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World’s Oldest Travel firm and British travel giant Thomas Cook collapses, stranding hundreds of thousands

Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

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[vc_row][vc_column][vc_column_text]Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

The 178-year-old operator had been desperately seeking £200 million ($250 million) from private investors to save it from collapse.

“Despite considerable efforts, those discussions have not resulted in agreement between the company’s stakeholders and proposed new money providers,” Thomas Cook said in a statement. “The company’s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect,” it added. 

Chief Executive Peter Fankhauser said it was a matter of profound regret that the company had gone out of business after it failed to secure a rescue package from its lenders in frantic talks that went through the weekend.

“I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years,” Fankhauser said in a statement.

“It is a matter of profound regret to me and the rest of the board that we were not successful,” he added.

“This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world,” he further said.

British Prime Minister Boris Johnson pledged to get stranded British travellers home and revealed that the government had rejected a request from Thomas Cook for a bailout of about 150 million pounds ($187.1 million) because doing so would have set up a “moral hazard”.

“It is a very difficult situation and obviously our thoughts are very much with the customers of Thomas Cook, the holiday makers who may now face difficulties getting home we will do our level best to get them home,” he told  reporters on a plane as he headed to the UN General Assembly in New York.

The government said it had hired planes to fly home an estimated 150,000 holidaymakers to the UK, in an operation starting on Monday.

British Transport Minister Grant Shapps said the government had managed to “acquire planes from across the world” to get people home, and call centres had been established to answer travellers’ queries.

Transport Secretary Grant Shapps also announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge,” a separate statement said, describing it as the largest repatriation in peacetime history.

“All customers currently abroad with Thomas Cook who is booked to return to the UK over the next two weeks will be brought home as close as possible to their booked return date,” he said. 

The firm’s creditors held a marathon meeting on Sunday, September 22, to try and work out a deal, followed by a meeting of the board of directors.

 Reports said a collapse of the group would mean the repatriation of 600,000 tourists, including around 150,000 seeking government help returning to the UK.

Two years ago, the collapse of Monarch Airlines prompted the British government to take emergency action to return 110,000 stranded passengers, costing taxpayers some £60 million on hiring planes.

Not only the grounding of its planes, Thomas Cook has been forced to shut travel agencies, leaving the group’s 22,000 global employees, 9,000 of whom are in Britain, out of a job.

Holidaymakers had already reported problems, with guests at a hotel in Tunisia owed money by Thomas Cook being asked for extra money before being allowed to leave, according to reports.

Ryan Farmer, from Leicestershire, told BBC Radio Five’s Stephen Nolan the hotel had on Saturday afternoon summoned all guests who were due to leave to go to reception “to pay additional fees”.

With many tourists refusing to pay on the grounds they had already paid Thomas Cook, security guards were keeping the hotel’s gates shut, refusing to allow guests out, or to let new visitors enter.

“We can’t leave the hotel. I’d describe it as exactly the same as being held hostage,” Farmer said.

Thomas Cook in May revealed that first-half losses widened on a major write-down, caused in part by Brexit uncertainty that delayed summer holiday bookings. The group, which has around 600 stores across the UK, has also come under pressure from fierce online competition.

Cabinet maker Thomas Cook created the travel firm in 1841 to carry temperance supporters by train between British cities. It soon began arranging foreign trips, being the first operator to take British travellers on escorted visits to Europe in 1855, to the United States in 1866 and on round-the-world trips in 1872.

The company was also a pioneer in introducing “circular note” — products that would later become traveller’s cheques.

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Trump says Iran agrees to never have nuclear weapons, rejects $300 billion fund claim

Donald Trump said Iran has agreed to never possess nuclear weapons under a proposed framework, while dismissing reports that the US would provide Tehran with a $300 billion reconstruction fund.

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Donald Trump statement

US President Donald Trump has said that Iran has agreed to a commitment that it will never develop or possess nuclear weapons, describing it as a central element of a proposed understanding between Washington and Tehran.

Speaking about the ongoing diplomatic efforts, Trump also rejected reports suggesting that the United States planned to provide Iran with a reconstruction or investment package worth $300 billion. He described such claims as false and said no such arrangement had been agreed.

The remarks come as discussions continue over a broader framework aimed at easing tensions between the two countries. According to Trump, the understanding would ensure that Iran remains without nuclear weapons while opening the door for future engagement if the terms are respected.

Questions remain over final agreement details

Despite Trump’s comments, several aspects of the proposed arrangement remain unclear because the full text of the agreement has not yet been made public.

