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☆ Here's what I want to see before buying in a stock market that stumbled on solid bank earnings
▼ + stars: | 2023-04-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I do not understand how it could be double the price of the stock when the TVB means that if you closed the bank that's what you would get. I know the stock of Wells Fargo (WFC) didn't do much after it reported. Now, I offer the story of these banks as a preamble to what I see happening in the stock market right now. I don't want to conflate a day of good bank earnings with a month of good stock prices. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ SpaceX gets US regulatory green light for debut Starship flight to space
▼ + stars: | 2023-04-14 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

WASHINGTON, April 14 (Reuters) - The U.S. Federal Aviation Administration on Friday granted a long-awaited license allowing Elon Musk's SpaceX to launch its Starship rocket to orbit for the first time, clearing the way for a test flight crucial to the company's goals in space. "After a comprehensive license evaluation process, the FAA determined SpaceX met all safety, environmental, policy, payload, airspace integration and financial responsibility requirements," the FAA said in a statement on Friday, adding that the license is valid for five years. The launch, from SpaceX's Starbase rocket facilities in Boca Chica, Texas, is slated for Monday April 17, the company affirmed on Twitter. Regulatory notices filed earlier on Friday indicate liftoff could occur anytime from 5:30 a.m. to 2 p.m. Central time. Reporting by Joey Roulette; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

☆ Japan approves Osaka as site of country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. Put forth by the city and Osaka prefecture, the project aims to open a casino, conference centre and other facilities in 2029 with 1.8 trillion yen ($13.5 billion) of initial investment. MUFG Bank (8306.T) and Sumitomo Mitsui Banking Corp (8316.T) will provide 550 billion yen in project financing for the resort, the document showed. The national government's decision came after the pro-casino Japan Innovation Party retained both the office of prefectural governor and city mayor in Osaka on Sunday. Japan's casino plans have faced a number of obstacles such as the coronavirus pandemic and a bribery scandal.

☆ How Broadway Theater Owners Are Trying to Block a Times Square Casino
▼ + stars: | 2023-04-14 | by ( Dana Rubinstein | ) www.nytimes.com time to read: +1 min

Some New Yorkers may love Times Square; some definitely hate it. That also goes for a casino that may be headed there. Caesars Entertainment and SL Green Realty Corporation, New York City’s largest commercial landlord, say that Times Square — with its neon lights and jostling tourists — is tailor-made for their Jay-Z-backed bid for a parlor of one-armed bandits and roulette wheels. But Max Klimavicius, the owner of the century-old Sardi’s restaurant, would like a word. “A casino in Times Square has the potential to jeopardize the character of the theater district and ultimately the fate of its restaurants,” Mr. Klimavicius said.

☆ A millennial who grew his net worth to $600,000 explains what it took to dig his way out of debt after overcoming a gambling addiction
▼ + stars: | 2023-04-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Ambus Hunter, 36, said he almost went broke when he became addicted to gambling over a decade ago. His net worth is now about $600,000, and he works part time as a financial coach. Over the course of just four weeks, he said he lost roughly $10,000 — almost all his savings — playing roulette. Hunter said he'd had one major hiccup since he committed to quitting gambling but that he was able to get back on track. He said he set out to quickly replace the roughly $10,000 he'd lost.

REUTERS/Henry NichollsApril 8 (Reuters) - As the fortunes of Richard Branson's Virgin Orbit were crashing to Earth last month, a little-known investor called Matthew Brown appeared offering a $200 million rescue. Virgin Group, which owns 75% of Virgin Orbit, also declined to comment for this article. The group is providing financing to Virgin Orbit as the satellite launch company seeks a buyer in bankruptcy. Asked about this, Brown told Reuters he structured deals to protect investor confidentiality with a preference for "laying low below the radar." Virgin Orbit filed for bankruptcy on Tuesday.

☆ Branson's Virgin Orbit files for bankruptcy, to seek buyer
▼ + stars: | 2023-04-04 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

Virgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected. Spun off from Branson's space tourism firm Virgin Galactic in 2017, Virgin Orbit air-launches rockets from beneath a modified Boeing (BA.N) 747 plane to send satellites into orbit. Virgin Orbit's strategy has been that launching small rockets from a 747 in flight would allow for short-notice launches from anywhere. Virgin Investments, a unit of Virgin Group, will provide $31.6 million in new money to Virgin Orbit through debtor-in-possession financing to fund operations while it looks for a buyer in bankruptcy, the companies said. Virgin Orbit's bankruptcy filing showed its largest creditor as London-based Arqit Ltd, which was owed almost $10 million for services and as a customer deposit.

