New York: US cosmetics giant Revlon has filed for bankruptcy after years of stiff competition from rivals focused on online sales and supply chain problems.
In a court filing late Wednesday, the company initiated Chapter 11 proceedings to manage its debt, which it said stood between $1 billion and $10 billion. Revlon, known for its signature nail polish and lipstick, reported long-term liabilities of $3.3 billion in the first quarter. "Today's filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth," CEO Debra Perelman said in a statement. In the United States, Chapter 11, known as reorganization bankruptcy, allows firms to restructure themselves while being protected from creditors and continuing to operate. The company said it expects to receive $575 million in financing from its lenders if its bankruptcy is approved in court. Owned by billionaire investor Ronald Perelman and run by his daughter, Debra Perelman, Revlon reported a net loss of $67 million from January to March. The company, which lists Elizabeth Arden, Almay, and Britney Spears Fragrances among its brands and has operations in more than 150 countries, has suffered from the global supply chain crisis and high inflation. Revlon also has also faced increasingly tough competition, which has hurt revenue in recent years. The company was embroiled in controversy in August 2020 when Citibank revealed that it had accidentally transferred $900 million dollars to several of Revlon's creditors. The bank then filed a complaint against an investment fund that refused to pay part of the sum, but the complaint was dismissed in court
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Mumbai, June 17 WhatsApp is adding new features to group calls, including the ability to mute or message specific people.
Previously, users could not mute other users on WhatsApp group calls. The Meta-owned messaging platform is also adding an indicator for users to see when more people join a group call. WhatsApp had recently also enabled the ability for users to create or join groups with a total of up to 512 participants. It is also working on a new feature for a future update, to help manage group requests through a group membership approval option, as per reports. The platform is developing a feature to help group admins manage their groups better, a WABetaInfo report said. When group admins enable the feature, they will need to manually approve all users who wish to join the group by using a group invite link and this event will be displayed in the group chat, as per the report. Group admins can manage all incoming requests for users wanting to join the group from a new section within the group info. They will be required to toggle this feature within group settings in order to enable group requests approval. The group membership approval system is under development for a future update. It was Aug. 16, 1995. “Waterfalls” by TLC was the No. 1 song in the country. Bill Clinton was in the White House. And Microsoft introduced a new way to surf the web: Internet Explorer.
It was buggy and slow, many said. But it was always there. Until it wasn’t. On Wednesday, the web browser, loved and loathed by a generation, was officially retired, swept into the dustbin of internet history. The occasion stirred surprisingly strong feelings of nostalgia for the 1990s and early 2000s, an era when many first came to know the online world through stuttering dial-up connections, chat rooms and long-gone social media sites like Friendster. Now that Internet Explorer is no more, many pined for a time when the little blue icon with the lowercase “e” was their escape route out of childhood bedrooms, college dorm rooms and office cubicles. “Even though I don’t use it anymore, I’m still going to miss the idea of it,” said Brett Babino, 27, an Amazon worker from Port Arthur, Texas, who was 11 when he started using Internet Explorer to do schoolwork and play online games like Club Penguin. Read More : https://www.forbesindia.com/article/news/internet-explorer-is-shutting-down-in-a-burst-of-nostalgia/77379/1 NEW DELHI : Suzlon Energy Ltd has found a new suitor even as a rescue plan of Canada’s Brookfield Asset Management Inc. faltered, said Tulsi Tanti, the founder and chairman of the financially-troubled wind turbine maker.
