Wyn Ellis News
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Thomas Cook Group Plc, the 172-year- old tour operator that required an emergency loan 18 months ago, plans to raise 1.6 billion pounds ($2.4 billion) to restructure its borrowings as it cuts jobs and closes stores to pare costs.
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Thomas Cook Group Plc says it’s “business as usual” as the U.K. travel company tries to secure financing from lenders. Customers might not wait that long.
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Carnival Corp. fell the most in more than 11 years in London trading after saying the grounding of the Costa Concordia off Italy’s Tuscan Coast that killed at least six people will cost the company as much as $95 million.
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InterContinental Hotels Group Plc, the world’s largest hotel operator by rooms, rose the most in more than eight months after activist investor Nelson Peltz’s Trian Fund Management LP bought a stake in the company.
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EasyJet Plc Chief Executive Officer Carolyn McCall , at the helm since July, must rein in expansion and accept that growth in the discount-airline industry has peaked, the carrier’s founder and biggest shareholder said.
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Thomas Cook Group Plc, Europe’s second-largest tour operator, plunged 75 percent in London trading after a collapse in bookings caused the company to hold fresh talks with banks and delay its full-year results.
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Whitbread Plc , owner of the Premier Inn hotel and Costa Coffee brands, fell the most in almost a year in London trading as a decline in consumer sentiment in Britain indicated retail spending may decline.
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InterContinental Hotels Group Plc , owner of the Holiday Inn brand, said Chief Executive Officer Andrew Cosslett will step down on June 30 and be succeeded by Richard Solomons , currently chief financial officer and head of commercial development.
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A demerger of WH Smith Plc, a U.K. magazine retailer and stationer, Whitbread Plc, owner of the Costa Coffee chain, and the sale of electronics retailer Comet, owned by Kesa Electricals Plc, should wait until consumer spending recovers, analysts say.
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Compass Group Plc , the world’s largest catering company, said full-year profit rose 15 percent and increased its dividend by a third after gaining new contracts and cutting costs at acquired businesses.
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