News > Travel

Hedge funds could reap as much as $250 million from the collapse of British tour operator Thomas Cook

While the bankruptcy of British tour operator Thomas Cook has left hundreds of thousands of travelers stranded , a group of hedge funds are poised to make as much as $250 million from the company's collapse.
Funds including Sona Asset Management and XAIA Investment owned derivative investments called credit default swaps, which pay investors when a company can no longer service its debt, Bloomberg said in a report.
The company entered into compulsory liquidation on Monday after efforts to restructure it's debt with key investors failed, according to a statement .
Visit the Markets Insider...
Read more ...

Travel Company Thomas Cook Goes Bankrupt, Tourists Stranded

24 days ago | By NPR

British travel company Thomas Cook has collapsed, leaving 150,000 British vacationers stranded overseas. NPR's Steve Inskeep talks to Financial Times reporter Daniel Thomas.
Read more ...

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

24 days ago | By Reuters

The world's oldest travel firm Thomas Cook collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. Ciara Lee reports
Read more ...

Hundreds of thousands stranded after British travel firm Thomas Cook collapses

24 days ago | By Reuters

Hundreds of thousands of holidaymakers were stranded on Monday by the collapse of the world's oldest travel firm Thomas Cook , sparking the largest peacetime repatriation effort in British history.
Read more ...

Thomas Cook leaves thousands stranded after financial collapse

24 days ago | By New York Post

LONDON - British tour company Thomas Cook collapsed early Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad. The British government said the return of the 178-year-old firm's 150,000 British customers now in vacation spots across the globe would be the largest repatriation in its peacetime history. The process...
Read more ...

Search by Tags

Travel Market World BusinessNews

Elijah Cummings, longtime Maryland congressman, dies at 68

He was widely known across the country as the chairman of the House Committee on Oversight and Reform. Read more ...

'Please bring this to a safe end': Alabama police plead for return of...

The Birmingham Police Department again asked for the public's help in finding 3-year-old Kamille "Cupcake" McKinney, who was kidnapped on Oct. 12. Read more ...

Father of boy killed in Sandy Hook massacre wins defamation suit

Leonard Pozner, whose son 6-year-old Noah was killed in the 2012 Sandy Hook massacre, was awarded $450,000 in damages by a Wisconsin jury from a defamation lawsuit filed in... Read more ...

This Day in History: 6.9 magnitude Loma Prieta earthquake hits California

On this day in 1989, the 6.9 magnitude Loma Prieta earthquake hit the San Francisco Bay Area, killing 63 people, injuring more than 3,700 and causing more than $6 billion in... Read more ...

Sheriff: Son of 'Tarzan' actor Ron Ely allegedly killed his mother before...

The son of "Tarzan" actor Ron Ely killed his mother before he was shot and killed by deputies on Tuesday, according to the Santa Barbara County Sheriff's Office. Read more ...

U.S. Rep. Elijah Cummings, Maryland Democrat and House Oversight chairman...

Yahoo could pay you $358 for its massive data breach settlement. Here's how...

Was your Yahoo account among the 3 billion struck by multiple data breaches between 2013 and 2016? You might be eligible for a $358 payout. Read more ...

Rep. Carolyn Maloney to chair Oversight panel after Elijah Cummings' death

A veteran House Democrat from New York City will for now take over the House committee that the late Rep. Elijah Cummings has chaired. Rep. Carolyn Maloney will serve as acting... Read more ...

Britain's Johnson Hails New Brexit Deal With EU

The prime minister said Thursday that he'd forged a new agreement that would allow the European Union to keep collecting VAT tax from Northern Ireland and allow special... Read more ...

Toyota to hire 400 workers at Kentucky plant

Toyota says it is adding 400 employees at a Kentucky plant with starting pay of more than $18 an hour. Read more ...