Timeline – Thomas Cook’s humble beginnings to a billion-pound collapse September 23, 2019 Thomas Cook’s insolvency has left hundreds of thousands of people stranded abroad, and cost tens of thousands of jobs in the UK. But it has been a long time coming. With debts ballooning over the last 10 years and a near-miss in 2011, Britain’s oldest travel firm has endured a bumpy ride in recent years [...]
Watch the last Thomas Cook plane land in Manchester after collapse September 23, 2019 Passengers on a plane from Orlando to Manchester would be forgiven for breathing a sigh of relief this morning as they became the last Thomas Cook customers to touch down before it went bust, leaving a string of cancellations in its wake. The company, which has been facing financial difficulties for months, shut up shop [...]
Thomas Cook falls into liquidation as rescue talks collapse September 23, 2019 Thomas Cook has collapsed into liquidation after failing to find the £1.1bn required to keep it afloat. Talks collapsed overnight to sink the holiday firm, leaving around 150,000 British holidaymakers stranded abroad. Read more: Thomas Cook teeters on the brink as 11th hour talks look set to fail The government will now charter dozens of [...]
Thomas Cook teeters on brink as eleventh hour talks look likely to end in failure September 22, 2019 Thomas Cook was close to collapsing into administration tonight as eleventh hour talks with its lenders looked set to end in failure. The company’s creditors and the government were tonight anticipating that the world’s oldest travel operator would announce it was ceasing trading tomorrow, Sky News reported. Big Four accountancy firm KPMG was tonight being [...]
M&S finance boss heads for the exit September 22, 2019 Marks & Spencer has confirmed it is parting ways with its finance chief less than two years after he took on the role. The retail giant’s group chief financial officer Humphrey Singer is leaving the business in the latest high-profile departure to rock the company. Read more: UK retail sales unexpectedly fall in August Coming [...]
Thomas Cook makes plea to lenders in last-minute rescue talks September 22, 2019 Thomas Cook is teetering on the brink of collapse as it rushes to find a rescue deal in eleventh-hour talks with its lenders. The world’s oldest holiday company is holding make-or-break discussions with creditors today as it fights to avoid collapsing into administration. The firm has urged its lenders to slash the standby funding they [...]
BT lines up Champions League bid as it looks to retain lucrative rights September 22, 2019 BT is gearing up to defend its control of Champions League TV rights as the telecoms giant cashes in on price rises in its broadcast division. BT Sport paid £1.2bn in 2017 to secure exclusive rights to Champions League and Europa League matches for three seasons, cementing its control of European football coverage. Read more: [...]
Brexit negotiations ‘moving forward with momentum’, says Barclay September 21, 2019 Brexit Secretary Stephen Barclay insists the UK and EU are “moving forward with momentum” toward a Brexit deal after meeting chief negotiator Michel Barnier in Brussels on Friday. Barclay said the two sides shared a “common purpose” in trying to reach a new agreement and that he had held “serious, detailed discussion” with his counterpart. [...]
EU keen to secure Brexit deal, says Stephen Barclay after ‘detailed’ talks September 20, 2019 The EU and the UK have a “shared desire” to clinch an exit deal before 31 October, Brexit secretary Stephen Barclay said today, though Ireland sounded a negative note on today’s talks. Saying that “no-one” wants a no-deal Brexit, Barclay added that the two sides have held “serious detailed discussions” in a bid to reach [...]
Harriet Harman won’t ‘back down’ in bid to replace Speaker John Bercow September 20, 2019 Labour MP Harriet Harman has refused to “back down” in her bid to become the next House of Commons speaker after her constituency party spoke out against her running for the post. The Camberwell and Peckham constituency party voiced “disquiet” after she threw her hat in the ring to succeed John Bercow, who has said [...]