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February 19, 2020

Walmart is disappointed with festive consumer spending and Asda but online sales up 35%, JCB cuts UK production as the coronavirus hits Chinese suppliers, and fifth-generation US newspaper dynasty McClatchy Co files for bankruptcy.

Walmart disappointed with festive consumer spending and Asda but online sales up 35%.

Walmart, the world’s biggest family business with $524 billion in revenue and an economic bellwether, says holiday sales were weaker than anticipated despite online sales jumping 35% in the fiscal year.

July 21, 2014

Norberto Odebrecht, the man who turned his father’s small engineering firm into a construction empire, has died at the age of 93 in his hometown of Salvador, Brazil.

Norberto Odebrecht, the man who turned his father’s small engineering firm into a construction empire, has died at the age of 93 in his hometown of Salvador, Brazil.

The grandson of German immigrants, his eponymous family business Grupo Odebrecht is today Latin America’s largest engineering group, with revenues of R$96.9 billion (€32.2 billion) and operations in 23 countries across Europe, Africa, the Middle East, as well as the Americas.

May 27, 2014

Nassef Sawiris is considering relisting part of OCI, the Netherlands-listed construction and fertiliser company, on the Cairo stock exchange.

Nassef Sawiris is considering relisting part of OCI, the Netherlands-listed construction and fertiliser company, on the Cairo stock exchange.

Sawiris, who is chief executive of OCI, allegedly sent out a number of proposals to local and international banks to test the water for a potential sale, which according to unnamed individuals close to the entrepreneur, could be worth €220 million.

May 13, 2014

Lorenzo Zambrano, the Mexican businessman who turned his family’s cement manufacturer into a multinational company, has died suddenly at the age of 70 in Spain.

Lorenzo Zambrano, the Mexican businessman who turned his family’s cement manufacturer into a multinational company, has died suddenly at the age of 70 in Spain.

According to local media, the fourth-generation chairman and chief executive of Cemex was found by members of staff at his Madrid hotel, after he failed to turn up for a business meeting.

He was not known to be in poor health.

February 5, 2014

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

January 15, 2014

An investment vehicle backed by the multi-billionaire Rockefeller family has reached a $2.5 billion ($1.8 billion) agreement to construct a residential and holiday resort in Vietnam.

An investment vehicle backed by the multi-billionaire Rockefeller family has reached a $2.5 billion ($1.8 billion) agreement to construct a residential and holiday resort in Vietnam.

Rose Rock Group will partner with fuel company Vung Ro Petroleum to build the project in Vung Ro Bay, in Phu Yen province on the south-central coast of Vietnam.

August 20, 2013

In a rare interview, CampdenFB talks to Mishal Kanoo, deputy chairman of one of the Middle East’s top family businesses, the Kanoo Group.

Family life is extremely private in the Gulf. In a way, it is not surprising that people who dress so conservatively, with women shrouded in black and men cloaked in white, should be so guarded in showing a public face. In the same way, family businesses in the Gulf Cooperation Council, which make up the vast majority of the successful corporations there, are curiously reluctant to share their successes with the press. For this reason, the willingness of Mishal Kanoo, deputy chairman of the GCC-based Kanoo Group, to speak to CampdenFB, is all the more remarkable.

November 8, 2012

Patton Group, a 100-year-old family-owned construction business, has gone into administration after suffering the effects of tough trading conditions.

Patton Group, a 100-year-old family-owned construction business, has gone into administration after suffering the effects of tough trading conditions.

Owned by the eponymous family, the Ballymena, Northern Ireland-based company said this week it was exploring “all possible options for the future”. This could include selling all or part of the family business.

July 18, 2012

Italy’s Salini family has won the battle against the Gavio family to control the country’s biggest construction company, Impregilo, after shareholders approved a plan to oust board members backed by the Gavios.

Italy’s Salini family has won the battle against the Gavio family to control the country’s biggest construction company, Impregilo, after shareholders approved a plan to oust board members backed by the Gavios.

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