Connect with us

Business

Virgin Galactic rocket ship touches down after soaring to space – Al Jazeera English

Published

 on


A Virgin Galactic spaceship carrying Richard Branson has safely touched down after soaring to the edge of space on Sunday in a voyage the British billionaire called an “experience of a lifetime”.

The VSS Unity vessel reached a peak altitude of about 85km (53 miles), beyond the boundary of space according to the United States, allowing the passengers to experience weightlessness and admire the Earth’s curvature.

“Congratulations to all our wonderful team at Virgin Galactic for 17 years of hard hard work to get us this far,” Branson said during a live feed, as the spaceship glided back to Spaceport America in New Mexico.

Touchdown occurred about 9:40am local time (15:40 GMT), about an hour after takeoff.

Sunday’s launch of the VSS Unity passenger rocket plane marked the company’s 22nd test flight of its SpaceShipTwo system and its fourth crewed mission beyond Earth’s atmosphere. It was also the first to carry a full complement of space travellers – two pilots and four “mission specialists” – Branson among them.

A week away from his 71st birthday, Branson and his crewmates walked onto the tarmac waving to a throng of onlookers before boarding the Unity rocket plane parked at the end of a taxiway. A video posted by Virgin Galactic showed Branson arriving earlier at the takeoff site on his bicycle and greeting crewmates with a hug.

Space analyst Leo Enright told Al Jazeera the flight “could not have gone any smoother” and would give “an enormous boost of public confidence” to Branson’s space enterprise.

An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California’s Mojave Desert in 2014, killing one pilot and seriously injuring another.

“The next big thing maybe is an announcement that they are opening up yet again tickets sales for his spaceplane,” Enright said.

“They closed them down after the tragic loss of a vehicle and the death of a crew member back in 2014, so there is every possibility that later today Branson will announce that he’s opening it up again and it’ll be interesting to see how many tickets he is willing to sell.”

A festive gathering of space industry executives, future customers and other well-wishers were on hand to witness Sunday’s launch, which was live-streamed in a presentation hosted by late-night television comedian Stephen Colbert.

Among those present was fellow billionaire and space industry pioneer Elon Musk, who is the founder of electric carmaker Tesla Inc.

The gleaming white spaceplane was carried aloft attached to the underside of the dual-fuselage jet VMS Eve (named for Branson’s late mother) in a takeoff from Spaceport America, a state-owned facility near the aptly named town of Truth or Consequences. Virgin Galactic leases a large section of the 18,000-acre site.

Reaching its high-altitude launch point at about 46,000 feet, Unity was released from the mothership and fell away as its crew ignited the vehicle’s rocket, sending it streaking straight upward at supersonic speed to the blackness of space some 53 miles (85.9 km) high.

At the apex of the climb with the rocket shut down, the crew then experienced a few minutes of microgravity, before the spaceplane shifted into re-entry mode, and began a gliding descent to a runway back at the spaceport. The entire flight, from takeoff to landing, lasted about an hour.

“This is the highlight of the ride to get a view of the curving Earth and to spend a few minutes in weightlessness, get out of your seats, and do a roll which apparently they [did] so this is a big moment,” Alan Boyle, contributing editor at GeekWire, told Al Jazeera.

“It’s pretty thrilling and the view is fantastic, you can see … the slight curve of the Earth and the black sky of space above, and that’s what people are going to pay hundreds of thousands of dollars to see, and then they have to quickly get back onto their seats.. and experience a few Gs of acceleration on the way down,” Boyle added.

Al Jazeera’s Rob Reynolds, reporting from Sierra County, New Mexico said the operation was carried out “flawlessly”.

Virgin Galactic founder Richard Branson waves goodbye while heading to board the rocket plane in New Mexico on Sunday [Andres Leighton/AP Photo]

“Everything went flawlessly from the take-off of the mother ship Eve with unity strapped to its fuselage to the separation, which is always a very tricky part in this kind of an operation, technically tricky, and then the firing of the rockets … and then the plane came gliding in for a perfect landing.”

Virgin has said it plans at least two further test flights of the spaceplane in the months ahead before beginning regular commercial operation in 2022.

This is no discount travel service. But demand is apparently strong, with several hundred wealthy would-be citizen astronauts already having booked reservations, priced at about $250,000 per ticket.

The Swiss-based investment bank UBS has estimated the potential value of the space tourism market reaching $3bn annually by 2030.

