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Richard Branson

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  • Virgin, Stagecoach expand UK rail operation Thursday, 27 Nov 2014 | 6:42 AM ET

    LONDON— Richard Branson's Virgin company will next year play an increased role in train service linking Scotland to London. The British government said Thursday that Virgin Group and the Stagecoach company have been chosen to run the east coast rail franchise starting in March. The two companies already operate the west coast route between London and...

  • UPDATE 2-Virgin America soars in market debut Friday, 14 Nov 2014 | 11:26 AM ET

    Nov 14- Shares of Virgin America Inc, a low-cost airline partly owned by Richard Branson, soared almost 30 percent in their market debut, underscoring the buoyant mood in an industry that is emerging from a long spell of turbulence. At the high, the stock was trading 8.08 times 2013 earnings per share, compared with Southwest Airlines Co's multiple of 37.43 and...

  • UPDATE 1-Virgin America soars in debut Friday, 14 Nov 2014 | 10:33 AM ET

    Nov 14- Shares of Virgin America Inc, a low-cost airline partly owned by Richard Branson, soared as much as 28 percent in their market debut, underscoring the buoyant mood in an industry that is emerging from a long spell of turbulence. Virgin America's shares rose to a high of $29.48 on Friday, valuing the company at about $1.3 billion. Virgin America is the U.S....

  • Virgin America shares jump 24.3 pct in debut Friday, 14 Nov 2014 | 10:08 AM ET

    Nov 14- Shares of Virgin America Inc, a low-cost airline partly owned by Richard Branson, rose as much as 24.3 percent in their trading debut, valuing the company at about $1.24 billion. Virgin America's initial public offering of 13.3 million shares raised about $307 million, with the company retaining a major portion of the proceeds. The offering was priced at...

  • Virgin America shares jump in public-trading debut Friday, 14 Nov 2014 | 9:13 AM ET

    Virgin America made a successful takeoff in its public trading debut Friday. After years of losing money, Virgin America is now profitable. The airline priced the shares at $23, near the middle of its announced range of $21 to $24 each, and raised more than $300 million before expenses.

  • Stocks end mostly up as gains extend into 4th week Friday, 14 Nov 2014 | 12:16 AM ET

    NEW YORK— Stocks ended mostly higher on Friday as major indexes extended gains for a fourth week in a row, a rare stretch for this year. "The market has continued to surprise me with its strength," said Uri Landesman, president of Platinum Partners, an investment fund in New York. Stocks have been mostly rising since Oct. 15, when the S&P 500 nearly fell into a "correction," a...

  • Nov 13- Virgin America Inc's initial public offering was priced at $23 per share, according to an underwriter, valuing the low-cost airline, partly owned by Richard Branson, at $993.6 million. Virgin America is the U.S. offshoot of Branson's London- based Virgin Group, which has a sizeable presence in a number of business across UK including airlines, railways,...

  • Virgin America prices IPO at $23/shr-underwriter Thursday, 13 Nov 2014 | 6:15 PM ET

    Nov 13- Virgin America Inc's initial public offering was priced at $23 per share, according to an underwriter, valuing the low-cost airline, partly owned by Richard Branson, at $993.6 million. The IPO raised about $307 million after it was priced slightly below the expected range of $21- $24 per share. Barclays, BofA Merrill Lynch, Goldman Sachs and Deutsche Bank...

  • NEW YORK, Nov 7- A UK insurer that recently began offering life coverage for would-be space tourists said it has seen no increase in interest in the policy following the fatal crash of a Virgin Galactic test space ship last month. The policy, sold by Pembroke Managing Agency, pays up to $5 million per traveler or $20 million per suborbital space flight, parent...

  • Mark Sirangelo, who leads the space division of privately held Sierra Nevada Corp, told industry executives Thursday that he expected the industry to learn from the accidents and urged a measured response by lawmakers. The U.S. Air Force is also working to certify privately held Space Exploration Technologies, or SpaceX, to launch big military and spy...

  • ABU DHABI, Nov 6- The Abu Dhabi fund which owns a major stake in Virgin Galactic will wait for results of the probe into last week's fatal crash before deciding on its commitment to the project, a source with knowledge of the matter told Reuters on Thursday. The backing of deep-pocketed Aabar Investments, run by the Abu Dhabi government, may be crucial to Virgin...

  • NEW YORK, Nov 5- While private pilots and skydivers have to take out extra life insurance to cover the added risk of their pursuits, space tourists do not need special policies on their high flying rides. That loophole is likely to disappear, slowly, after the fatal crash last week of a test flight of a Virgin Galactic space ship designed to take tourists into space.

  • MOJAVE, Calif., Nov 3- A human-factors expert will join the investigation of the fatal crash of Virgin Galactic's passenger spacecraft to study why the co-pilot prematurely unlocked a pivoting tail section of the ship during a test flight, the National Transportation Safety Board chairman said on Monday. Video footage from the cockpit shows co-pilot Michael...

  • MOJAVE, Calif., Nov 3- A team investigating the fatal test-flight crash of a Virgin Galactic passenger spaceship found that its rotating tail, designed to ease reentry into the atmosphere, was activated prematurely, and said pilot error could not be ruled out. SpaceShipTwo, developed by the fledgling space tourism company of billionaire entrepreneur Richard...

  • CNBC's Jane Wells reports the latest details on the crash of Virgin Galactic SpaceShipTwo spacecraft. Wells says the NTSB may have its first clue as to what caused the breakup.

  • Nov 3- Virgin America Inc, a low-cost airline partly owned by Richard Branson, said its initial public offering is expected to be priced at $21- $24 per share, valuing the company at about $1.04 billion at the top end of the range. Virgin America, known for mood lighting and wi-fi and comfortable leather seats even in economy class, offers flights to 22 cities in the...

  • Nov 3- Virgin America Inc, a low-cost airline partly owned by Richard Branson, said it its initial public offering is expected to be priced at $21- $24 per share, valuing the company at about $1.04 billion at the top end of the range. The company is selling 13.1 million of the 13.3 million shares in the offering, which is expected to raise up to $320.1 million.

  • MOJAVE, Calif., Nov 2- An investigation into the deadly crash of a Virgin Galactic spaceship has found that a function to help the craft descend into the atmosphere was deployed early, a federal safety official said on Sunday, adding pilot error could not be ruled out. The National Transportation Safety Board is leading the investigation into what caused the...

  • MOJAVE, Calif., Nov 2- The investigation into last week's deadly crash of the Virgin Galactic spaceship has found that the "feathering" function to help it descend into the atmosphere from space was deployed early, the National Transportation Safety Board said on Sunday. SpaceShipTwo's rotating tail boom, a key safety feature for re-entering the atmosphere,...

  • MOJAVE, Calif., Nov 2- The head of the federal agency examining last week's fatal crash of a Virgin Galactic passenger spaceship during a test flight in California's Mojave Desert said on Sunday the vehicle appears to have broken apart in flight. Virgin Galactic's owner, British billionaire and entrepreneur Richard Branson, traveled to Mojave on Saturday to...

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