Thomas Cook's chief executive was silent as he left a crisis meeting in which the firm pleaded for a £200million bailout. Dr Peter Fankhauser, 58, emerged from a day-long meeting negotiating with creditors in a final bid to secure a rescue package to keep the company afloat. The boss of the world's oldest travel company walked out of the service exit of law firm Latham & Watkins, in Bishopsgate, central London, surrounded by colleagues after the meeting ran from 9am until shortly before 5.30pm. Dr Fankhauser, who is a Swiss businessman, did not answer questions when he was asked whether Thomas Cook and their creditors had reached a deal. He was also asked whether the company would consider approaching the government for a taxpayer-funded bailout or whether he had anything to say to Thomas Cook's customers but again refused to comment. Video Loading Video Unavailable Click to play Tap to play The video will start in 8Cancel Play now The location of the … [Read more...] about Thomas Cook CEO silent after leaving crisis talks to beg for £200million bailout
Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper. My brother and his partner (in their early 30s) live in a one-bed flat and never host the family Christmas – they always come to us. We’ve never asked for cash before, but it’s quite a burden, given they eat and drink a lot, and stay for a week or more. How do other people handle this situation? Do you have a problem readers could solve? Email your suggestions to [email protected] or write to us at Money, the Guardian, Kings Place, 90 York Way, London N1 9GU. Topics Money You're the expert Christmas features Share on Facebook Share on Twitter Share via Email Share on LinkedIn Share on Pinterest Share on WhatsApp Share on Messenger Reuse this content … [Read more...] about Can you ask family to contribute financially at Christmas?
A money-making scheme being promoted by Joanna Lumley says it can help people achieve a “life-changing” income – and claims those who climb to the top of the “Stairway to Success” can earn up to £1m a year. Yet Guardian Money found that the average amount being earned is less than £12 a week – and that’s before costs are taken into account. This “opportunity of a lifetime” is offered by energy and communications company Utility Warehouse, which says it has enabled many people “to be their own boss, give up their job and even retire early with complete financial security”. A template letter that the firm’s representatives can print off and send to would-be recruits asks: “Want to take control of your life?” and then says tantalisingly: “I’ll show you how to make a lot of money.” But do the claims stack up? So-called “multi-level marketing” (MLM) schemes such as … [Read more...] about Utility Warehouse: is its ‘life-changing’ scheme really ab fab?
Thomas Cook has approached the UK government for a bailout in a potential lifeline for worried holidaymakers. The British travel firm has requested an extra £200m pounds ($250 million) after lenders threatened to pull out of a proposed rescue deal, putting the 178-year-old company at risk of collapse. The crisis threatens to wreck the holiday plans of thousands of Brits who may be left stranded in destinations around Europe and beyond. Reports say there are currently 600,000 Thomas Cook customers abroad - of which around 150,000 are British. A further 9,000 British jobs potentially could be lost and 21,000 worldwide. Have you been warned about your holiday plans being affected? Email [email protected] Those on a package holiday are ATOL-protected, which means if the worst does happen, then the Civil Aviation Authority would be ordered by the Department for Transport to launch a major repatriation operation to fly them home. The operation would be the biggest the … [Read more...] about Thomas Cook asks government for £200m bailout as 150,000 holidaymakers face being stranded
Video Loading Video Unavailable Click to play Tap to play The video will start in 8Cancel Play now A £100million taxpayer-funded operation is underway to bring 150,000 stranded Brits back to the UK after Thomas Cook collapsed. In the hours after the travel firm - which has been in operation since 1841 - ceased trading, the government has come under fire for not putting a rescue package together. And calls have been mounted for senior figures within the company to return generous bonuses as 9,000 UK workers saw their jobs wiped out. At 2am this morning, chief executive Peter Fankhauser confirmed a deal to save the struggling business could not be reached. People who are travelling on holidays that leave today have been told not go to the airport. Have you been affected by the Thomas Cook chaos? Email [email protected] Customers currently overseas should check thomascook.caa.co.uk for advice and only go to the airport once they have an alternative flight … [Read more...] about Thomas Cook collapse recap: First flights of repatriated Brits arrive home in £100m rescue