The lenders’ consortium for Suzlon was earlier working on a resolution plan involving the purchase of a majority stake by Toronto-based asset manager Brookfield. Pune-based Suzlon reported a consolidated net term debt of ₹7,761 crore and a working capital debt of ₹3,380 crore as of March 2019. “We can’t disclose the name as we have signed a confidentiality agreement," Tanti told Mint. Suzlon’s consortium of lenders initiated work on a resolution plan for the firm and one of the rescue plans could involve Brookfield offering to buy a majority stake in the wind turbine maker, Bloomberg reported on 11 July. This comes at a time of a crisis in electricity distribution companies (discoms) because of their poor financial health, which has resulted in delayed payment to generation utilities. The discoms owe ₹76,336 crore for the power bought from the generation companies (gencos) at the end of July, according to information available on the union power ministry’s PRAAPTI portal. This comprised ₹56,710 crore as the overdue amount. Union power minister Raj Kumar Singh is expected to discuss payment security at a two-day conference of state power ministers starting on Friday at Tent City, Narmada, Gujarat. The payment security issue will deal with “timely payment to generators (solar/wind power) by discoms on first in first out (FIFO) basis" and “opening of LCs (letters of credit) by all discoms/distribution licensees for all independent RE (renewable energy) producers", according to the agenda for discussions reviewed by Mint. Read More : https://www.livemint.com/industry/energy/suzlon-energy-has-found-a-new-suitor-says-chairman-tulsi-tanti-11570731215922.html “The business conversations will keep on happening. I feel sorry about the injustice meted to Sailesh. So far I had given another reason for my resignation because I had no control over the circumstances”, Rao told his colleagues in the video.
Rao also questioned the management for not taking a stand in favour of its editors. He also raised questions about the way in which Chaturvedi was solely blamed for the dip in traffic. “At 60 million he (Shailesh) was crowned for his achievements and when the traffic reached 30 million he was told to go. The question is: was he alone responsible for 30 million. There are 20 other people who are accountable for this number. I apologise to Shailesh for not being able to stand for him. I would say, show your editor respect” In his career of over three decades, Rao has worked across all leading media houses like The Times Group, Express Group, Zee News and India Today Group among others. Shailesh Chaturvedi work spans over two decades in news and sports media across some of the most prestigious organisations in print, electronic and digital including Amar Ujala, Hindustan, Sahara Samay and Network 18 among others. Netflix hates it when people share passwords, but there are other things that can get Netflix users banned from the platform. Netflix has zero tolerance towards offenders and if you break the rules set by the streaming giant, you could lose access to your account— or worse, get banned. Netflix recently reported that it lost over 200,000 subscribers. The company is even planning to launch new subscription plans with ads, that would be cheaper than the existing subscription plans. Netflix surely doesn’t want to lose more followers and if you want to protect your Netflix account, you should refrain from doing these three things
Use a VPN If you are alien to the term VPN, let us tell you that it allows users to stay private online. It is primarily used to hide online activity. It can also safeguard your network from cyber criminals and also hide your IP address, browsing activity, and personal data on any Wi-Fi network. Although it is privacy-driven, Netflix does not want its users to browse the app on a VPN network. That is because VPNs trick sites into believing that you are in a different country. This means that you can access TV shows that are not available in your country and Netflix is clearly against the process. Read More : https://www.indiatoday.in/technology/features/story/if-you-do-these-three-things-you-can-get-banned-from-netflix-1963527-2022-06-17 Sri Lanka's economic activity is coming to a near standstill as the island nation, facing its worst financial crisis, runs out of fuel for transport and there's little signs of fresh supplies coming in.
The government declared Friday a holiday for public offices and schools to curtail vehicular movement, leaving many roads in and around the capital Colombo deserted. Meanwhile, thousands of vehicles are lined up in queues stretching for kilometers as drivers wait for filling stations to be replenished. The Minister of Power and Energy Kanchana Wijesekera said on Thursday that the state-run Ceylon Petroleum Corp hadn't received tenders for fresh stocks of fuel because suppliers were deterred by outstanding payments. The South Asian nation has reached out to several companies and countries, including Russia, for supplies and was hoping for the approval from India for a fresh $500 million credit line for fuel imports, Wijesekera said. Sri Lanka's economic meltdown, the most dire in its independent history, has seen protests erupt across the island for the past few months seeking the ouster of President Gotabaya Rajapaksa and his family members from government. The clan has been blamed for taking decisions that have led to severe shortages of everything from fuel to medicine, inflation at nearly 40%, daily power outages of as long as 13 hours and a historic debt default. The nation will need about $6 billion in aid from the International Monetary Fund and countries including India and China, to tide over the next six months, according to Prime Minister Ranil Wickremesinghe. Local authorities are looking to fast-track bailout talks with the IMF in order to get other fresh sources of funding. Sri Lanka's economy likely contracted in the first quarter, slammed by the public protests, political instability, high commodity prices and supply-chain snarls. According to Bloomberg Economics, a recession this year will be unavoidable. In a show of support to Ukraine following its invasion by Russia, the leaders of France, Germany and Italy met President Volodymyr Zelensky on Thursday. This is the first time French President Emmanuel Macron, Germany's Chancellor Olaf Scholz and Italian premier Mario Draghi visited Kyiv after the conflict began this February.
