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☆ Amazon launches first internet satellite prototypes
▼ + stars: | 2023-10-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Even ULA's details about the launch are limited, with the info provided comparable to when the rocket company flies classified spy satellites for the U.S. government. watch nowLast year, Amazon announced the biggest corporate rocket deal in the industry's history to launch Kuiper satellites, signing launch contracts with ULA, Arianespace, and Jeff Bezos' Blue Origin. As part of that deal, Amazon expects to pay about $7.4 billion for Kuiper launches over the next five years. Amazon is playing catch up to SpaceX, which has grown its Starlink satellite internet service to more than 2 million customers. This year Amazon revealed a trio of satellite antennas that it plans to sell to Kuiper customers.

Persons: Paul Hennessey, Jeff Bezos, Elon Musk Organizations: Alliance, V, Cape Canaveral Space Force, Anadolu Agency, Getty, United, U.S ., Amazon, Kuiper, SpaceX, Elon, Seattle – Locations: Cape Canaveral , Florida, United States, Florida, ULA, Seattle, Washington, Redmond, Kirkland, San Diego, Austin , Texas , New York City

☆ Amazon switches rockets for first test satellites to avoid launch delay
▼ + stars: | 2023-08-10 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. Amazon last year announced plans to launch the satellite pair aboard the first flight of ULA's new Vulcan rocket, moving them off previously planned rockets from launch startup ABL Space to avoid delays in ABL's rocket development. But delays with Vulcan have prompted Amazon to again switch rides as the e-commerce giant faces a 2026 regulatory deadline to deploy half of the 3,200 satellites planned for its Kuiper internet network. ULA in 2021 stopped selling the Atlas V and has 19 more missions to fly before the rocket retires, ULA spokeswoman Jessica Rye said. It was unclear whether the Atlas V launch planned for September counts as one of the nine that Amazon previously procured.

Persons: Pascal, James Watkins, ULA, Jessica Rye, Joey Roulette, Leslie Adler, Aurora Ellis Organizations: REUTERS, Amazon.com Inc, Boeing, Lockheed, United Launch, Amazon, Vulcan, Elon Musk's SpaceX, Atlas V, NASA, Atlas, Thomson Locations: Lauwin, France, U.S, ULA

☆ Amazon switches rockets for first test satellites to expedite launch
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +1 min

An artist's rendering of the Project Kuiper satellite processing facility in Florida. Amazon.com Inc plans to launch its first pair of prototype internet satellites late next month on a different rocket than previously planned, a spokesman said on Monday, again switching rides for the spacecraft to avoid mounting rocket delays. The company will launch the two satellites, the first in Amazon's Kuiper program to offer internet globally from space, aboard a dedicated Atlas V rocket from the Boeing -Lockheed , joint venture United Launch Alliance, spokesman James Watkins said. Amazon last year announced plans to launch the satellite pair aboard the first flight of ULA's new Vulcan rocket, moving them off previously planned rockets from launch startup ABL Space to avoid delays in ABL's rocket development. But delays with Vulcan have prompted Amazon to again switch rides.

Persons: James Watkins, ULA Organizations: Inc, Boeing, Lockheed, United Launch Alliance, Amazon, Vulcan Locations: Florida

☆ Amazon switches rockets for first test satellites for sooner launch
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. The company will launch the two satellites, the first in Amazon's Kuiper program to offer internet globally from space, aboard a dedicated Atlas V rocket from the Boeing-Lockheed (BA.N), (LMT.N) joint venture United Launch Alliance, spokesman James Watkins said. Amazon last year announced plans to launch the satellite pair aboard the first flight of ULA's new Vulcan rocket, moving them off previously planned rockets from launch startup ABL Space to avoid delays in ABL's rocket development. But delays with Vulcan have prompted Amazon to again switch rides. Reporting by Joey Roulette; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Pascal, James Watkins, ULA, Joey Roulette, Leslie Adler Organizations: REUTERS, Amazon.com Inc, Boeing, Lockheed, United Launch Alliance, Amazon, Vulcan, Thomson Locations: Lauwin, France

☆ Investing in Space: Launch jitters
▼ + stars: | 2023-03-09 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Even today's private U.S. launch leaders, SpaceX and Rocket Lab , had their share of failures when first gunning for orbit. "In a launch vehicle, you have lots of different complex systems … and traditionally, we've been talking about expendable launch vehicles. "We're finally transitioning to a reusable launch vehicle mentality, and I think you're going to see more and more of that kind of testing," Nield said. But even with one-off rockets, Nield remains "very bullish" on the launch market.

