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.
Fiat Chrysler Automobiles (FCA) is the latest top 10 carmaker to say it will stop making diesel cars.
Fiat Chrysler Automobiles (FCA) is to stop making diesel cars by 2022—the latest top 10 carmaker to call it quits on the controversial fuel.
The Italian carmaker that is controlled by Exor, the investment vehicle of the Agnelli family who have a 29% stake in FCA, said it would stop making diesel cars due to falling demand and spiralling regulatory costs, according to media reports.
Family controlled automaker Volkswagen wants to become the world leader in manufacturing electric cars in its bid for environmentally friendly redemption.
Family controlled automaker Volkswagen wants to become the world leader in manufacturing electric cars in its bid for environmentally friendly redemption.
The unveiling this week of its corporate shake-up for the next decade and beyond coincided with more repercussions from its diesel emissions-cheating scandal in 2015. The beleaguered German car group is owned by the third-generation Porsche and Piëch families.
Family business Toyota shot up almost one-third in its brand portfolio value to $55.3 billion this year, in the latest annual evaluation of the world’s most powerful brands.
Family business Toyota shot up almost one-third in its brand portfolio value to $55.3 billion this year, in the latest annual evaluation of the world’s most powerful brands.
The Japanese company owned by the Toyoda family grew by 30% to become the fifth fastest growing portfolio of brands, according to branded business valuation and strategy consultancy Brand Finance.
Volkswagen posts its first quarterly loss in more than 15 years; Vincent Bolloré plans to IPO West African train project; and Samsung compensates workers in hazardous conditions claim
Emissions scandal forces Volkswagen’s first loss in 15 years
Family-controlled carmaker Volkswagen has posted its first quarterly loss in more than 15 years due to €6.7 billion ($7.38 billion) of charges it has set aside to cover costs after it admitted rigging diesel emission tests.
Controlled by the third generation of the Piech family, Volkswagen admitted last month it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.
