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The financial crisis has demonstrated the need for new regulatory approaches and increased supervision of financial service providers. This has sparked a raft of new legislation that attempts to ensure no such crisis happens again.

Elisabetta Gucci has reportedly received a lawsuit from the luxury group founded by her great grandfather Guccio Gucci over her plans to open a global chain of hotels under her name.

Shaw Communications, the family-controlled media giant, won court approval for its proposed takeover of Canwest Global’s broadcasting arm on Wednesday after amending its offer to include a $10.6 million payout to shareholders, including Canwest’s founding family.

Lilian Bettencourt, L’Oreal heiress and France’s richest woman, has said she will declare her overseas assets after she was caught on tape discussing apparently undisclosed holdings with an advisor.

International law firm Trowers & Hamlins announced yesterday it has filed a £720 million foreign exchange claim against the troubled family-owned conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB).

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