☆ Virgin Orbit's near future in "substantial doubt" over cash position - filing
▼ + stars: | 2023-04-03 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, April 3 (Reuters) - Richard Branson's Virgin Orbit Holdings (VORB.O) in a U.S. regulatory filing on Monday said there is "substantial doubt" its cash position will allow it to continue operating for at least the next 12 months. Virgin Orbit's statement came in a notice explaining why it had yet to file its annual 2022 report. Unable to secure new funds, Virgin Orbit on Thursday moved to lay off roughly 85% of its workforce, or about 675 employees. Virgin Orbit, spun off from Branson's space tourism firm Virgin Galactic in 2017, went public in 2021 through a blank-check deal, where it raised $255 million, less than expected. It added it expects to report for 2022 roughly $33.1 million in revenue and a net loss of about $191 million.

☆ Salesforce employees blast low morale, lack of communication in internal messages as layoffs continue: 'It's like checking the missing bulletin board after a major disaster'
▼ + stars: | 2023-03-30 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

"There just has to be a better, more human way of doing this," one employee wrote. Salesforce conducted another round of layoffs this week as part of its plan, announced in January, to reduce its workforce by 10%, Insider has learned. It's like checking the missing bulletin board after a major disaster," one employee wrote in a message viewed by Insider. "6 of my colleagues were laid off this morning," one employee wrote in a comment viewed by Insider with hundreds of supportive reactions. Are you a Salesforce employee or do you have insight to share?

☆ Virgin Orbit to lay off about 85% of staff
▼ + stars: | 2023-03-30 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Rocket maker Virgin Orbit Holdings(VORB.O) on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment. Shares of the company, which is controlled by Richard Branson's Virgin Group, fell 38% in after hours trade. About 675 employees will lose their jobs, and the company expects to take related charges of about $15 million, Virgin Orbit said in a regulatory filing. Virgin Orbit went public in 2021 through a blank-check deal, where it raised $255 million less than expected. A small group of employees returned to work on March 23 to focus on rocket engine work, an email to staff said at the time.

☆ AccuWeather sees average-to-fewer Atlantic storms this hurricane season
▼ + stars: | 2023-03-29 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

HOUSTON, March 29 (Reuters) - U.S. private forecaster AccuWeather expects a near-average to below-average 2023 Atlantic hurricane season, which begins June 1, according to a forecast issued on Wednesday. AccuWeather said it expects between 11-15 named tropical storms, 4-8 hurricanes and between one and three major hurricanes to form in the Atlantic Ocean before the season ends on Nov. 30. "We think El Nino will drive this season," said Dan Kottlowski, lead hurricane forecaster for AccuWeather. Kottlowski noted that even in a year when fewer storms are expected, people as far as 100 miles (160 km) inland have to prepare for tropical storms. Between 1990 and 2020, the average season has seen 14 named tropical storms, seven hurricanes with three of those considered to be major.

After nearly two decades of Western-led intervention and engagement with the world, 18% of the population had internet access, according to the World Bank. "For girls in Afghanistan, we have a bad, awful internet problem," Sofia said. "It's too hard to access internet in Afghanistan and sometimes we have half an hour of power in 24 hours." Seattle-based Ookla, which compiles global internet speeds, put Afghanistan's mobile internet as the slowest of 137 countries and its fixed internet as the second slowest of 180 countries. She was working with international companies to find solutions to poor internet access but said she could not elaborate.

☆ Virgin Orbit extends worker furlough, continues funding talks -CEO
▼ + stars: | 2023-03-27 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

March 27 (Reuters) - Billionaire Richard Branson's cash-strapped Virgin Orbit Holdings (VORB.O) will extend an unpaid furlough for most of its employees as talks seeking new funding continue, the company's chief executive said in an email to employees on Monday. Virgin Orbit declined further comment. Reuters reported last week that Texas-based Matthew Brown had been in talks to invest $200 million in the company. Branson owns a controlling stake of Virgin Orbit of roughly 75%. Virgin Orbit shares were down 12% in after-hours trading Monday after closing down 26 cents, or 33%, at 54 cents a share.

