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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Virgin Group

Virgin Group stories: 7 news summaries

 Branson's 
 Next Launch: 
 Virgin Internet Bank 

Exploiting the public's discontent with banks, Virgin could bid for Northern Rock

May 18, 09 7:16 AM CDT
(Newser) - Capitalizing on public disgust with Britain’s big banks, Richard Branson plans to launch an Internet bank through subsidiary Virgin Money that will take deposits and offer mortgages, the Guardian reports. Branson is talking to investors and some US banks about financial backing and could set in motion more ambitious... More »

MORE ABOUT:
Richard Branson • United Kingdom • bank • Britain • Virgin Group • Northern Rock Bank • financial crisis

'Sir Richard, What Is That White Stuff?'

Airline chief Branson gets complaint
about food

Jan 26, 09 3:46 PM CST
(Newser) - Sir Richard Branson personally responded to a “constructive if tongue-in-cheek” complaint letter from a Virgin Atlantic passenger, reprinted in the Telegraph. The beleaguered (and unnamed) flyer likened the dining experience to an awful Christmas morning. “You open the present and it’s not in there. It’s your... More »

MORE ABOUT:
London • air travel • Mumbai • airline food • Virgin Group • airline passengers • complaints • Sir Richard Branson

Did Air Ace Fossett
Fake His Death?

Questions surround disappearance

Jul 28, 08 3:05 AM CDT
(Newser) - Air adventurer Steve Fossett may have faked his own death, reports the tabloid News of the World. No wreckage was ever found after Fossett disappeared last year in a light plane over the Nevada desert. Fossett didn't bother to wear his GPS watch—and he may have had strong motives... More »

MORE ABOUT:
Richard Branson • aviation • pilot • Steve Fossett • Nevada Civil Air Patrol • Virgin Group • California Highway Patrol • Lloyds of London • Bellanca Citabria Super Decathlon

UK Nationalizes Northern Rock

Bank takeover marks desperate move for British ministers

Feb 17, 08 12:52 PM CST
(Newser) - British ministers plan to nationalize Northern Rock as part of a bold, desperate move to rescue the struggling bank, the BBC reports. Chancellor of the Exchequer Alistair Darling said two private bids to take over Northern Rock failed to offer “sufficient value for money to the taxpayer,” adding... More »

MORE ABOUT:
Richard Branson • United Kingdom • nationalization • Northern Rock • Bank of England • Alistair Darling • Virgin Group • taxpayers

Nationalization May Loom for Northern Rock

Branson's Virgin bid for troubled bank needs improvement, UK gov't says

Feb 13, 08 12:00 PM CST
(Newser) - Troubled British mortgage lender Northern Rock’s share price plummeted 8% today as rumors of government nationalization grew after the Treasury panned rescue plans offered by Richard Branson's Virgin Group and a competing version from the bank’s management team, the BBC reports. Though shareholders reportedly prefer management's bid, the... More »

MORE ABOUT:
Richard Branson • nationalization • Northern Rock • Virgin Group

Northern Rock Bailout Plan a Money Shuffle

Deal pays back government loans, but public still on the hook

Jan 21, 08 2:21 PM CST
(Newser) - The British government today unveiled its last-gasp plan to hand off the Northern Rock hot potato and prevent nationalization, the London Times reports. Under the plan, the bank would immediately pay back the £25 billion it owes the government by selling the debt to private investors as bonds. But... More »

MORE ABOUT:
Richard Branson • United Kingdom • Gordon Brown • subprime mortgages • shareholders • Northern Rock • Alistair Darling • Virgin Group • private investors • financial crisis

Northern Rock Boss Quits as Fall Continues

$570M writedown posted; sale of troubled bank months away

Dec 13, 07 7:54 AM CST
(Newser) - The CEO of collapsing British bank Northern Rock quit this morning without comment, reports the Financial Times. Adam Applegarth resigned last month but had pledged to stay on as CEO until the end of January to guide the struggling company through its upcoming sale. But investors are troubled by the... More »

MORE ABOUT:
Richard Branson • United Kingdom • Gordon Brown • credit crisis • Northern Rock • Virgin Group • Adam Applegarth

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