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volkswagen

February 22, 2022

In this week’s FB Roundup, Volkswagen is looking to float its Porsche brand in a potential IPO; Family offices are investing in a Buffett-led alternative energy group; and a Swedish billionaire fund backs new African tech VC investment.

Volkswagen looking to float Porsche brand in potential IPO

Car manufacturer Volkswagen is in “Advanced discussions” to float its Porsche brand in what could result in one of the largest initial public offerings (IPOs) in Germany for years.

VW, the world’s second-largest carmaker by volume released a statement saying that it was in talks with its majority shareholder, Porsche SE - the German holding company owned by the founding family of Ferdinand Porsche.

July 30, 2021

Porsche family joins billionaire space race with rocket investment, Amancio Ortega’s Inditex fortunes fall and rise with Covid-19 restrictions, Weston family puts Selfridges on the auction block for $5.5 billion.

Porsche family joins billionaire space race with rocket investment

The Porsche family is backing the European rocket launch startup Isar Aerospace Technologies with an eye on the spin-off innovations from easier access to space.

April 30, 2020

Bosch launches rapid Covid-19 test and prepares for global recession, Deichmann manages reputational risk over coronavirus rents, sales-hit Volkswagen reviews all projects as car production resumes.

Bosch launches rapid Covid-19 test and prepares for global recession

Bosch, the family-owned multinational engineering and technology giant, has developed and distributed a test for Covid-19 that delivers results after two and a half hours and is finalising a test that gives a verdict in less than 45 minutes.

March 23, 2020

The families behind a British hospitality group, a German automaker and an emirates conglomerate are doing their bit in the fight against the coronavirus pandemic by cancelling commercial rents, providing face masks and donating ambulances.

The families behind a British hospitality group, a German automaker and an emirates conglomerate are doing their bit in the fight against the coronavirus pandemic by cancelling commercial rents, providing face masks and donating ambulances.

Fuller, Smith and Turner, the UK’s 174-year-old family-controlled pub and hotel business temporarily closed its entire managed pubs and hotels estate from today until further notice. There have been 5,683 cases and 281 deaths in the UK from COVID-19, the disease caused by the coronavirus.

October 31, 2019

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

The Italian Agnelli family, which controls Fiat Chrysler through its holding company Exor, was expected to approve the proposed $48 billion union with Peugeot-owner PSA, itself 12.2% owned by the French Peugeot family.

September 25, 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.

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