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Bloomberg: Billionaire Kellner Family Gains Full Ownership of PPF Group
· Kellner family buys out two minority shareholders in PPF Group
· Transactions meant to simplify PPF’s ownership structure
Financial Times: Adani switches UK auditor to firm with four partners
Adani Group, the Indian conglomerate accused of accounting fraud by a US short seller, has changed the auditor of its main UK subsidiaries to a firm with four partners.
It is the latest audit shake-up in Indian billionaire Gautam Adani’s business empire since Hindenburg Research accused the group of stock price manipulation and fraud in January, triggering a stock market sell-off that wiped billions from the conglomerate’s value.
The US short seller flagged Adani’s use of a “tiny firm” in India called Shah Dhandaria & Co as one of its main auditors, prompting the conglomerate to state in a rebuttal that its companies “follow a stated policy of having global big 6 or regional leaders as statutory auditors”.
Financial Times: My First Million: Thom Elliot, co-founder, Pizza Pilgrims
Thom Elliot, 39, and his brother James, 37, co-founded Pizza Pilgrims in March 2012, selling pizzas at Berwick Street market in London’s Soho soon after street food became popular. From turnover of £110,000 in 2013, sales in the year ending June 2022 were £21mn. Disillusioned with their careers — Thom in advertising, James in TV production — the brothers bought a Piaggio Ape (tuk-tuk) and spent a month on a “pilgrimage” driving around Italy, researching pizzas, ingredients and flavours. They installed a pizza oven in the vehicle and used it as a market stall. Today, the entrepreneurs have 20 pizzerias in London, and four outside the capital, in Nottingham, Cambridge, Oxford and Brighton. With its “pizza base” on Carnaby Street, Pizza Pilgrims employs 480 people. Both brothers go by the title “co-founder”, but Thom Elliott describes himself as “the more numerate” of the duo.s”.