WASHINGTON, Oct 15, 2007 (AFP) - British mogul Richard Branson on Monday launched a US arm of his Virgin Money operation offering a 'unique' service of managing loans and mortgages among family and friends.

Virgin Money USA 'will challenge the way consumers think about and manage their finances,' according to a statement from Branson's operation.

Executives said the unit would provide formal loan terms and tax deductions from deals among family and friends and interest rates 'typically two to three percentage points lower than what a bank charges.'

LONDON, Oct 12, 2007 (AFP) - Virgin Group, controlled by British billionaire Richard Branson, on Friday proposed a rescue package for Northern Rock that would see an international consortium overhaul the troubled mortgage lender.

However, the consortium, also comprising US and Asian investment groups, has insisted that it not be forced to make a full takeover offer.

LONDON, Oct 12, 2007 (AFP) - British billionaire Richard Branson's Virgin Group is considering a major investment in troubled lender Northern Rock, a source close to the matter told AFP on Friday.

Virgin wants to 'inject capital in the business' with the aid of a number of international partners, according to the source.

The source told AFP that Virgin was added on Friday to the list of potential buyers of embattled bank Northern Rock.

LONDON, Oct 12, 2007 (AFP) - British billionaire Richard Branson's Virgin Group is in talks about a consortium takeover of troubled lender Northern Rock, The Times reported on Friday.

The newspaper, quoting a source close to the matter, said Virgin was in discussions with Middle East and US investors about forming a consortium to inject cash into the bank -- in return for a controlling stake.

Under the proposal, Virgin would take over the management under its Virgin Money brand, which already offers credit cards, home loans and insurance services.

NEW YORK, Oct 11, 2007 (AFP) - British billionaire Richard Branson grabbed a ringside seat Thursday for the debut of Virgin Mobile USA's shares on the New York Stock Exchange as the newly public company raised 412.5 million dollars.

The flamboyant tycoon rang the opening bell to kick off the day's trading on the exchange with Virgin Mobile USA chief executive Dan Schulman, and pumped his arms in the air as the firm's stock was offered for sale to investors.

NEW YORK, Oct 11, 2007 (AFP) - British billionaire Richard Branson grabbed a front row seat Thursday for the debut of Virgin Mobile USA's shares on the New York Stock Exchange as the newly public company raised 412.5 million dollars.

Television footage showed Branson, one of Britain's best-known business figures, watching excitedly from the floor of the exchange as Virgin Mobile USA's stock debuted.

NEW YORK, Oct 11, 2007 (AFP) - British billionaire Richard Branson grabbed a front row seat Thursday for the debut of Virgin Mobile USA's shares on the New York Stock Exchange as the newly public company raised 412.5 million dollars.

Television footage showed Branson, one of Britain's best-known business figures, watching excitedly from the floor of the exchange as Virgin Mobile USA's stock debuted.

NEW YORK, Sept 25, 2007 (AFP) - Virgin Mobile USA, a joint Telecommunication venture between US firm Sprint Nextel and Virgin Group of Britain, said Tuesday it plans to raise about 400 million dollars in its market debut.

In a statement filed with the Securities and Exchange Commission, the US market regulator, the mobile phone operator said it was putting up for sale 25.6 million shares, representing 55 percent of the firm's total, at a price between 15 and 17 dollars per share.

LONDON, Sept 17, 2007 (AFP) - Richard Branson on Monday sold his Virgin Megastores record shops in Britain and Ireland, shedding the brand which launched his Virgin empire.

The British tycoon said high street music retailing was facing a stiff challenge from supermarket and online sales.

Virgin Group sold Virgin Megastores in Britain and Ireland for an undisclosed sum to a management buy-out team.

The deal creates Britain and Ireland's largest independent entertainment retailer and the 125 stores will now be rebranded as Zavvi after Zavvi Entertainment Group.

LONDON, Aug 21, 2007 (AFP) - Virgin Media, the Telecommunication and television giant previously known as NTL, on Tuesday announced the departure of chief executive Steve Burch.

'Virgin Media Inc. today announced that, for family and personal reasons, Steve Burch, Virgin Media's CEO, has decided to return to the United States and leave the company with immediate effect,' the group said in a statement.

The company, listed on the Nasdaq exchange but with operations mainly in Britain, added that a search for his replacement would begin shortly.

KUALA LUMPUR, Aug 10, 2007 (AFP) - Richard Branson's Virgin Group is taking a 20 percent stake in Malaysia's AirAsia long-haul carrier, with the British billionaire vowing Friday to pilot the project into profitability.

'Sir Richard Branson of Virgin Group is our new strategic global investment partner,' said Kalimullah Hassan of Fly Asian Xpress Sdn Bhd (FAX), the long haul operator of AirAsia X.

'We believe that this partnership whereby Virgin will take a 20 percent stake in AirAsia X will be a sound and successful investment,' Kalimullah said.

KUALA LUMPUR, Aug 10, 2007 (AFP) - British businessman Richard Branson will take a 20 percent stake in Malaysia's AirAsia long-haul budget carrier which is tipped to begin services next month, an airline executive said Friday.

'Branson is taking a 20 percent stake. He is injecting capital into Fly Asian Xpress Sdn Bhd. (FAX),' the official told AFP on condition of anonymity. He did not disclose other details.

FAX is the long-haul operator of AirAsia X.

The company was to make the official announcement later Friday regarding Branson's investment.

NEW YORK, Aug 8, 2007 (AFP) - Virgin America, a new affiliate of Britain's flashy cut-rate air carrier controlled by tycoon Richard Branson, launched Wednesday its first internal US flights out of its San Francisco base.

Skirting US restrictions against foreign-controlled airlines flying all domestic routes, the majority American-owned Virgin America opened with two daily flights between San Francisco and New York's JFK airport, and five on the busy San Francisco-Los Angeles route -- the latter with tickets as low as 44 dollars one-way.

KUALA LUMPUR, Aug 7, 2007 (AFP) - Asian low-cost airline pioneer Tony Fernandes looks set to score a major coup with British businessman Richard Branson coming on board to help get his struggling, high-risk long-haul venture off the ground, analysts said Tuesday.

Branson of Virgin Group is to take a 20 percent stake in Malaysia's AirAsia long-haul budget carrier, a report said.

AirAsia chief executive Tony Fernandes declined comment on the report even as the company said it would be making a major announcement on Friday.

KUALA LUMPUR, Aug 7, 2007 (AFP) - British billionaire Richard Branson of Virgin Group is to take a 20 percent stake in Malaysia's AirAsia long-haul budget carrier to help get it off the ground, a report said Tuesday.

AirAsia chief executive Tony Fernandes declined comment on the report even as the company said it would be making a major announcement on Friday.

'I am not saying anything,' Fernandes told AFP.

SINGAPORE, Aug 1, 2007 (AFP) - Singapore Airlines (SIA) is not ruling out a sale of the carrier's 49 percent stake in Virgin Atlantic Airways after returns from its investment in the British airline fell short of expectations, its chief executive said in remarks published Wednesday.

'Nothing is ruled out and nothing is ruled in,' chief executive Chew Choon Seng told the Straits Times newspaper.

'It has not produced the sort of returns we had anticipated when going in,' he said at the sidelines of SIA's annual general meeting Tuesday.