Proving rocket travel safe for the public is key, given the inherent dangers of spaceflight.

Adblock test (Why?)



Source link

Continue Reading

Business

Stock market news live updates: Stock turn lower following last week's rebound – Yahoo Canada

Published

 on


U.S. stocks closed a choppy session lower Monday, weighed down by losses in technology shares, after the major indexes failed to sustain momentum from last week’s rally.

The S&P 500 fell 0.3%, and Dow Jones Industrial Average dipped 60 points, or 0.2% after each benchmark wavered between the red and the green throughout the trading day. The Nasdaq Composite declined 0.9%.

The moves follow a sharp rebound Friday that saw the S&P 500 surge 3% during the session and over 6% for the week, its second-best week this year and its first weekly rise since late May. Still, the benchmark index is on pace for its worst opening six months since 1970.

During the previous session, the Dow rose more than 800 points, or 2.7%, while the Nasdaq increased by more than 3.3%, leading to weekly gains for the indexes of more than 5% and 7%, respectively.

Some Wall Street strategists are hopeful that markets may have found a bottom.

“As bad as [this year] has been for investors, the good news is previous years that were down at least 15% at the midway point to the year saw the final six months higher every single time, with an average return of nearly 24%,” LPL Financial chief market strategist Ryan Detrick said in a note last week.

J.P. Morgan strategist Marko Kolanovic also predicted that U.S. equities may climb as much as 7% this week as investors rebalance portfolios amid the end of the month, second quarter, and first half of the year.

While sentiment on Wall Street appears optimistic, investors are in for a bevy of key economic reports and earnings that may sway markets this week and put hopes of a comeback to the test.

Quarterly results from Nike (NKE) and Micron (MU) will be closely watched for signs of rising inventories and slowing orders like Target and some other retailers have warned about recently, which may renew worries of an economic slowdown among Corporate America.

Traders also face a fairly loaded economic calendar this week, with the latest read on core PCE inflation – the Federal Reserve’s preferred measure of consumer prices, the Conference Board’s consumer sentiment survey, and manufacturing and housing reports due out through Friday.

A trader works on the floor of the New York Stock Exchange NYSE in New York, the United States, June 16, 2022. U.S. stocks fell sharply on Thursday as steep sell-off continued on Wall Street amid rising recession fears. (Photo by Michael Nagle/Xinhua via Getty Images)A trader works on the floor of the New York Stock Exchange NYSE in New York, the United States, June 16, 2022. U.S. stocks fell sharply on Thursday as steep sell-off continued on Wall Street amid rising recession fears. (Photo by Michael Nagle/Xinhua via Getty Images)

A trader works on the floor of the New York Stock Exchange NYSE in New York, the United States, June 16, 2022. U.S. stocks fell sharply on Thursday as steep sell-off continued on Wall Street amid rising recession fears. (Photo by Michael Nagle/Xinhua via Getty Images)

On the move

  • Robinhood Markets (HOOD)‘s stock surged 14% to close at $9.12 per share following a report from Bloomberg that cryptocurrency exchange FTX is considering a deal to acquire digital trading platform. Earlier in the day, Robinhood was in the spotlight after Goldman Sachs upgraded the brokerage to Neutral, about two months after the bank downgraded shares to Sell.

  • Coinbase (COIN) shares plunged nearly 10.8% to $55.96 after analysts at Goldman Sachs on Monday downgraded the cryptocurrency exchange to Sell from Neutral and slashed their price target on the stock to $45 from $70. Goldman also noted that while Coinbase recently announced it would cut 18% of staff, these layoffs will not be enough to bring the company’s costs in line with lowered sales.

  • AMC Entertainment (AMC) rallied to cap trading up 13.6% despite a turbulent session for the broader markets. The stock rose amid increased mentions across forums such as Reddit’s WallStreetBets and Stocktwits. AMC was also added to the Russell 1000 Index after an annual rebalancing.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Adblock test (Why?)



Source link

Continue Reading

Business

Man uses Apple Airtags to find stolen Range Rover | CTV News – CTV News Toronto

Published

 on


An Ontario man whose car was stolen from his driveway in midtown Toronto twice in three months is revealing how he tracked and located his second vehicle.

“It’s pretty scary, but you can’t live your life in fear,” Lorne, whose surname CTV News Toronto has omitted due to safety concerns, said on Monday.

