FTSE 100 faces biggest fall in a month amid Brexit and impeachment worries – business live

Rolling coverage of the latest economic and financial news, as political storms in US and UK worry investorsLatest: Government statement on Thomas CookIntroduction: UK and US united in political dramaImpeachment threat hits stocksCourt docs show Thomas Cook’s financial woes 2.51pm BST There’s plenty of anger in parliament towards Thomas Cook’s former management — its last three CEOs received over £35m in pay and bonuses since 2007.Rachel Reeves MP, for example, says they should be banned from serving as directors elsewhere until the Insolvency Services’s review is complete.Grant Shapps is basically throwing Chris Grayling under a bus, or at least allowing him to be thrown under it, in this debate about Thomas Cook. Review recommended reforms to airline bankruptcy regime, nothing happened. Too busy contracting ferry companies with no boats?Tory MP @HuwMerriman tells Shapps “it’s all about actions not words” as he reminds House of similarities w/ Monarch’s insolvency. @lucianaberger follows up: “it’s appalling that two years on we find ourselves in the same position”.Shapps rejects idea nothing has been done. 2.39pm BST Q: Can anything be done under competition regulations to tackle rival airlines who hiked their prices after Thomas Cook collapsed?Grant Shapps replies he asked the CCA to investigate this very issue yesterday. Continue reading…
Via: FTSE 100 faces biggest fall in a month amid Brexit and impeachment worries – business live