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How to buy a ticket aboard a Virgin Galactic flight for $450,000 a pop



Virgin Galactic plans to soar past the Covid troubles burdening the aviation industry with an audacious financial plan

Sir Richard Branson has a plan to repair Virgin Atlantic’s money woes. The airline is exploring a possible listing on the London stock market. It has also reopened ticket sales for upcoming space flights.

The starting price for a seat aboard a Virgin Galactic flight on the ‘SpaceShipTwo’ costs a whopping $450 thousand dollars, far from the “modest premium” that CEO Michael Colglazier recently described.

The news of reopening ticket sales came alongside the release of the company’s quarterly financial report. The report revealed a net loss of over $94 million. The company has been in the red every quarter since going public in 2019.

What does a flight aboard SpaceShipTwo cost?

The company will offer three booking options; single-seat reservations, multi-seat reservations and an option to buy out all six seats on a given flight.

Colglazier also said that the company will offer seats for “research and professional astronaut training” priced at $600,000 each.

The total experience runs for approximately an hour; including a mere few minutes of weightlessness and views of earth in what the US government considers to be space.

Who can buy a Virgin Galactic flight?

Virgin Atlantic will offer the tickets to a list of “early hand raisers” before opening the spots to the public. The list in question is the “Spacefarer Community”, which has a $1000 deposit joining fee. The group has about 1000 members who have paid the deposit.

The company will also raffle off two seats to people who donated to Space For Humanity; a nonprofit working towards democratising space.

However, any new buyers will need to wait for their turn behind a pretty long list of people waiting for their chance to go to space. Almost 600 people already purchased a ticket for between $200,000 and $250,000 nearly a decade ago.

The news follows the Virgin Galactic completing its first fully crewed flight to the edge of space last month.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Workers rush back to their desks over job fears



Workers across Australia are rushing back to their desks, driving office utilisation rates to their highest levels since February 2020.

Tuesdays, Wednesdays, and Thursdays emerge as the busiest in-office days, contrasting with the continued reluctance to return on Fridays.

This insight, drawn from XY Sense data based on 18 enterprise customers in Australia employing approximately 68,000 individuals across 127 buildings, reflects a significant shift in workplace dynamics.

The surge in office attendance coincides with a resurgence in workplace attendance mandates and policies linking physical presence to bonuses and performance reviews.

However, co-founder of XY Sense, Alex Birch, suggests that rising job insecurity, rather than these policies, primarily drives this behavioral shift.

“The pendulum has moved towards the employer, and therefore people feel more obliged to go back into work,” commented Mr. Birch.

Job market

Danielle Wood, chairwoman of the Productivity Commission, anticipates this trend to persist as the job market softens.

She notes a disparity between employer and worker perceptions regarding the productivity benefits of hybrid work arrangements, hinting at potential shifts in the employment landscape.

Meanwhile, economists at the e61 Institute observe a partial reversal of the pandemic-induced “escape to the country” trend.

Rent differentials between regional and capital city dwellings, which narrowed during the pandemic, are now widening again.

This trend suggests a diminishing appeal of remote work options and a return to urban commuting.

Aaron Wong, senior research economist at e61, said the emergence of a “new normal,” characterised by a hybrid lifestyle that blends access to office spaces with proximity to lifestyle amenities such as natural landscapes.

While regional rents decline, rents for homes on the urban fringe surge, reflecting evolving preferences shaped by remote work opportunities.

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Why resilient economy is fuelling demand for Australian property



Despite inflationary pressures, Australian house prices have surged to a record high for the fifth month in a row, as indicated by CoreLogic data.

Australian house prices have not only weathered inflation but have also soared to unprecedented levels, marking the fifth consecutive month of record highs, according to data from CoreLogic.

This resilience reflects the enduring demand for property in the country, showcasing the sustained interest of buyers despite challenging economic conditions.

VentureCrowd’s Head of Property, David Whitting, talks how investors can access alternative ways of property investing.

Presented by VentureCrowd #funding futures #housing #economy

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Three reasons why you don’t need to panic about inflation



Inflation in the US has exceeded expectations for the third consecutive month, driven by increases in essential commodities such as oil, electricity, takeaway food, and medical costs.

  1. Despite a 3.8% year-on-year rise in CPI, it’s notable that this figure has decreased from its previous 9% high.
  2. The robust CPI and economic growth numbers suggest a positive outlook for US corporate earnings.
  3. The S&P500 has seen five 1% drops this year, all of which were met with investors buying the dip.

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