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☆ UK household energy subsidies could hit zero later this year -Cornwall Insight
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

The government has guaranteed to keep average household energy bills below 2,500 pounds ($3,086) a year until the end of April and below 3,000 pounds until March 31, 2024. Following the wholesale price slump analysts at Cornwall Insight forecast average annual energy bills, under a cap set by regulator Ofgem, will fall to around 2,201 pounds a year in July and reach 2,241 pounds a year in October. Prices however remain historically high, meaning consumers are unlikely to feel much better off. "The cap predictions for April remain nearly three times what a typical household was paying pre-pandemic,” Craig Lowrey, Principal Consultant at Cornwall Insight said. ($1 = 0.8102 pounds)Reporting By Susanna Twidale; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Spaceport locals say rocket launch by billionaire Richard Branson boosted their farming community and put the area on the map
▼ + stars: | 2023-01-11 | by ( Kate Duffy | ) www.businessinsider.com time to read: +4 min

Virgin Orbit's rocket broke down, but residents said the launch will put Cornwall on the map. Kate Duffy/InsiderSue and Paul Nuttall, who were looking to retire soon, told Insider that Virgin Orbit's launch was needed to put Cornwall, a farming county, on the map. Hosting Virgin Orbit's launch will hopefully keep children like Seth who are interested in space in Cornwall, Emma said. Virgin Orbit's mission was set to be the UK's first orbital space launch from UK soil. In a press conference on Sunday, Melissa Thorpe, head of Spaceport Cornwall, said she hopes residents feel proud of Cornwall "going to the stars."

☆ Virgin Orbit Satellite Mission Fails, Sending Shares Down
▼ + stars: | 2023-01-10 | by ( Benjamin Katz | ) www.wsj.com time to read: 1 min

A repurposed Virgin Atlantic Boeing 747 aircraft carrying Virgin Orbit’s LauncherOne rocket prepared for take off at Spaceport Cornwall in Newquay, in the U.K., on Monday. LONDON— Virgin Orbit Holdings Inc.’s first effort to send a satellite into space from outside the U.S. failed, marking a blow to billionaire Richard Branson’s ambition to compete in the rapidly growing market for commercial satellite launches. Shares of the company, listed on the Nasdaq exchange, fell more than 20% in off-hours trading on Monday after the company said an anomaly had prevented its satellites from reaching orbit.

☆ Virgin Orbit Fails to Lift Satellite Load Into Orbit From Europe
▼ + stars: | 2023-01-10 | by ( Michael Wright | ) www.wsj.com time to read: +1 min

LONDON—A Virgin Orbit Holdings Inc. rocket carrying satellites from the U.K. failed to reach orbit after it suffered an anomaly over the Atlantic Ocean, a blow to Richard Branson’s ambitions in the growing market for commercial satellite launches. The rocket reached space but experienced an anomaly before it could achieve its target orbit. Cosmic Girl returned safely to Space Cornwall with the flight crew. Shares in Virgin Orbit, which are listed on the Nasdaq stock exchange, fell 21% in off-hours trading after the problem was disclosed. The Start Me Up mission, named after the hit Rolling Stones’ song, marked the first international mission for Virgin Orbit and its first commercial launch from Western Europe.

☆ Virgin Orbit reports ‘anomaly’ in satellite launch from U.K.
▼ + stars: | 2023-01-10 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

A mission to launch the first satellites into orbit from Western Europe suffered an “anomaly” Tuesday, Virgin Orbit said. We are evaluating the information,” Virgin Orbit said on Twitter. Virgin Orbit, which is listed on the NASDAQ stock exchange, was founded by British billionaire Richard Branson. Ian Annett, deputy chief executive at the U.K. Space Agency, said Monday it marked a “new era” for his country’s space industry. The mission was a collaboration between the U.K. Space Agency, the Royal Air Force, Virgin Orbit and Cornwall Council.

