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British travel firm Thomas Cook collapses, leaving hundreds of thousands stranded

British travel firm Thomas Cook collapses, leaving hundreds of thousands stranded

LONDON (Reuters) - The world’s oldest travel firm Thomas Cook ( TCG.L ) collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. The liquidation marks the end of a British company that started in 1841 running local rail excursions before pioneering

Asian shares ease on geopolitical tensions, oil up 1%

Asian shares ease on geopolitical tensions, oil up 1%

SYDNEY (Reuters) - Most Asian share markets slipped on Monday as investors waited for more clarity on the Sino-U.S. trade talks after recent negotiations, while oil gained more than 1% as Middle East tensions remained elevated. Analysts said investor sentiment was fragile with civil unrest in Hong Kong, tensions in the Middle East and worries over

Indonesia finds design flaw, lapses in 737 MAX crash: report

Indonesia finds design flaw, lapses in 737 MAX crash: report

Turkey to support local companies hit by Thomas Cook; 21K customers in country

Turkey to support local companies hit by Thomas Cook; 21K customers in country

ISTANBUL (Reuters) - The Turkish finance and tourism ministries are working on a loan support package for local companies affected by the collapse of travel firm Thomas Cook ( TCG.L ), the Tourism Ministry said on Monday. It said on Twitter that 21,033 Thomas Cook customers were currently on holiday in Turkey, adding the package will be put into effect

Some on WeWork’s Board Are Said to Be Discussing Replacing Its C.E.O.

Some on WeWork’s Board Are Said to Be Discussing Replacing Its C.E.O.

Some board members and large investors in WeWork are privately discussing whether and how to replace the company’s co-founder, Adam Neumann, as chief executive to salvage the company’s fortunes, three people involved in the talks said. Among those now favoring removing the charismatic but sometimes erratic Mr. Neumann is SoftBank, the Japanese technology

Thomas Cook collapse boosts rival holiday companies, budget airlines

Thomas Cook collapse boosts rival holiday companies, budget airlines

LONDON (Reuters) - Thomas Cook’s ( TCG.L ) collapse boosted shares in TUI ( TUIGn.DE ) and budget airlines easyJet ( EZJ.L ) and Ryanair ( RYA.I ) on Monday as investors pinned hopes on the tour operator’s closure cutting capacity in the saturated European holiday market. The world’s oldest travel firm went out of business on Monday, stranding some

Morrison needs to question Trump on trade: Labor

Morrison needs to question Trump on trade: Labor

Prime Minister Scott Morrison needs to leverage Australia’s relationship with the United States in order to end the US-China trade war, according to Labor frontbencher Tim Watts. While visiting the US Mr Morrison threw his support behind President Trump’s trade demands, especially regarding allegations of intellectual property theft by Beijing. The

Labour's McDonnell says Thomas Cook bosses should pay back bonuses

Labour's McDonnell says Thomas Cook bosses should pay back bonuses

BRIGHTON, England (Reuters) - Thomas Cook bosses should have to pay back any bonuses they have received, Britain’s opposition Labour Party finance spokesman John McDonnell said on Monday following the travel firm’s collapse. McDonnell, asked if executives should have to repay bonuses, said: “Too right.” “I think they need to really examine their own

Malindo Air says data leak caused by ex-staffers at contractor firm

Malindo Air says data leak caused by ex-staffers at contractor firm

KUALA LUMPUR (Reuters) - Indonesian Lion Group’s Malaysian subsidiary Malindo Air said on Monday that two former employees of its e-commerce contractor were responsible for its passenger data breach. Malindo Air made the breach public last week after Moscow-based cybersecurity firm Kaspersky Lab said in a report that the details of around 30 million

Factbox: Lessors scramble to recover dozens of jets from Thomas Cook

Factbox: Lessors scramble to recover dozens of jets from Thomas Cook

(Reuters) - Aircraft leasing companies are launching moves to recover dozens of Airbus passenger planes after the collapse of British travel group Thomas Cook ( TCG.L ), market sources said. The overall group operates a fleet of 85 Airbus planes and 31 Boeing jets, or a total of 116 aircraft based across Europe, according to data from UK-based aviation