However, this visit by the European leaders has been deemed as an empty gesture by Russian President Vladimir Putin's aide Dmitry A. Medvedev. In a scathing note, Medvedev, the current vice-chairman of Vladimir Putin's Security Council, referred to the French, German and Italian leaders as "European fans of frogs, liverwurst and and spaghetti." Attacking the leaders in the strongly-worded tweet, Mr Medvedev said, "European fans of frogs, liverwurst and spaghetti love visiting Kyiv. With zero use. Promised EU membership and old howitzers to Ukraine, lushed up on gorilka and went home by train, like 100 years ago. All is well. Yet, it won't bring Ukraine closer to peace. The clock's ticking." Previously, Medvedev had accused the US of stoking "disgusting" Russophobia across the world. "It will not work - Russia has the might to put all of our brash enemies in their place," he had said The European leaders' Kyiv visit comes at a time when Ukraine has sought more weapons, even as Russia takes more control over Donbas in southeastern Europe. Later this month, member countries of the European Union are also set to take a decision on Ukraine's EU candidacy in light of the prolonged conflict and the country's continued request to join the economic and political union. In a show of support to Ukraine, the West has been extending military aid to Kyiv. In addition to this, several countries have also issued sanctions on Putin's government and revisited their dependency on Russia Anurag Batra is a serial entrepreneur, media mogul, journalist and lifelong optimist. He holds a B. Tech degree in Computer Sciences before joining the Management Development Institute MD Gurugram, one of the leading business schools in India. He is a first-generation entrepreneur, after acquiring the iconic business media and magazine brand BW Business World, a 35-year strong media brand as well as the most respected business publication in the country.
Anurag Batra doesn’t come from a business family. He considers himself an accidental entrepreneur. He feels a lot of things are God’s wish. In that serendipity, one accidental thing leads to another and there is no grand plan. Studying at MDI was one such gift of God, he says. Anurag Batra believes that life is the preordained product that is already arranged for you. At the age of 18, he would read 3 newspapers, 5 magazines. Anurag Batra considers that his subconscious mind works got him into media and made him a media person. But he feels that it’s all accidental. Once they were in the business then they thought of logical progression of ideas. Other people may ask why don’t you do this and that, it then became a business. Anurag Batra Businessworld claims that he is not in the media business in exchange for media. Rather he is in the business of building communities through digital content through magazines, events etc. The point Anurag is trying to convey is that a lot of it is luck, chance or preordained. It is not known to us that the efforts we make show up when it is needed. If you have good intent God makes the example. Anurag Batra is an entrepreneur of a different flavor. It takes all sorts to make a world, and while most would never confess that entrepreneurship was an all or nothing choice, simply to keep up appearances, Anurag does the opposite. Unpretentious and sincere, this dynamic entrepreneur is a name many will find instantly recognizable, for he is an entrepreneur, media expert and a journalist rolled into one. Anurag Batra has expanded BW Business World into digital, events, and BW communities, and has launched www. Digital market. Asia, a leading digital marketing website, and www.everythingexperiential.com, India’s leading experimental marketing website, and launch BW hotelier in partnership with hotelier international. BW Smart Cities, a 360-degree editorial platform, will be launched in mid-February 2015. Anurag Batra is building the BW Business world business aggressively. Anurag Batra BW also founded the exchange4media group and he serves as the Chairman and Editor-in-Chief of exchange4media group which includes exchange4media.com — India’s leading media industry website, PITCH — India’s only Advertising, Marketing and Media Magazine, IMPACT — The Marketing Weekly, Franchisee Plus — Business Opportunity Magazine, Realty Plus — India’s leading monthly real estate magazine and samachar4media.com— leading media industry website in Hindi. The Government of India has also appointed Anurag Batra as the Chairman of the Industrial Committee constituted to formulate a Vocational Training Framework for the Media, Communications and Entertainment Industries. Anurag Batra is also on the core group of TIE’s (The Indus Entrepreneurs), a special internet group focused on Education and Training. He is also advising the government through his white papers on Internet, Media and Television and their impact on society. He also writes a monthly column on Entrepreneurship, in India’s only Entrepreneurship magazine, Dare. He advises many emerging entrepreneurs and enjoys the reverse mentoring process as he learns from these young entrepreneurs. At BW Business-world, BW Accelerate is an initiative to provide a structured platform for entrepreneurs to guide and grow. 6/4/2022 UN Security Council welcomes Yemen truce extension, urges Houthis to reopen Taiz RoadRead NowNEW YORK: The UN Security Council on Friday welcomed the extension of the truce between the Yemeni government and the Houthis, which was agreed a day earlier.
