Virgin Orbit was unable to secure the funding it needed to recover from the failure of its last mission Richard Branson’s Virgin Orbit Holdings, a California-based satellite launch company and a subsidiary of his Virgin Group, announced on Tuesday that it had filed for Chapter 11 bankruptcy protection in the US.
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The move suggests that restoring the pipeline has not been ruled out, sources say Two major German insurance companies have renewed coverage of the damaged Nord Stream 1 gas pipeline, Reuters reported on Tuesday, citing sources.
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The boss of Credit Suisse has said he is ‘truly sorry’ about the collapse of the 167-year-old firm Credit Suisse Chairman Axel Lehmann apologized to shareholders on Tuesday for failing to contain the crisis which led to the lender’s downfall. The ailing Swiss banking giant was taken over by rival UBS last month.
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