maybe for best known for owning wolverhampton wanderers the ball club and quite a flashy figure and we have here then what looks like a clash of business cultures in a way you have this chinese new money coming in to rescue the oldest tour operator in the world and coming up against a more traditional institutional investments wall with the banks who have appeared to have stopped this deal have been going through yes indeed it hasn't appeared to have worked but have we heard any reaction from them at all well it's been interesting they said in a statement that they had deepest sympathy for the people who were who'd been shocked by this they basically they're putting the blame i think that going through the language very much of the at the feet of the banks and saying that it's their fault and we may not have heard the last votes and yes and we can maybe something left to run this story turning to you really then how does thomas cook's collapse impact the larger travel sector. well some people think that it will take over capacity out of the market and the benefits of those that remain

it involves the chinese company fosun — which also owns club med and wolverhampton wanderers — puttingnsferring some of the debt they are owed into shares in the company and lots of other people involved in giving it the say—so, but the banks have said, "unless you've got another £200 million available to see you through the winter, then we're not going to go ahead with this". and furthermore, just to make things even more lively at the political party conference season, 1st of october, a week on monday, their atoll license becomes due for renewal and they can't really continue as a package holiday company without that. so, lots of deadlines, lots of talks. that was simon calder. iran has warned that any military strike on its country, will lead to the destruction of the attacker. it comes after last week's attack on saudi oil production facilities — which the us has blamed on iran. major general hossein salami, reiterated tehran‘s defiance after the us announced it was sending more troops to shore up defences in saudi arabia and the united arab emirates. translation: anyone who wants

major stake in clu b operator, which has a major stake in club med, for example, anthony wolverhampton wanderers and lenders came up and said, we think that you need an extra £200 million in contingency funds in case things looks like over the winter months and to tide you three. this has taken the company by surprise. it isa has taken the company by surprise. it is a lot of money but we know they are scrabbling around, speaking to the stakeholders and trying to raise the money. they say they think there is a reasonable chance of success , there is a reasonable chance of success, that is what company sources are telling us but on the other hand they do admit that the next 24—hour is will be crucial. what does that mean if you have a booking with thomas cook? if you are one of those 150,000 plus people we know who are already on the holiday with thomas cook from the uk, the good news is if you have a package holiday you are covered by atol and there will be plans to bring you home if you are stranded for any reason. but we must emphasise we are not there yet but this is nail—biting times for thom

that that is going to go through and it involves the chinese company which owns club med and wolverhampton wanderersis transferring some of their debt that they are owed into shares in the company, and lots of other people involved in giving it the say—so. but the banks have said unless you have got another £200 million available to see you through winter, we will not go ahead with this and furthermore, just to make things even more lively, at the political party conference season, first of 0ctober, one week on monday, thomas cook their license becomes due for renewal. and they cannot really continue as a package holiday company without it. lots of deadlines, lots of talks. changes the mood because even if technically planes are taking off and coming back this morning, if you are a customer and you have booked a holiday or are away at the moment and you hear all of this about money and you hear all of this about money and licenses, you will think limey! what should i do? if you are away the best thing you can do is sit by the best thing you can do is sit by the pool, order a drink and relax u nless