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Billionaires Richard Branson

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  • CAPE CANAVERAL, Fla., July 28- Federal investigators cited inadequate training of test pilots by a Northrup Grumman Corp subsidiary on Tuesday as a leading factor behind last year's fatal crash of an experimental Virgin Galactic passenger spaceship over the Mojave Desert. The premature unlocking of the hinged tail section on Virgin Galactic's SpaceShipTwo...

  • CAPE CANAVERAL, Fla., July 28- Test pilots at the helm of a Virgin Galactic passenger spaceship that crashed last year were unaware of the catastrophic consequences of unlocking the craft's moveable tail section too early because of poor training, investigators probing the fatal accident said on Tuesday. The premature unlocking of SpaceShipTwo's hinged tail...

  • NTSB: Company should have prepared for human error Tuesday, 28 Jul 2015 | 3:21 AM ET

    In its finding, the board took pains to make clear that Scaled Composites, an aerospace company that has partnered with Virgin Galactic to develop the spacecraft, should have had systems in place to overcome the co-pilot's mistake. The Federal Aviation Administration was also faulted in its role of determining whether Scaled Composites should get permits...

  • ABUJA, July 1- Nigeria should merge its debt-laden airlines and create a national carrier in partnership with a global airline to boost revenue and create jobs, a ruling party strategy report seen by Reuters on Wednesday shows. Muhammadu Buhari, who was sworn in as president of Africa's top oil producer and biggest economy on May 29, is considering...

  • LONDON, June 28- A British exit from the European Union would set the country back half a century and be catastrophic for its trade and economic prospects, billionaire entrepreneur Richard Branson said on Sunday. Branson, whose Virgin Group empire ranges from airlines to banking and space travel, was speaking after Prime Minister David Cameron told EU leaders...

  • The fund-raising attracted backing from Richard Branson's Virgin Group and Europe's Airbus Group, which will also build 900 "micro-satellites" designed to extend the reach of the Internet to remote corners of the world. The company, based in Britain's Channel Islands, plans over 65 launches including 39 from Virgin's spaceflight company, Virgin Galactic, and...

  • CAPE CANAVERAL, Fla., June 25- Privately owned OneWeb, which plans to sell Internet services via satellite, signed contracts with launch service providers Virgin Galactic and Arianespace SA for 60 flights, OneWeb said on Thursday. OneWeb, based in Britain's Channel Islands, also said it has raised $500 million from a consortium of companies, including Europe's...

  • *Group of eight investors include Virgin, Airbus, Bharti. OneWeb, whose backers include Richard Branson's Virgin Group and Indian billionaire Sunil Mittal's Bharti Enterprises, said it would use the funds to acquire 65 commercial rockets to launch satellite-borne Internet services to extend the reach of mobile operators to customers in remote corners of...

  • LONDON, June 25- Business chiefs from companies including BT, easyJet and a local cider maker called on Prime Minister David Cameron to keep Britain in the European Union as he prepared to ask EU leaders for a new deal. A Eurosceptic group published a report this week arguing that Britain could prosper outside the EU, which Britain joined in 1973..

  • MIAMI, June 23- Richard Branson's Virgin Cruises will take delivery of three ships capable of carrying nearly 3,000 passengers each starting in early 2020, the British entrepreneur told reporters during a news conference on Tuesday. Virgin Group announced the Bain Capital- backed project last December. "We go against the grain," said Virgin Cruises Chief...

  • CAPE CANAVERAL, Fla. June 15- Europe's Airbus Group will design and build about 900 satellites for privately owned OneWeb Ltd, which plans to offer high-speed, space-based Internet access to billions of people worldwide, company officials said on Monday. Bankrolled in part by Richard Branson's London- based Virgin Group and chipmaker Qualcomm Inc, the project...

  • When having a big ego can change the world Saturday, 6 Jun 2015 | 12:00 PM ET
    Elon Musk, CEO of Tesla.

    The CEOs of Tesla and Facebook are examples of men possessed with large enough egos that they've carved out their own category of leadership.

  • UPDATE 1-Virgin America pilots vote for unionization Thursday, 4 Jun 2015 | 6:01 PM ET

    June 4- Virgin America Inc said a majority of its pilots voted to be represented by the world's largest pilot union, ending its run as the last major U.S. carrier without collective representation for pilots. "The organizing effort was not unexpected, as Virgin America was the last remaining major U.S. airline without a unionized pilot group," Virgin America said in...

  • Virgin Group names leader of 'Sport' Tuesday, 12 May 2015 | 4:24 PM ET
    Mary Wittenberg and Richard Branson to launch Virgin Sport.

    Mary Wittenberg of NYRR will join Virgin Sport, a branch of Virgin Group that aims to grow participation in running and cycling events.

  • April 30- Budget airline Virgin America Inc is moving to finance five aircraft before interest rates rise, Chief Financial Officer Peter Hunt said in an interview Thursday. Virgin America recently announced it has financed about 80 percent of the purchase price of five other A320 aircraft scheduled for delivery this year. It had an initial public offering in...

  • JOHANNESBURG, April 16- South African investment house Brait SE is to pay $1 billion for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia. The fitness chain, jointly owned by the Virgin Group of entrepreneur Richard Branson and buyout firm CVC...

  • The fitness chain, jointly owned by the Virgin Group of entrepreneur Richard Branson and buyout firm CVC Capital Partners, has 267 gyms across nine countries including South Africa, home to the largest number of Virgin Active clubs, Thailand and Britain. Brait has proposed to take an 80 percent stake in Virgin Active for 682 million pounds, valuing the gym chain...

  • London stakes its claim as global bitcoin hub Wednesday, 15 Apr 2015 | 6:57 PM ET
    Bitcoins

    London, center of the $5-trillion-a-day global currency market, now wants to be home to a controversial upstart - bitcoin.

  • INSIGHT-London stakes its claim as global bitcoin hub Wednesday, 15 Apr 2015 | 12:33 PM ET

    *Bitcoin backers say UK attitude makes London attractive. *World's biggest bitcoin networking group is London- based. LONDON, April 15- London, centre of the $5- trillion- a-day global currency market, now wants to be home to a controversial upstart- bitcoin.

  • MIAMI, March 11- The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line. Virgin Group announced the Bain Capital- backed cruise line project last December. As CEO of the new Virgin...

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