Bloomberg Billionaire Richard Branson says he’s ceding control of Virgin Atlantic Airways Ltd. so that the carrier can join what it claims will be “the most significant joint venture in aviation.” For Virgin, the deal may be as much about gaining a lifeline after years struggling to keep up with British Airways. Branson, 67, said in an open letter when …

Bloomberg Snapdeal rejected an acquisition bid from rival Flipkart Online Services Pvt, saying it will compete alone in India’s e-commerce market. Snapdeal, which said it will sell off some non-core assets, is set to post a gross profit this month, the startup said in an emailed statement on Monday. SoftBank Group Corp., which has almost a third of Snapdeal shares, …

Bloomberg Bombardier Inc. burned through less cash than expected in the second quarter and said pretax earnings this year will be in the top half of a previously disclosed range, as Chief Executive Officer Alain Bellemare forges ahead on his turnaround plan. Free cash flow usage in the period ended June 30 was $570 million, Bombardier said. In addition, the …