Tui to bail out Hapag-Lloyd

Hapag-Lloyd, the stricken German container ship fleet, is to get a €420m (£362m) capital injection from travel group Tui that will guarantee the firm’s future. Tui, which already owns a 43 per cent stake in Hapag, is to provide an investment that will then enable the firm to file a vital application for €1.2bn in aid from the German government as early as today.