However, council members expressed concern about grave humanitarian effects of ongoing road closures around Taiz and called on the Iran-backed militia “to act with flexibility in negotiations and immediately open the main roads.” Taiz governorate has been under siege since 2015, when the Houthis closed main routes and encircled the city center, largely cutting it off from the rest of the country. It remains under siege deespite this week’s extension of a truce between the militia and government forces. The council members reiterated their appreciation of the steps taken by all sides to uphold the truce, which began on April 2 and has now been extended for another two months. It has led to “real and tangible benefits” for the Yemeni people, they said, including a significant reduction in civilian casualties and the improved flow of humanitarian aid. In a joint statement, they welcomed the Yemeni government’s flexibility in allowing ships carrying fuel to enter Hodeidah port, and enabling international flights to resume between Sanaa, Amman and Cairo. They also commended regional partners for their support. The council expressed hope that the truce will lead to “a durable ceasefire and an inclusive, comprehensive political settlement, under the auspices of the UN.” Members again emphasized the importance of a minimum of 30 per cent participation by women in decision-making processes in Yemen, in line with the outcomes of the National Dialogue Conference, as enshrined in Security Council Resolution 2624, which was adopted this year. They encouraged all sides in Yemen to continue to engage with the UN’s special envoy for the country and “to negotiate and communicate with each other with a spirit of mutual respect and reconciliation.” The risk of famine is also a great concern, council members said as they encouraged international donors to fully fund the UN humanitarian response to the crisis. They also highlighted the need for “an inclusive, comprehensive political settlement to address the humanitarian and economic crises, and to protect civilians.” 'Dire' situation The spokesperson of the UN Commission on Human Rights also reiterated the commission's repeated request for the reopening of the city, warning that the consequences of the blockade is "dire". “We urge serious efforts to ensure that roads into the city of Taiz are reopened,” UNHCR spokesperson Liz Throssell said on Friday. Residents of Taiz hope UN-sponsored talks in Amman will end in a deal that enables them to go to work and school and facilitate the flow of aid and goods. Mohsen Al-Najdi, 53, who has blood cancer, has to drive more than three hours along narrow mountain roads to receive chemotherapy in Taiz. Before the Houthis encircled the city, the journey from his rural home took less than an hour. “Sometimes I miss appointments because of a flat tire or other problems on the bumpy roads ... since treatment is only available until 2 p.m.,” said Najdi, a teacher. “I wanted to go to Cairo but I don’t have the means ... God’s door is always open so maybe a benefactor will help.” Taiz governorate has a population of 5 million, including 400,000 the city. The Houthis control the governorate’s industrial areas, and the road closures have driven up food and fuel prices and disrupted access to basic services. “The essentials of normal human life are missing in Taiz whether for education or health services. Many people die while traveling the mountain roads,” said local resident Anisa Al-Yousefi. Another Taiz resident, Moham- med Mahrous, has not been able to visit relatives for seven years. “It is depressing living under siege even inside the city, as if you are in a big prison,” he said. |
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