☆ Britain's satellite hopes undimmed by mission failure
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Spectators gather around a replica rocket at Cornwall Airport Newquay to watch the first ever UK launch of Virgin Orbit's LauncherOne rocket from Spaceport Cornwall in Newquay, Britain, January 9, 2023. REUTERS/Henry NichollsLONDON, Jan 10 (Reuters) - Britain's hopes of becoming a leading destination for the launch of small satellites remain intact despite the failure of the first mission, the country's business minister Grant Shapps said on Tuesday. Hours after the plan to launch nine satellites ended when Virgin Orbit's (VORB.O) rocket suffered an anomaly which prevented it from reaching orbit, Shapps said another attempt would follow. The rocket was successfully released over the Atlantic from a Boeing 747 that took off from Newquay airport in western England. For Virgin Orbit, part-owned by British billionaire Richard Branson, it is the second failure since its first launch in 2020.

☆ Richard Branson's Virgin Orbit says its rocket suffered an 'anomaly,' stopping it from taking 9 satellites to orbit
▼ + stars: | 2023-01-10 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Virgin Orbit said it has experienced an "anomaly" with its rocket during a UK space mission. The "Start Me Up" satellite mission was scheduled for Monday from Spaceport Cornwall at Cornwall Airport Newquay in southern England. About half an hour later, Virgin Orbit tweeted: "We appear to have an anomaly that has prevented us from reaching orbit. Richard Branson's company previously wrote on Twitter that its LauncherOne rocket had successfully reached orbit, but later tweeted that didn't happen and it would remove the post. Matt Archer, commercial space director at the UK Space Agency, told reporters on Monday that he was "disappointed, but proud of what we've achieved."

☆ Virgin Orbit just launched a rocket that failed to reach orbit. Take a look at what happened.
▼ + stars: | 2023-01-10 | by ( Kate Duffy | ) www.businessinsider.com time to read: 1 min

When the rocket is released from Cosmic Girl at an altitude of 35,000 feet, its engines are designed to accelerate it into orbit. But this didn't happen on Monday at Spaceport Cornwall in southern England. A general view of Cosmic Girl, a repurposed Boeing 747 aircraft carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, United Kingdom. Matthew Horwood/Getty Images

☆ English resort counts down to western Europe’s first satellite launch
▼ + stars: | 2023-01-09 | by ( ) www.nbcnews.com time to read: +4 min

NEWQUAY, England, — An English surfing resort was counting down to the first launch of orbital satellites into space from western Europe on Monday, when Virgin Orbit’s mission will transform the Cornish town of Newquay into the country’s first spaceport. The “horizontal” launch will catapult the resort in southwest England, population 20,000 and famous for its reliable waves rolling off the Atlantic, into the limelight as western Europe’s go-to destination for small satellites. Virgin Orbit, part-owned by billionaire Richard Branson, said nine satellites would be deployed into lower Earth orbit (LEO) from its LauncherOne rocket in its first mission outside its United States base. “Assuming that everything continues to look good we’re currently tracking well for launch,” a Virgin Orbit spokeswoman said on Sunday. The LEO sector is growing rapidly, spurred by satellite broadband companies such as Elon Musk’s Starlink, Amazon and London-headquartered OneWeb.

☆ Virgin Orbit stock plummets after failure of its first UK rocket launch
▼ + stars: | 2023-01-09 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

Virgin Orbit stock fell in trading on Monday evening, after the company confirmed that its first launch out of the United Kingdom failed to reach orbit. Shares of Virgin Orbit fell as much as 30% in after-hours trading, from its previous close of $1.93 a share. Virgin Orbit's webcast showed its LauncherOne rocket released and fired its engine, with the company saying in a tweet that the rocket "successfully reached Earth orbit." Virgin Orbit is reviewing the launch data to identify the source of the failure, and acknowledged that it deleted the tweet about reaching orbit. Monday's mission was Virgin Orbit's sixth to date, and its second launch failure.

