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  • 150,00 Brits Stranded As Thomas Cook Collapses

    From orbex.com

    The seemingly never-ending Brexit saga has taken a strange turn this week! World-famous travel company Thomas Cook has plunged into insolvency, creating travel chaos. The firm has been battling financial difficulties in recent months, exacerbated by the Brexit uncertainty. Despite last-minute negotiations, which many hoped would save the company, Thomas Cook has now “ceased trading with immediate effect” according to the UK Civil Aviation Authority (CAA). The collapse of the firm has had an immediate and severe impact on many UK holidaymakers. According to figures from the firm, 150,000 UK citizens are now ... (full story)

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  • Post #1
  • Quote
  • Sep 23, 2019 6:24am Sep 23, 2019 6:24am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 2,983 Comments
Repatriating these unfortunate people will cost at very minimum over £30mio..
I suspect closer to £80-£100 mio. Maybe government should have been better to lend the £200mio they needed to avoid this?
Just a Thought.
 
 
  • Post #2
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  • Sep 23, 2019 6:34am Sep 23, 2019 6:34am
  •  Aich
  • | Joined Jan 2008 | Status: Member | 49 Comments
Its all covered by a fund created to kick in when travel agencies go broke.
 
 
  • Post #3
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  • Sep 23, 2019 6:42am Sep 23, 2019 6:42am
  •  TraderTero
  • | Joined Apr 2017 | Status: Member | 1,034 Comments
First Brexit casualty. Brits travel less because of Brexit and weaker pound.
 
 
  • Post #4
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  • Sep 23, 2019 6:56am Sep 23, 2019 6:56am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 2,983 Comments
If only..
The Bank of England analysis show that that voting to leave the European Union has cost Britain more than £440 million a week in lost growth since the referendum, thats £727 per second...
Suggests current loss £75b, and counting.
Cant see GBP rallying much from here unless major breakthrough?
 
1
  • Post #5
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  • Sep 23, 2019 6:58am Sep 23, 2019 6:58am
  •  mrslow81
  • | Joined Jan 2017 | Status: Member | 26 Comments
Quoting TraderTero
Disliked
First Brexit casualty. Brits travel less because of Brexit and weaker pound.
Ignored
Maybe brexit is the straw that broke the camel's back, however, this company was in a mess long before then.
 
2
  • Post #6
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  • Sep 23, 2019 7:38am Sep 23, 2019 7:38am
  •  RazorFitch
  • | Membership Revoked | Joined Sep 2019 | 456 Comments
Just a question, UK as a hub just like any other hub, they rely on surrounding customers for survival. Singapore relies on China and other Asian countries, Dubai relies on the Middle East, and so forth... UK relies on Europe as trading and financial hub. So, in case of Brexit, what the heck UK is thinking to rely on? Africa ? Brexit will spell a disaster on every business in UK
 
4
  • Post #7
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  • Sep 23, 2019 8:31am Sep 23, 2019 8:31am
  •  renko4x
  • | Joined Feb 2016 | Status: good bye FF | 4 Comments
Quoting RossEdwards
Disliked
If only.. The Bank of England analysis show that that voting to leave the European Union has cost Britain more than £440 million a week in lost growth since the referendum, thats £727 per second... Suggests current loss £75b, and counting. Cant see GBP rallying much from here unless major breakthrough?
Ignored
Can we believe the numbers form Central Bank?

https://www.armstrongeconomics.com/i...tting-suicide/

Read it and you will see that UK is trending down since they joined EU. EU is Titanic. UK is first one jumping the sinking ship. Others will follow. Nothing lasts forever.
 
 
  • Post #8
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  • Sep 23, 2019 8:42am Sep 23, 2019 8:42am
  •  UKBanter
  • | Joined Mar 2017 | Status: Member | 910 Comments
Quoting TraderTero
Disliked
First Brexit casualty. Brits travel less because of Brexit and weaker pound.
Ignored
Likely to have happened anyway, Weakening pound been continuous six months after carnage got into office along with the standard ultra low interest rates. (2014) way before vote (which we were expected to remain). Blame BREXIT? Tom C's biggest crime was not to move with he times.
 
 
  • Post #9
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  • Sep 23, 2019 9:05am Sep 23, 2019 9:05am
  •  Skracor247
  • Joined Oct 2008 | Status: Price made me do it. (0.0) | 360 Comments
So this couldn't possibly have been because of poor management of the company...
 
 
  • Post #10
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  • Sep 23, 2019 10:16am Sep 23, 2019 10:16am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 2,983 Comments
Quoting renko4x
Disliked
{quote} Can we believe the numbers form Central Bank? https://www.armstrongeconomics.com/i...tting-suicide/ Read it and you will see that UK is trending down since they joined EU. EU is Titanic. UK is first one jumping the sinking ship. Others will follow. Nothing lasts forever.
Ignored
Hi renko4x.. I was surprised by your post.
And opened with interest the link you kindly provided.
I read the first paragraph and in the third sentence it found a fundamental lie.
"Britain loses EVERY trade argument in the EU Court."
The UK in recent years has lost 75% of cases brought before the ECJ.
And why so high? Because EU Commission only brings cases it expects to win.
Does this give UK cause to complaint? No.. UK does better than France, which loses 90%.

(Incidentally the UK normally wins significant cases,
and also benefits when ECJ ensure EU law is properly enforced in other countries.)

Now these matters are easily verifiable, so such a statement in the Link provided is either result of negligence or a deliberate attempt to distort and promote a false agenda and support and argue a false conclusion.
Either way I stopped reading.
Why? because with respect I have serious reservations about the link you kindly and in good faith provided.

"
 
 
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  • Posted: Sep 23, 2019 6:10am
  • Submitted by:
     Orbex
    Category: Fundamental Analysis
    Comments: 10  /  Views: 4,522
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