☆ Virgin Orbit says space startup in talks with potential investors
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +3 min

March 23 (Reuters) - Billionaire Richard Branson's cash-strapped satellite launch company Virgin Orbit Holdings (VORB.O) said on Thursday it is in talks with "interested parties" about an investment in the company. "As we disclosed on March 16, the company has taken cash preservation measures as it explores strategic options to secure Virgin Orbit's future," Virgin Orbit said in a statement. "The company can confirm that it is in discussions with interested parties about a potential investment in the company," Virgin Orbit added. Brown, who describes himself as a "space enthusiast" who has invested in more than 13 space companies, told CNBC he would own Virgin Orbit if the deal closes. Virgin Orbit said on Wednesday it would resume operations on Thursday and prepare for its next mission by recalling some employees.

☆ Relativity's debut rocket launch proves durability, fails in space
▼ + stars: | 2023-03-23 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

WASHINGTON, March 22 (Reuters) - Relativity Space's 3D-printed rocket lifted off for the first time on Wednesday, passing a key milestone to demonstrate the vehicle's in-flight strength before its second stage failed upon reaching space, a company live stream showed. The California-based company's 110-foot tall Terran 1 rocket, which is 85% made of 3D-printed parts, lifted off on its debut flight around 11:25 p.m. EDT (0325 GMT on Thursday) from a launchpad at Florida's Cape Canaveral Space Force Base. Upon reaching space, the rocket's second stage engine appeared to briefly ignite but failed to achieve thrust, ultimately failing to reach orbit. "While we didn't make it all the way today, we gathered enough data to show that flying 3D-printed rockets is possible," Relativity Test Program Manager Arwa Tizani Kelly said on the company's live video stream. Reporting by Joey Roulette; Editing by Christopher Cushing and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ NASA delays Boeing Starliner's debut crewed voyage
▼ + stars: | 2023-03-23 | by ( Joey Roulette | ) www.reuters.com time to read: +6 min

Starliner's debut crewed mission, which will carry commander Butch Wilmore and pilot Suni Williams, to the International Space Station will be a crucial moment for Boeing's space unit. The delay comes as Boeing and NASA performed extra testing on several areas of the spacecraft. "Boeing has conducted more than a dozen Starliner battery thermal runaway tests, stressing the battery cells beyond their intended limit. Federal procurement data shows NASA has agreed to pay Boeing at least $24.8 million for the upgrade of that system. NASA and Boeing's aim to have the valves redesigned for future missions initiated a dispute with Boeing's propulsion system supplier.

☆ Exclusive: Virgin Orbit near deal to raise $200 million from Matthew Brown
▼ + stars: | 2023-03-22 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, March 22 (Reuters) - Billionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc (VORB.O) is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters. Virgin Orbit and Matthew Brown are aiming to close the deal on Friday, according to the term sheet, which is not binding and remains subject to final agreement. Virgin Orbit was not immediately available to comment, while Matthew Brown Companies did not respond immediately to a request for comment. Under the deal, Matthew Brown will be entitled to convert his $200 million investment in Virgin Orbit's preferred shares into common shares at the volume weighted average price in the 30 days before the deal is signed. Reuters reported on Tuesday that Virgin Orbit plans to recall a small team from the furlough on Thursday to work on rocket upgrades.

☆ Exclusive: Virgin Orbit in talks to raise $200 mln from Matthew Brown-term sheet
▼ + stars: | 2023-03-22 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

WASHINGTON, March 22 (Reuters) - Billionaire Richard Branson's cash-strapped Virgin Orbit (VORB.O) is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters. The two companies are aiming to close the deal on Friday, according to the term sheet. Virgin Orbit was not immediately available to comment. Matthew Brown Companies did not immediately reply to a Reuters request for comment. Reuters reported on Tuesday that Virgin Orbit plans to recall a small team from the furlough on Thursday to work on rocket upgrades.

☆ Branson's Virgin Orbit to recall small team from near-total furlough
▼ + stars: | 2023-03-22 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, March 21 (Reuters) - Richard Branson's Virgin Orbit (VORB.O) plans to recall on Thursday a small group of employees from a near company-wide furlough to work on rocket upgrades, an email to staff said, with the company confirming some team members would return. The move, in which only employees critical to company functions would remain, was intended to buy Virgin Orbit more time to finalize an investment plan and stave off bankruptcy. Discussions over Virgin Orbit's investment plan to stave off bankruptcy were ongoing, said a second person familiar with the process. A Virgin Orbit spokesperson said in a statement that the company was targeting an "incremental resumption" of operations to support its next launch. Virgin Orbit shares fell to a fresh record low close of $0.44 on Tuesday.