Reports indicate that negotiations have involved discussions on sanctions relief, access to frozen assets and potential economic measures linked to Iran’s compliance with future commitments. However, the exact scope of these provisions has not been officially confirmed.

Another key issue is how compliance would be monitored. Details regarding inspections, verification mechanisms and the handling of Iran’s existing nuclear materials have yet to be fully explained.

Further negotiations expected

Officials have suggested that discussions on technical nuclear matters could continue even after the signing of an initial memorandum of understanding. Such talks would likely focus on implementation and verification measures.

The proposed framework is being closely watched internationally, as any agreement between the United States and Iran could have significant implications for regional stability and global non-proliferation efforts.

For now, Trump has maintained that the core objective remains clear: ensuring that Iran never acquires a nuclear weapon while denying reports that Washington has committed to a multibillion-dollar reconstruction fund.

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USA start FIFA World Cup 2026 with dominant 4-1 victory over Paraguay

The USA opened their FIFA World Cup 2026 journey with a dominant 4-1 victory against Paraguay, earning three valuable points in Group D.

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The United States kicked off their FIFA World Cup 2026 campaign in impressive fashion, securing a commanding 4-1 victory over Paraguay in their Group D opener at SoFi Stadium in Los Angeles.

Playing in front of a passionate home crowd, the hosts delivered an attacking display to collect all three points and make an early statement in the tournament. The match also marked a significant occasion as the USA hosted part of the World Cup opening festivities before turning attention to the action on the pitch.

The Americans took control early and maintained pressure on Paraguay throughout the contest. Their attacking movement and clinical finishing helped them establish a comfortable lead, while Paraguay struggled to contain the hosts’ pace and creativity in the final third.

USA seize control after fast start

The United States settled quickly and found success going forward, creating several opportunities through quick passing and aggressive pressing. Their attacking approach paid off as they built momentum and gradually stretched Paraguay’s defence.

Paraguay attempted to respond and managed to get on the scoresheet, but the South American side found it difficult to match the intensity shown by the hosts. The USA continued to create chances and added further goals to put the result beyond doubt.

With the victory, the United States moved to the top section of Group D and gained an important boost in confidence ahead of their upcoming fixtures in the tournament.

Strong opening result for hosts

A winning start is particularly important in a World Cup campaign, and the USA achieved exactly that with a comprehensive performance. The result gives the hosts valuable momentum as they prepare for the next stage of group play.

For Paraguay, the defeat means they will need a strong response in their remaining group matches to keep their hopes of progressing to the knockout rounds alive.

The FIFA World Cup 2026 is being jointly hosted by the United States, Canada and Mexico, with the tournament featuring an expanded format and more participating teams than previous editions.

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Jaishankar raises deaths of three Indian sailors with Marco Rubio, lodges strong protest

External Affairs Minister S Jaishankar conveyed India’s strong protest to US Secretary of State Marco Rubio over an attack that killed three Indian sailors, stressing that lethal action against commercial shipping is unjustified.

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External Affairs Minister S. Jaishankar on Saturday spoke with Marco Rubio and conveyed India’s strong protest over recent attacks on commercial vessels in the Gulf that resulted in the deaths of three Indian sailors.

According to reports, Jaishankar told Rubio that the use of lethal force against commercial shipping was not justified and underlined India’s serious concerns regarding the safety of civilian seafarers operating in the region. The conversation came days after three Indian mariners were killed in an attack on the Palau-flagged tanker Settebello near the Oman coast.

The incident has triggered diplomatic engagement between New Delhi and Washington. India had earlier summoned a senior US diplomat to register its concerns and seek accountability following the attack. The Ministry of External Affairs has emphasized that actions endangering civilian shipping undermine maritime safety and stability in a strategically important region.

India reiterates concern over maritime safety

India has stressed the importance of protecting civilian seafarers and ensuring the security of international maritime commerce. Officials have expressed concern over multiple incidents involving Indian crew members in West Asian waters in recent days.

The deaths of the three sailors have also sparked calls within India for stronger diplomatic efforts to safeguard Indian nationals working aboard commercial vessels in conflict-affected maritime zones.

Background of the incident

The attack involved the tanker Settebello, which was operating near Oman when it was struck during ongoing tensions linked to the conflict involving Iran and maritime operations in the Gulf region. Initial reports indicated that Indian crew members were among those affected, and later confirmations established that three Indian sailors had died in the incident.

India has maintained that civilian shipping should not become a target and has continued diplomatic outreach to ensure the safety and welfare of Indian seafarers working across global shipping routes.

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