☆ Lebanon banks 'have no liquidity,' says banking association's secretary general
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: 1 min

BEIRUT, March 8 (Reuters) - Lebanon's commercial banks do not have enough liquidity to pay back depositors, the secretary general of the country's banking association said on Wednesday in a letter that laid out the banks' positions. The letter was signed by the Association of the Banks of Lebanon (ABL)'s Fadi Khalaf and served as the introduction to the ABL's monthly report. The letter said commercial banks had approximately $86.6 billion deposited at Lebanon's Central Bank as of mid-February, and a net negative position with correspondent banks of $204 million as of Jan. 31, 2023. "These numbers show without a doubt that the banks have no liquidity," Khalaf wrote. Reporting by Maya Gebeily Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

☆ Space Force is taking a 'mutual fund approach' to buying rocket launches
▼ + stars: | 2023-02-24 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

Earlier this month the Space Force kicked off the process to buy five years worth of launches, under a lucrative program known as National Security Space Launch Phase 3. The U.S. military is preparing to buy another round of rocket launches from companies next year, and Space Force leadership says they're taking a new "mutual fund approach" to the acquisition strategy. But, with a number of companies bringing rockets to market, Space Force is splitting NSSL Phase 3 into two groups for about 70 launches. Space Force leadership named several companies that can now compete in the dual-track process, including Rocket Lab , Relativity and ABL Space. Separately, Space Force is closely watching the growing demand for commercial launches.

☆ Bed Bath & Beyond moves to raise $1 bln as bankruptcy clouds loom
▼ + stars: | 2023-02-06 | by ( Noor Zainab Hussain | ) www.reuters.com time to read: +2 min

Feb 6 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants, in a last-ditch effort to stave off bankruptcy. Bed Bath said it was planning to raise about $225 million through an offering of Series A convertible preferred stock and an additional $800 million by issuing securities to buy shares of preferred stock in future installments. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. On Monday, Bed Bath said it planned to close an additional 150 stores, on top of 250 previously announced store closures. Sources have told Reuters that Bed Bath & Beyond has lined up liquidators to close additional stores unless a last-minute buyer emerges.

☆ Rocket builder ABL's inaugural launch fails shortly after liftoff, damages launch pad
▼ + stars: | 2023-01-11 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

The company's RS1 rocket lifts off on its inaugural launch attempt from Kodiak, Alaska on Jan. 10, 2023. The first mission by ABL Space got off the ground on Tuesday, but the company's RS1 rocket suffered an issue early in the flight that caused it to fail shortly after lifting off. ABL President Dan Piemont told CNBC that the RS1 rocket stayed within the predefined "acceptable flight corridor" during the short launch, but after the rocket's engines shut down the vehicle "impacted directly on the launch pad," causing damage. ABL's RS1 rocket stands about 90 feet tall, and is designed to launch as much as 1,350 kilograms (or nearly 1.5 tons) of payload to low Earth orbit — at a cost of $12 million per launch. That puts RS1 in the middle of the commercial launch market, between Rocket Lab's smaller Electron and SpaceX's heavy class Falcon 9.

☆ Rocket start-up fails attempt to launch satellites off Alaska’s coast
▼ + stars: | 2023-01-10 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

CNN —A rocket operated by a California-based start-up failed near the coast of Alaska Tuesday, marking yet another mishap for companies hoping to offer their services to launch scores of small satellites into orbit. The privately held ABL Space Systems attempted to launch its RS1 rocket at 1:27 p.m. local time (5:27 p.m. “Thanks to all for the support.”The mission was aiming to carry two small satellites to orbit for OmniTeq, which recently spun off its space division. Those companies may soon be joined by yet another start-up, Relativity, which currently has its first rocket poised at a launch site in Florida. The failed ABL launch Monday comes after the first few attempts to get its RS1 rocket off the ground in December came up short.

☆ Investing in Space: Temper your expectations
▼ + stars: | 2022-12-08 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. One that repeatedly comes up is the need for tempered expectations when it comes to schedule targets across the industry. Take, for example, an unabashed thread by ABL Space on its progress toward the debut launch of its RS1 rocket. Company leadership should be ambitious and optimistic about deadlines – but expectations need to be managed clearly and realistically, as well. The best space companies set targets that are achievable, and keep cushion on their balance sheet for when they aren't.

