World's richest woman, L'Oréal heiress Liliane Bettencourt dead at 94

Agencies
September 22, 2017

New Delhi, Sept 22: Liliane Bettencourt, the world's richest woman and heiress to the L’Oreal cosmetics fortune passed away at the age of 94.

Confirming the news, her daughter Françoise Bettencourt-Meyers in a statement, said that she died in the early hours of Thursday at her home in Paris.

"She would have been 95 on 21 October," she added. "My mother left peacefully," the Independent UK quoted her saying.

Bettencourt was ranked the richest woman in the world in 2016 by Forbes, with a fortune of $39.5bn (£29bn), which also gave her the status of the 14th richest person in the world.

As per the report in the Independent UK, L'Oréal chairman and CEO Jean-Paul Agon expressed his condolences to the family and said: “We all had a deep admiration for Liliane Betterncourt who has always watched over L'Oréal, the company and its employees, and who was very attached to its success and development.

After leaving the board of the French company in 2012, her public appearances reduced to a large extent, but grabbed headlines after members of her team were charged with exploiting her as her mental health deteriorated.

She had been under the guardianship of family members since the court fight, known as the "Bettencourt affair", ended with a ruling in 2011 that she was incapable of looking after her fortune because she suffered from dementia and had been exploited.

The case - brought by her daughter Françoise and which soured relations between the two - centred on Francois-Marie Banier, a celebrity photographer who befriended Bettencourt in the 1980s and received lavish gifts from her, including life insurance policies worth $400 million.

According to a report, the French celebrity photographer was sentenced to two and a half years.

Another strand of the sprawling affair later led to allegations of illegal payments by Bettencourt to members of the French government associated with former president Nicolas Sarkozy in 2010. Sarkozy was eventually cleared in the case.

L'Oréal was founded by Bettencourt's parents Louise Madelaine Berthe and Eugene Schueller. She was their only child and was born in Paris.

She lost her mother when she was just five-years-old and she joined the family business at the age of 15, before inheriting the L'Oréal empire when her father died in 1957.

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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Agencies
January 20,2020

Washington D.C., Jan 20: An American bride asked for money from her invitees so that they can be on the 'exclusive guest list'.

Weddings can be surely expensive. But is it feasible for one to charge the guests to make up for the expenses?

According to Fox News, that is exactly what happened in a recent American wedding. A 19-year-old shared on Reddit that her cousin was getting married on Sunday and announced that she would charge 50 dollars to those who wanted to attend her wedding.

"She said that they can Venmo her money so there won't be no [sic] problems and everyone who paid will be added onto the 'exclusive guest list' which basically means you won't have to wait in line while other guests pay," wrote the user named DaintySheep.

While she refused to pay for entry into her cousin's wedding the bride-to-be contacted the elders in the family which ended up in an embarrassing situation.

"She wanted to get the money she spent on her special day back. I told her I wouldn't be able to come because this was outrageous and that I wish her well on her special day. She contacted my aunt and my aunt called me cheap and rude. My parents offered to pay for my entry, but I refused," continued the disheartened girl.

While in almost every nook and cranny of the world gifting the bride-groom with money is a tradition, asking for money from friends and family to replenish the money spent on a wedding is can be said to be a rare scenario.

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Agencies
June 9,2020

New Zealand's research institute in Antarctica is scaling back the number of projects planned for the upcoming season, in an effort to keep the continent free of coronavirus, it was reported on Tuesday.

The government agency, Antarctica New Zealand, told the BBC on Tuesday that it was dropping 23 of the 36 research projects.

Only long-term science monitoring, essential operational activity and planned maintenance will go ahead.

The upcoming research season runs from October to March.

"As COVID-19 sweeps the planet, only one continent remains untouched and (we) are focused on keeping it that way," Antarctica New Zealand told the BBC.

The organisation's chief executive Sarah Williamson said the travel limits and a strict managed isolation plan were the key factors for keeping Scott Base - New Zealand's research facility - virus free.

"Antarctica New Zealand is committed to maintaining and enhancing the quality of New Zealand's Antarctic scientific research. However, current circumstances dictate that our ability to support science is extremely limited this season" she said.

Earlier in April, Australia announced that it would scale back its activity in the 2020-21 summer season.

This included decreasing operational capacity and delaying work on some major projects.

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