☆ English resort counts down to western Europe's first satellite launch
▼ + stars: | 2023-01-09 | by ( Henry Nicholls | ) www.reuters.com time to read: +4 min

REUTERS/Henry NichollsNEWQUAY, England, Jan 9 (Reuters) - An English surfing resort was counting down to the first launch of orbital satellites into space from western Europe on Monday, when Virgin Orbit's mission will transform the Cornish town of Newquay into the country's first spaceport. The "horizontal" launch will catapult the resort in southwest England, population 20,000 and famous for its reliable waves rolling off the Atlantic, into the limelight as western Europe's go-to destination for small satellites. The European Space Agency's (ESA) Ariane 6 rocket, designed to carry large satellites, has also had delays. "Assuming that everything continues to look good we're currently tracking well for launch," a Virgin Orbit spokeswoman said on Sunday. The LEO sector is growing rapidly, spurred by satellite broadband companies such as Elon Musk's Starlink, Amazon and London-headquartered OneWeb.

☆ Western Europe's first satellite launch mission takes off
▼ + stars: | 2023-01-09 | by ( Paul Sandle | ) www.reuters.com time to read: +1 min

[1/6] Technicians work on Virgin Orbit's LauncherOne rocket, attached to the wing of Cosmic Girl, a Boeing 747-400 aircraft, ahead of UK's First launch, at Spaceport Cornwall at Newquay Airport in Newquay, Britain, January 8, 2023. REUTERS/Henry NichollsSummarySummary Companies Converted Boeing 747 takes off from Newquay, CornwallRocket will be deployed over the Atlantic in next hour'Start Me Up' mission will deploy nine small satellitesNEWQUAY, England, Jan 9 (Reuters) - Virgin Orbit's "Cosmic Girl" carrier aircraft took off from Newquay's spaceport in Cornwall, southwest England on Monday night, the initial stage of Western Europe's first ever satellite launch. More than 2,000 space fans cheered when the aircraft left the runway. The "horizontal" launch has catapulted the resort in southwest England - population 20,000 and famous for its reliable Atlantic waves - into the limelight as Western Europe's go-to destination for small satellites. ($1 = 0.8213 pounds)Additional reporting by Sarah Young; editing by Nick Macfie and Sandra Maler, Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ The first ever orbital space launch from the UK is due to take off on Monday
▼ + stars: | 2023-01-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The modified Boeing 747 plane, named "Cosmic Girl", will take off from Spaceport Cornwall in southwest England. LONDON — The first orbital rocket launch in Western Europe is set to take place in the U.K. on Monday evening. Virgin Orbit had lowered its forecast for launches in 2022 to three, having initially expected to make between four and six earlier in the year. On announcing its third-quarter results for 2022 in November, Virgin Orbit also said it raised $25 million to boost its depleting cash reserve. Shares of Virgin Orbit hit a three-week high Friday, trading at $2.11.

☆ Virgin Orbit counts down to first space launch ever from UK soil
▼ + stars: | 2023-01-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Virgin Orbit is about to conduct the first ever space launch from the United Kingdom. It will also mark the first launch of commercial satellites from western Europe, and the first international launch for Virgin Orbit. Dan Hart, chief executive of Virgin Orbit, described the UK mission as a “historic endeavor.”“This launch represents the opening of a new era in the British space industry and new partnerships across industry, government, and allies,” he said in a statement released Friday. The mission, named “Start Me Up” after the Rolling Stones’ 1981 song, is a joint venture between Virgin Orbit, the UK Space Agency, Cornwall’s local government and the UK’s Royal Air Force. The country’s £16.5 billion ($20 billion) space industry directly supported about 47,000 jobs between 2019 and 2020, according to the latest available government figures.

