New York (CNN Business)Victoria's Secret's parent company, L Brands, say it's investigating the business relationship between its CEO, Les Wexner, and Jeffrey Epstein. A new report in the New York Times shows the pair had a closer relationship than Epstein acting as Wexner's personal money manager. Epstein, a longtime associate of Wexner's, is accused of running a sex-trafficking enterprise, in which he paid girls as young as 14 to have sex with him at his Upper East Side home and his estate in Palm Beach, Florida. Prosecutors say he used employees and associates to lure the girls to his residences, and then paid some of his victims to recruit other girls for him to abuse. He has pleaded not guilty. Wexner has not been implicated in Epstein's alleged crimes in any way. When Epstein was arrested earlier this month, Wexner told L Brand employees that he denied knowledge of the illegal activity of which Epstein stands accused. Wexner didn't respond to CNN's request for comment about the … [Read more...] about Jeffrey Epstein’s business relationship with Victoria’s Secret owner Leslie Wexner was far deeper than the CEO let on, New York Times reports
CESC Ltd., the flagship company of the RP-SG Group, has called off its proposal on the demerger of its power business.The group’s power business comprises thermal power plants in West Bengal and Maharashtra, renewable power plants in Tamil Nadu, Rajasthan, Gujarat and Madhya Pradesh, and power distribution franchisees in Rajasthan and Maharashtra. It will make “necessary application to the Kolkata Bench of the National Company Law Tribunal in this regard,” the company said in a regulatory filing. The demerger of the power business was part of a composite scheme of arrangement among CESC and 9 other firms.The scheme was made effective from October 2017, barring the part on the demerger of the generation undertaking into Haldia Energy Ltd., a wholly owned subsidiary. The CESC board at its meeting decided “it would be prudent and in the best interest of the company, its shareholders and other stakeholders to no longer pursue the said demerger,” the company … [Read more...] about CESC calls off demerger of power business
On the eve of its annual conference, the group faces a tough task rebuilding links with No 10 The relationship between Government and the CBI in the immediate aftermath of the 2016 referendum was “wasn’t so much frosty – more downright antagonistic”, according to insiders on the Downing Street side of what has previously been a crucial link between politics and business. The UK’s leading business lobby group claims to speak for 190,000 businesses with seven million staff and, as such, should have an open door to Number 10. But the organisation has not had a good Brexit. It struggled to make itself heard with a prime minister in Theresa May, distinctly cooler on the corporate world than her... … [Read more...] about Can the CBI get over its Brexit sulk and get down to business?
TRUMBULL, CT — A Fairfield man will soon open Trumbull's first live escape game experience. Howard Greenspan plans to open his new business, Escapology Trumbull, next month.The business at 9 Trefoil Drive is taking reservations for as early as Dec. 1. It will offer seven escape rooms, although two will not open until spring, according to press information provided to Patch. Escape room names include Saving Santa, Cuban Crisis and Mansion Murder.Escapology is the world's fastest growing escape room franchise. Players are locked inside a themed room and must complete their mission before time runs out. During the 60-minute experience players are immersed into an adventure where they must find hidden clues, crack codes, solve puzzles and escape.For more information, visit www.escapology.com/en/trumbull-ct.Subscribe … [Read more...] about Escape Room Business Coming To Trumbull
(This article was written when the news of Café Coffee Day founder V.G. Siddhartha's disappearance was reported. The body of Siddhartha was found on the banks of Nethravati river in Mangaluru on July 31, 2019.)The case of V.G. Siddhartha might not be an isolated one, say entrepreneurs who believe that the presence of multiple stakeholders puts a lot of pressure on the businesses and the founders.Entrepreneurs, who have dealt with multiple government agencies, also feel that there are too many government bodies that play an active role in the journey of a company and, more often than not, it only complicates the operations of the company while increasing the compliance costs manifold.“It is not so difficult to relate to [Mr.] Siddhartha. An entrepreneur has to handle various kinds of pressures from multiple stakeholders,” said Manish Kumar, co-founder, GREX, a fund-raising platform for start-ups.“Any company can quickly spiral out of smooth operations if there is … [Read more...] about Not easy to do business in India, say entrepreneurs soon after Siddhartha’s ‘disappearance’