UAE pharma giant cuts jobs as Saudi ban weighs on finances

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Troubled travel company Thomas Cook is in £750m rescue talks with banks and its largest shareholder, Fosun. The measures, which have not been finalized, would see the Chinese investor buy the firm's tour business. Thomas Cook's chief executive, Peter Fankhauser, said the proposal was "not the outcome any of us wanted" but insisted it was "pragmatic". He told the BBC that customers did not need to worry because their holiday bookings were "secure".


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