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☆ United Rentals to acquire Ahern Rentals for $2 billion
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - United Rentals Inc (URI.N) said on Monday it will acquire the assets of smaller rival Ahern Rentals Inc in an all-cash deal for about $2 billion, as the equipment rental firm looks to expand its U.S. presence. Ahern was founded in 1953 and is a family-owned equipment rental firm with about 2,100 employees. It operates across 106 locations in 30 U.S. states, with a rental fleet that consists of aerial lifts. Sullivan & Cromwell LLP acted as legal advisor to United. Reporting by Nathan Gomes and Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon will open 172,000-square-foot Project Kuiper internet satellite factory
▼ + stars: | 2022-10-27 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

Amazon said Thursday it will open a new plant in a Seattle suburb to build satellites for Project Kuiper. Unveiled in 2019, Project Kuiper, is Amazon's plan to build a network of 3,236 satellites in low Earth orbit to provide high-speed broadband internet. Amazon notched a key milestone in 2020 when the Federal Communications Commission authorized the satellite internet system. Amazon has said it plans to invest more than $10 billion into building Project Kuiper, and it already has a 219,000-square-foot research and development facility based in Redmond, Washington. WATCH: How Amazon's Project Kuiper is taking on SpaceX's Starlink satellite internet

☆ Amazon is switching the rockets used to launch the first 2 of more than 3,000 satellites, delaying lift-off until 2023
▼ + stars: | 2022-10-13 | by ( Stephen Jones | ) www.businessinsider.com time to read: +2 min

Amazon is switching the rockets used to carry the first of its two Project Kuiper satellites. Amazon originally scheduled the launch for late 2022 but said lift-off will now be in early 2023. A rival to SpaceX's Starlink, Project Kuiper is Amazon's project that involves building a network of more than 3,200 low-orbit satellites to provide a global broadband network. The two prototype satellites will be used to run tests, ahead of the first commercial launches of Amazon's production version of the satellites. ABL president, Dan Piemont, told CNBC on Wednesday, that the company finished work on a custom spacecraft for Project Kuiper earlier this year.

☆ Amazon shifts prototype internet satellites to ULA rocket for 2023 launch
▼ + stars: | 2022-10-12 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 12 (Reuters) - Amazon (AMZN.O) will launch its first two prototype satellites for a planned internet-from-space constellation in early 2023 using a new rocket from the Boeing-Lockheed (BA.N)(LMT.N) joint venture United Launch Alliance, the companies said Wednesday. Rocket development delays with launch startup ABL Space Systems, which was initially poised to launch the two Amazon satellites by late this year, prompted Amazon to hop aboard ULA's new Vulcan rocket instead as a secondary payload. Amazon has not said when it plans to launch those first operational satellites. ABL built a custom launch adapter and finished other custom work for the Kuiper satellites earlier this year, the company's president Dan Piemont told Reuters in an email. "That work is continuing for future Kuiper launches," he added.

☆ Amazon changes rockets for launch of prototype Kuiper internet satellites, pushing mission to 2023
▼ + stars: | 2022-10-12 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

From left: Artist renderings of the launches of an RS1 rocket and a Vulcan rocket. Amazon is swapping rides for the first prototype satellites for its Project Kuiper internet network, the company announced on Wednesday, a move that delays launching the pair of spacecraft to early next year. Instead, the Amazon satellites will hitch a ride on the first launch of ULA's Vulcan, which is planned for the first quarter. Amazon isn't ditching ABL entirely, however, saying it plans to retain two launches with the rocket company for future missions. He also emphasized that ABL has a backlog of missions from customers including the U.S. Space Force and Lockheed Martin.

On Wednesday, OPEC+, the oil cartel led by Saudi Arabia and Russia, agreed to slash production by 2 million barrels per day, twice as much as analysts had predicted, in the biggest cut since the Covid-19 pandemic. “Saudi Arabia is looking to head off a repeat of 2008 when the market crash sent the global economy into a recession and oil prices suddenly plummeted, requiring emergency action by OPEC,” said Wald. Analysts also say Saudi Arabia cannot afford to let oil prices go below a certain level for budgetary reasons. For its budget to break even, global oil prices must be at around $79 a barrel, according to the International Monetary Fund. That was a warning sign for Saudi Arabia and other oil exporters, who depend on oil for a majority of their revenue.

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