☆ Richard Branson's Virgin Orbit is set to launch the first orbital rocket from UK soil on Monday. Watch live as the rocket drops from a Boeing 747.
▼ + stars: | 2023-01-09 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Richard Branson's Virgin Orbit is set to launch the first orbital space rocket from British soil. Virgin Orbit CEO Dan Hart said the crew will proceed cautiously in case winds or lightning set in. Watch the historic rocket launch live on Virgin Orbit's YouTube page below. Livestream: Watch Virgin Orbit's Cosmic Girl take off and release the rocketWatch the historical rocket launch live on Virgin Orbit's YouTube livestream below, starting at 4:30 p.m. Cosmic Girl, a repurposed Virgin Atlantic Boeing 747-400 aircraft, is expected to take off from Spaceport Cornwall between 5:16 p.m.

☆ Virgin Orbit: The UK just took a step closer to space flight
▼ + stars: | 2022-12-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The United Kingdom is one step closer to conducting its first ever satellite launch from its own shores. The UK Civil Aviation Authority (CAA), a regulatory body, said on Wednesday that it had granted the final licenses to Virgin Orbit to carry out the launch. The company has already conducted four successful satellite launch missions in this way from California. “Today we are one step closer to opening the UK’s galactic gateway, with Virgin Orbit receiving an historic first license to allow the UK’s first ever spaceflight launch,” UK transport secretary Mark Harper said in a statement on Wednesday. The CAA said it granted Virgin Orbit the final remaining licenses after it met all necessary safety, security and environmental tests.

☆ Richard Branson's Virgin Orbit gets green light for first orbital space launch from UK — and will use a repurposed Boeing 747 for the mission
▼ + stars: | 2022-12-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Richard Branson's Virgin Orbit gained a license for the first orbital space launch from the UK. The Civil Aviation Authority (CAA), the UK's space regulator, announced in a statement on Wednesday that Virgin Orbit was permitted to launch from Spaceport Cornwall in southern England. Issuing the final license to Virgin Orbit for the UK's first orbital satellite launch was another "major milestone," the CAA said in the statement. Virgin Orbit didn't respond to Insider's request for comment about the new launch date. Virgin Orbit has named the mission "Start Me Up" after a song by The Rolling Stones.

☆ UK's Hunt says average household energy bill to rise, keeps cap
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Providing details on what will happen to annual energy bills from next April, he said they would rise by about 500 pounds. "From April, we will continue the Energy Price Guarantee for a further 12 months at a higher level of 3,000 pounds per year for the average household," Hunt told parliament on Thursday. Without the price guarantee, household gas and electricity bills were expected to rise to 3,739 pounds a year from next April based on average energy use, according to analysts at Cornwall Insight. The "Energy Price Guarantee" will be kept under review and the government could revisit the scheme's parameters if the forecast cost rises significantly, it added. After April 2024, the government plans to develop a new approach to protecting consumers from energy price rises, it said.

☆ Britain issues first spaceport licence ahead of maiden satellite launch
▼ + stars: | 2022-11-16 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

LONDON, Nov 16 (Reuters) - Britain issued its first spaceport licence on Wednesday, paving the way for the country's maiden satellite launch later this year as it looks to become Europe's leading space industry player. The licence was issued to Spaceport Cornwall. The first UK launch is expected before the end of the year, the UK Space Agency's deputy chief executive, Ian Annett, said in a CAA statement. Virgin Orbit plans to use a modified Boeing 747 with a rocket attached under its wing. The CAA said Spaceport Cornwall had demonstrated it had met the appropriate safety, security and environmental requirements to become a spaceport.

☆ Real-estate investors rush to score deep discounts on Florida properties hammered by Hurricane Ian: 'If they were asking $1 million before the storm, I'll offer $750,000'
▼ + stars: | 2022-10-20 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +3 min

Real-estate investors are trying to take advantage of the down market by buying properties for less. They seem undeterred by high insurance costs, possibly falling home values, and ever-worse storms. The real-estate market in Florida just doesn't stop. "If they were asking $1 million before the storm, I'll offer $750,000," Lema told The Wall Street Journal. Photo by Ricardo Arduengo/AFP via Getty ImagesStill, it seems many buyers are undeterred by or unaware of insurance costs, future home-value depreciation, and the risk of ever-stronger hurricanes and rising sea levels.