On April 1, his family moved to the Avenue Road and Lawrence Avenue area.

The following day, employees from an electronics company arrived at his house to install televisions. He placed the keys of his Range Rover Autobiography into a faraday box, which is designed to prevent criminals from copying a key fob and gaining access to a vehicle.

However, within minutes of the employees leaving his house, his car was stolen in broad daylight.

“The thieves were able to disable the tracker in my car, put there by the manufacturer,” Lorne said.

Meanwhile, his wallet, along with his kids phones, which were in the car, were thrown out of the vehicle before it was stolen, which Lorne said he believes was a preventive measure to avoid him from tracking the location of his car.

His Range Rover was never recovered.

Thirty days later, he got a new car of the same model, but this time, he placed three Apple AirTag tracking devices inside – one in the glovebox, another in his spare tire in the trunk and a third under his back seat.

While Lorne said he typically parks in his garage, last Wednesday night, he didn’t.

At 8:30 a.m. the next morning, he said his kids ran into his bedroom screaming, ”Daddy, daddy, your car is gone.” 

Right away, he logged into his Find My app and located all three of his AirTags near Manville and Comsock roads in Scarborough, listed as a metal recycling plant. 

After dropping his kids at school, he headed to that location and called the police. With no success reaching an officer, he drove to the 41 Division police station.

Toronto police spokesperson David Hopkinson confirmed to CTV News Toronto that a report of this nature was received by police on Thursday.

“I pressed my panic button and you heard it going off,” Lorne said. “The next day I was told they recovered nine cars.”

Due to an ongoing investigation, police could not comment further on the incident.

This time, however, Lorne said police recovered his vehicle and he anticipates it should be back in his possession soon.

While he said his AirTags worked in this case, he anticipates car thefts will only get increasingly sophisticated.

“It’s not foolproof,” he said.

Adblock test (Why?)



Source link

Continue Reading

Business

Company buying Trump's social media app faces subpoenas – Yahoo Canada Finance

Published

 on


NEW YORK (AP) — The company planning to buy Donald Trump’s new social media business has disclosed a federal grand jury investigation that it says could impede or even prevent its acquisition of the Truth Social app.

Shares of Digital World Acquisition Corp. dropped almost 10% Monday as the company revealed that it has received subpoenas from a grand jury in New York.

The Justice Department subpoenas follow an ongoing probe by the Securities and Exchange Commission into whether Digital World broke rules by having substantial talks about buying Trump’s company starting early last year before Digital World sold stock to the public for the first time in September, just weeks before its announcement that it would be buying Trump’s company.

Trump’s social media venture launched in February as he seeks a new digital stage to rally his supporters and fight Big Tech limits on speech, a year after he was banned from Twitter, Facebook and YouTube.

The Trump Media & Technology Group — which operates the Truth Social app and was in the process of being acquired by Digital World — said in a statement that it will cooperate with “oversight that supports the SEC’s important mission of protecting retail investors.”

The new probe could make it more difficult for Trump to finance his social media company. The company last year got promises from dozens of investors to pump $1 billion into the company, but it can’t get the cash until the Digital World acquisition is completed.

Stock in Digital World rocketed to more than $100 in October after its deal to buy Trump’s company was announced. The stock closed at $25.16 Monday.

Digital World is a special-purpose acquisition company, or SPAC, part of an investing phenomenon that exploded in popularity over the past two years.

Such “blank-check” companies are empty corporate entities with no operations, only offering investors the promise they will buy a business in the future. As such they are allowed to sell stock to the public quickly without the usual regulatory disclosures and delays, but only if they haven’t already lined up possible acquisition targets.

Digital World said in a regulatory filing Monday that each member of its board of directors has been subpoenaed by the grand jury in the Southern District of New York. Both the grand jury and the SEC are also seeking a number of documents tied to the company and others including a sponsor, ARC Global Investments, and Miami-based venture capital firm Rocket One Capital.

Some of the sought documents involve “due diligence” regarding Trump Media and other potential acquisition targets, as well as communications with Digital World’s underwriter and financial adviser in its initial public offering, according to the SEC disclosure.

Digital World also Monday announced the resignation of one of its board members, Bruce Garelick, a chief strategy officer at Rocket One.

The Associated Press

Adblock test (Why?)



Source link

Continue Reading

Trending