Disposals vital to survival of Thomas Cook
14th May 2012 08:51
Struggling tour operator Thomas Cook has posted details to shareholders of its proposed disposals which it says are vital to the continued existence of the company. A meeting is to be held on May 29th at which shareholders will get to vote on the sale of Thomas Cook's interest in HCV to Iberostar,
Read moreMonday broker round-up - UPDATE
14th May 2012 07:48
Antofagasta: AlphaValue downgrades from add to sell, target cut from 1,201.3p to 915p. Avanti Communications: Jefferies reiterates buy rating and 600p target. Chariot Oil & Gas: Jefferies keeps buy rating and 355p target; Merchant Securities keeps buy recommendation and 232.1p target. Dignity: In
Read moreMonday newspaper round-up: Elections, Benefits, Jobs
14th May 2012 07:07
German Chancellor Angela Merkel suffered an electoral setback yesterday as opposition to European austerity measures spread across the continent. The German chancellor may be tempted to rethink her approach after her allies in the country's largest state, North Rhine-Westphalia, lost 9 per cent of t
Read moreThomas Cook hopes for late rush as losses widen
11th May 2012 09:38
Under pressure travel firm Thomas Cook said that summer bookings have improved in recent weeks but, as expected, first half seasonal losses have widened. Though audited figures are not yet available, the group reckons it made an operating loss of £262.7m in the six months to March 31st, compared to
Read moreThomas Cook appoints new CFO
9th May 2012 11:31
Thomas Cook, the struggling package tour operator, has appointed Michael Healy as its new Chief Financial Officer. The current CFO, Paul Hollingworth, has decided to step down following the group's desperate, but ultimately successful, raising of long-term financing. Healy, formerly Group Finance
Read moreThomas Cook surges on refinancing
8th May 2012 08:45
Fears over the future of Thomas Cook have been allayed by a new financing package which the cash-strapped package tour firm has agreed with its lenders. The new terms of the existing £1.4bn finance facility extend the maturity of Thomas Cook's financing until May 31st, 2015, and have revised financ
Read moreThomas Cook's third party insurer backs out
11th Apr 2012 12:10
Thomas Cook saw its shares take yet another hit after it was revealed that credit insurance provider Euler Hermes withdrew its cover for the firm's third party suppliers. The embattled travel company was backed into a corner after the news was reported elsewhere, prompting the company to release a
Read moreLondon midday: Miners provide a drag on Footsie
10th Apr 2012 11:53
- Friday's US jobs data dampens sentiment - Rising exports push China into trade surplus - Randgold bounces back after Malian settlement The Footsie had fallen by nearly one whole percentage point by Tuesday lunchtime as investors digested a gloomy jobs report from the US which came out on Friday.
Read moreBroker tips: M and S, Petropavlovsk, Thomas Cook
10th Apr 2012 11:09
Panmure Gordon has reiterated its hold rating and 390p target price for high street retailing giant Marks and Spencer ahead of its fourth quarter trading update next week. The broker forecasts 0.6% like-for-like sales growth for General Merchandise during the last three months of the fiscal year, c
Read moreBroker snap: Investec pleased with Thomas Cook's financing talks
10th Apr 2012 11:04
Investec has maintained its buy recommendation for travel firm Thomas Cook after the group confirmed that it is in discussions with its banks on extending the maturity of its loans out to 2015 and beyond. "This is stated in the press to be at more painful terms (talks of banks taking 5% of equity)
Read moreTuesday broker round-up
10th Apr 2012 09:14
Domino Printing: Jefferies reiterates hold rating and 580p target. Hargreaves Services: Jefferies maintains buy rating and 1,495p target. Marks & Spencer: Panmure Gordon keeps hold recommendation and 390p target. Michael Page: Panmure Gordon retains sell rating and 348p target. Petropavlovsk: No
Read moreThomas Cook edges towards new banking terms
10th Apr 2012 08:35
Struggling travel firm Thomas Cook has confirmed it is in talks with its bankers about extending its financing arrangements. The statement comes after weekend press speculation it would conclude a £1.2bn refinancing deal. The main problem for Thomas Cook has been a lack of customers taking package
Read moreTuesday newspaper round-up: Thomas Cook, Mortgages, North Korea
10th Apr 2012 05:59
Debt-laden tour operator Thomas Cook is in advanced talks with its banking group about agreeing a £1.2bn deal to secure the future of the company. The beleaguered company said it was close to striking the agreement with its banking group, just months after the latest refinancing deal which secured a
Read moreSunday newspaper round-up: Executive pay, Tesco, Thos Cook ...
8th Apr 2012 17:51
The Chancellor of the Exchequer, George Osborne, has given the clearest signal yet that the 45p top tax rate is here to stay, the Sunday Times reports. In comments about the centrepiece of his controversial budget, George Osborne said he was "very happy" with the "competitive" top rate of tax. Bus
Read moreSector movers: Thos. Cook drags travel sector south
3rd Apr 2012 14:37
London has been enjoying a sleepy day, with no major blockbusting moves among the blue-chips. There has been a bit of news-flow affecting the pharmaceuticals sector, with drugs developers Glaxo and Astra both announcing developments. GlaxoSmithKline has received top-line results from seven of the
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