business following a reshuffle of the company's board of directors.

Moss Bros has announced that Rowland Gee is stepping down from the company's board as non-executive director, leaving the Gee family stake at roughly 0.5%, down from 8%. The Moss family currently retains a stake of about 18%.

Bill Gates lays down new family business investment

May 30, 2008

Microsoft founder Bill Gates has taken a 3% stake in UK family-owned business Carpetright.

Microsoft founder Bill Gates (pictured) has taken a 3% stake in UK family-owned business Carpetright. Gates has made the investment through his private Cascade Investment company, which holds stakes in a diverse range of companies including family-owned Cox Communications and Warren Buffett's Berkshire Hathaway.