{"id":1888114,"date":"2023-03-16T07:11:39","date_gmt":"2023-03-16T11:11:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bransons-virgin-orbit-explores-options-as-cash-woes-force-operational-halt\/"},"modified":"2023-03-16T07:13:38","modified_gmt":"2023-03-16T11:13:38","slug":"bransons-virgin-orbit-explores-options-as-cash-woes-force-operational-halt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bransons-virgin-orbit-explores-options-as-cash-woes-force-operational-halt\/","title":{"rendered":"Branson\u2019s Virgin Orbit explores options as cash woes force operational halt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbransons-virgin-orbit-explores-options-as-cash-woes-force-operational-halt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1888114&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; Virgin Orbit, Richard Branson&#8217;s satellite launch company, said it was looking at strategic opportunities and was in discussions for funding. This was after a cash crunch that forced Virgin Orbit to suspend operations on Thursday.<\/p>\n<p>The company expects that the operational halt will continue until March and shares of the company tumbled nearly 45%. 21 fell nearly 45% during premarket trading<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>According to Reuters, Virgin Orbit also has furloughed almost all its employees. This was confirmed by a source who spoke with Reuters on Wednesday.<\/p>\n<p>According to a source who was present at the meeting, Chief Executive Dan Hart stated that the furlough was meant to give the company the time it needed to develop a new investment plan. This would help the company pull out of financial difficulties.<\/p>\n<p>Virgin Orbit&#8217;s rocket LauncherOne, a Virgin Orbit rocket, experienced an anomaly while it was flying through space in January. It shattered Britain&#8217;s hopes that it would be the first European nation ever to place satellites in orbit.<\/p>\n<p>The financial difficulties of the company were further exacerbated by the failure to complete its mission.<\/p>\n<p>As of September 30, 2022, the company reported cash and cash equivalents in excess of $71.2million.<\/p>\n<p> (Reporting done in Bengaluru by Chavi Mehta; Editing by Saumyadeb Chakrabarty &#038; Shinjiniganguli).<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bransons-virgin-orbit-explores\/attachment\/file-photo-uks-first-launch-of-virgin-orbits-launcherone-rocket\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This bombshell report exposes the true reason for Capitol Hill&#8217;s January 6th &#8220;emergency&#8221;.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>El Cajon major Bill Wells is running to be a Congressman. Wells was well-known for his common-sense policies against COVID lockdowns.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>For the annual GOP Spring Convention, Republican&#8217;s from California gathered at Sacramento. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>John Leake<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Eduardo Baptista and Josh Ye BEIJING\/HONG KONG (Reuters) -China&#8217;s Baidu unveiled its much-awaited artificial intelligence-powered chatbot known as Ernie Bot on\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) -Britain is set to announce a ban on TikTok on government phones on Thursday, PA Media reported, a move that\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Ben Blanchard TAIPEI (Reuters) \u2013 Taiwan chipmaker TSMC&#8217;s talks with the German state of Saxony about building a new factory are\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company&#8217;s\u2026 <\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/bransons-virgin-orbit-explores\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=bransons-virgin-orbit-explores\">Branson&#8217;s Virgin Orbit examines options as cash woes lead to operational halt<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Richard Branson\u2019s Virgin Orbit said it was exploring strategic opportunities and was in talks for potential funding after a cash crunch forced the satellite launch company to pause operations starting Thursday. Shares of the company, which expects the operational halt to continue until Mar. 21, tumbled nearly 45% in premarket trading. Virgin Orbit has<\/p>\n","protected":false},"author":1,"featured_media":1890045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[21852,4119,9485,4649,10485,17560,7744,10112,12029,7495],"class_list":["post-1888114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bransons","tag-cash","tag-explores","tag-force","tag-halt","tag-operational","tag-options","tag-orbit","tag-virgin","tag-woes"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1888114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1888114"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1888114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1890045"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1888114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1888114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1888114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}