Richard Branson’s Virgin Group has settled for a minority role in a joint venture bidding to run Britain’s East Coast rail route, with long-term partner Stagecoach Group Plc taking a controlling stake.
For U.S. politicians, civil rights leaders, celebrities and business leaders with a connection to Nelson Mandela, there’s no more prestigious way to pay their respects at his memorial than to arrive in South Africa on Air Force One with President Barack Obama.
Qantas Airways Ltd.’s credit rating was cut to junk at Standard & Poor’s a day after the carrier flagged a record first-half loss and 1,000 job cuts. The shares fell to the lowest since July 2012 and bond risk soared.
What makes Virgin Australia Holdings Ltd., the second-largest competitor in a market with only 23 million passengers, such an attractive takeover target? The chance to weaken Qantas Airways Ltd. on international routes.
To preserve competition in the rental car business when No. 2 Hertz wanted to buy No. 4 Dollar Thrifty, U.S. regulators had a fix. Industry veteran Sandy Miller warned them it would blow up. He was right.
Muhammad Yunus, the Nobel laureate and outcast founder of Grameen Bank, said Bangladesh’s move to tighten controls on the microcredit lender is “heart-breaking” and called for an end to state interference.
On a cold, clear January morning, Sir Richard Branson finds himself standing in the middle of a pedestrian-friendly street in Newcastle -- a hardscrabble city in northeast England -- becoming something he never thought he would be: a banker.
Virgin Australia Holdings Ltd., the country’s second-largest carrier, said it plans to raise A$350 million ($328 million) in a share sale that allows airlines that are its biggest investors to lift their stake to 70 percent.