Virgin Australia airline to be sold to Us-based Bain Capital

Virgin Australia’s creditors agreed Friday to sell the airline to Bostonbased Bain Capital in a deal that will see the carrier cut 3,000 jobs and end many of its international flights.

Co-founded by British businessman Richard Branson, the airline in April became the world’s largest to seek bankruptcy protection after the coronavirus pandemic grounded much of the aviation industry. It plans to reemerge with cheap fares as a value-based carrier.

Virgin Australia said the deal with Bain, worth $2.5 billion, would see unsecured creditors get paid between 9 and 13 cents on the dollar for their claims. Virgin’s creditors are owed a total of about $5.1 billion.

Another airline founded by Branson, Virgin Atlantic, last month filed for protection in U.S. bankruptcy court. On Friday, Virgin Atlantic completed its $1.6 billion restructuring plan and cut 1,150 jobs.

New processors set for Qualcomm 5G-ready phones

Qualcomm said this week it will roll out processors to bring fast, reliable 5G connectivity to smartphones that cost as little as $125, doubling down on its bid to rapidly expand the popularity of this latest generation of mobile broadband.

The company announced that 5G-equipped Snapdragon 4 series processors will show up in phones early next year. Handset makers Motorola, Xiaomi and Oppo are rolling out devices powered by the chips.

It is unclear whether any of these low-cost smartphones will be available in the U.S. They are likely to target buyers in China and other countries.

Seitan’s Realm owners plan to open deli in Clintonville

Kevin and Amber Ridenbaugh, owners of Seitan’s Realm, a vegan food truck, plan to set up shop in the former A Common Table space at 3490 N. High St. in Clintonville.

Kevin Ridenbaugh said he hopes the restaurant would be open by November.

The couple opened their food truck in spring 2019 with weekly hours at Virtue Salon, on High Street near the planned deli.

It became popular quickly on the strength of its vegan meats — made from seitan, or wheat gluten, and given such names as “beaf” and “chikun” — made from Kevin Ridenbaugh’s original recipes.

Ridenbaugh said the deli will remain focused on sandwiches while expanding offerings in soups, salads and desserts. He said the space also would sell “meat” to go.

From staff, wire reports

Dear Car Talk: A casual look at traffic shows you that almost all cars are either gray, black or white — with a few red sprinkled in. OK, some people call their gray cars “silver,” but we know better.

My second car was a two-tone copper and cream 1956 Bel Air. A later one was a two-tone Buick Regal. Such imaginative color combinations were the rule as much as the exception.

What happened? Why are our colors so boring and washed out? Are the manufacturers cheap, or have they lost their imagination? — Paul

I’m actually color blind, Paul, so no one’s listened to a word I say about