☆ Britain's failed tax experiment will leave economic scars and credibility issues, analysts say
▼ + stars: | 2022-10-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

U.K. Prime Minister Liz Truss faces increasing pressure to resign. The yield on these bonds, which reflect the cost of borrowing for the government and influence interest rates on many products such as mortgages, eased lower after the statement Monday. The yield on 10-year bonds, the closely-watched benchmark seen as the indicator of long-term interest rates, remains significantly elevated at 4.045%, up from 3.49% before the budget. Bonds tend to become less attractive when interest rates rise, decreasing their price and sending up the yield. watch nowWider effectsWith the ideologically-driven policy platform Truss ran on now dead in the water, there is uncertainty in many other areas.

☆ Virgin Orbit to launch first satellite in Europe within six weeks - Branson
▼ + stars: | 2022-10-18 | by ( Juliette Portala | ) www.reuters.com time to read: 1 min

MILAN, Oct 18 (Reuters) - Richard Branson's small satellite service provider Virgin Orbit Holdings Inc (VORB.O) will be doing its first launch from European soil within the next six weeks, its founder said on Tuesday. "Virgin Orbit can launch satellites into space from anywhere in the world into any orbit at a days notice," Branson said during a press conference in Milan. "We are doing the first launch from European soil into space within the next six weeks ... from Cornwall," he added. Founded by Branson back in 2017, the company began commercial service in 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elisa Anzolin; writing by Agnieszka Flak, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ Beware, Florida homeowners. The worst is yet to come.
▼ + stars: | 2022-10-06 | by ( Dan Latu | James Rodriguez | ) www.businessinsider.com time to read: +10 min

They were paying $750 a month for the lot in a mobile-home park and couldn't fathom paying $7,200 a year for homeowners insurance, let alone additional protections for floods. (Flood insurance costs an average of more than $600 a year in Florida and can stretch even higher in high-risk areas.) But just 57% of those homes are covered by flood insurance, a Bank of America analysis of data from CoreLogic and the National Flood Insurance Program found. Some owners may not even know that they need a separate insurance policy for flooding, assuming it's covered by their homeowners insurance. Roughly a dozen firms that provide homeowners insurance in Florida have gone under in the past two years, The Washington Post reported.

☆ These savvy homeowners are cutting their energy bills by installing solar panels
▼ + stars: | 2022-10-02 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Many households are facing soaring energy bills this winter even with price caps or subsidies. Some people are installing solar panels on their roofs to help bring down costs. The solar panels generate energy even when it is cloudy or raining, he said, and it will be his first winter using them. John Reader, 74, from Cornwall, says it cost close to £7,000 ($7,800) to get 16 solar panels installed on his house. The amount of electricity the solar panels produce varies from between seven to more than 30, depending on how sunny it is.

☆ 'Big Short' analyst says Florida home values could drop as much as 50% in some areas when markets factor in flood and storm costs from disasters like Hurricane Ian
▼ + stars: | 2022-10-01 | by ( James Rodriguez | ) www.businessinsider.com time to read: +4 min

Floridians aren't paying enough for flood insurance, according to an analysis by DeltaTerra Capital. Home prices in some parts could fall by 50% when buyers realize the true costs of flood protection. Hurricane Ian left a trail of destruction across Florida, but the state's housing market has yet to feel the brunt of its impact. That's because flood insurance is poised to get much more expensive in high-risk areas as a result of Risk Rating 2.0 , the Federal Emergency Management Agency's updated method of pricing flooding risk for insurance policies held through the National Flood Insurance Program. It's not just a matter of how hurricane damage will affect a regional market, Burt said.

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