☆ Branson's Virgin Orbit to return small team from near-total furlough
▼ + stars: | 2023-03-22 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

WASHINGTON, March 21 (Reuters) - Richard Branson's Virgin Orbit (VORB.O) plans to return on Thursday a small group of employees from a near company-wide furlough to work on rocket upgrades, three people familiar with the matter said, with the company confirming it had recalled some team members. The number of employees due to return to work at the cash-strapped company was not immediately clear. Virgin Orbit chief executive Dan Hart announced the return of some staff from furlough in an email to employees on Tuesday night, said the three people, who requested anonymity to discuss internal company matters. Virgin Orbit said in a statement that it was targeting an "incremental resumption" of operations to support its next launch. Virgin Orbit shares fell to a fresh record low close of $0.44 on Tuesday.

☆ Exclusive: Virgin Orbit near deal to raise $200 mln from Matthew Brown - term sheet
▼ + stars: | 2023-03-22 | by ( Joey Roulette | ) www.reuters.com time to read: +3 min

WASHINGTON, March 22 (Reuters) - Billionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc (VORB.O) is nearing a deal for a $200-million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters. Matthew Brown Companies did not immediately respond to a request for comment. Virgin Orbit and Matthew Brown are aiming to close the deal on Friday, according to the term sheet, which is not binding and remains subject to final agreement. Virgin Orbit's board agreed to move forward with the deal at a meeting held on Tuesday, according to a person with direct knowledge of the matter. Under the deal, Matthew Brown will be entitled to convert his $200 million investment in Virgin Orbit's preferred shares into common shares at the volume weighted average price in the 30 days before the deal is signed.

☆ Artificial intelligence will replace work jerks. People skills will become more important.
▼ + stars: | 2023-03-16 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

She turned into a hologram to see what the future of work might look like. When dealing with a difficult manager, it's important to identify what they hold true or what speaks to their values. That coworker who's brilliant — but a horrible person — better watch out. Employees will find out within the next 30 days whether they need to return to the office, per a leaked email. A leaked email shows Amazon has been working behind the scenes on AI.

☆ Blue Origin expects New Shepard rocket's return to flight in late 2023
▼ + stars: | 2023-03-15 | by ( Joey Roulette | ) www.reuters.com time to read: 1 min

WASHINGTON, March 15 (Reuters) - Jeff Bezos' Blue Origin expects to return its New Shepard rocket to flight by the end of 2023 after the vehicle suffered a mid-flight failure in September, a company sales executive said on Wednesday. "We are looking to get back into flight with New Shepard by the end of this year," Ariane Cornell, vice president of commercial and international sales, said at a conference in Washington. The company has provided few details on an investigation into why its 59-foot-tall (18-meter-tall) New Shepard rocket aborted a research capsule roughly one minute after lifting off in Texas in September. No humans were aboard the rocket. Reporting by Joey Roulette; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Sierra Space taps veteran Boeing lobbyist to helm new government strategy
▼ + stars: | 2023-03-15 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

WASHINGTON, March 15 (Reuters) - Sierra Nevada Corp's space unit, Sierra Space, has tapped Boeing's former top lobbyist to lead a new, more aggressive government relations shop as the company courts government customers for its planned commercial space station. Tim Keating, a veteran political strategist who pushed Boeing through numerous procurement campaigns for over a decade, joined Sierra in early March as its Chief Strategy Officer and Senior Vice President of Global Government Operations, Keating told Reuters. Sierra Space, owned by billionaire couple Fatih and Eren Ozmen, is one of a handful of space industry players attempting to build a private space station that NASA hopes will replace the two decade-old International Space Station by 2030. "It wasn't really the emphasis, and now we're going to build out a team," Keating, who was also senior vice president of global government relations at Honeywell, said in an interview. Partnering with billionaire Amazon.com founder Jeff Bezos' Blue Origin, Sierra sees NASA and other countries' space agencies as crucial early customers for its planned space station, a massive orbital research lab and tourist destination dubbed Orbital Reef.

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