Thomas Cook losses widen

German-owned travel company Thomas Cook has vowed it will not sell its British division after it announced increased
losses yesterday and radical restructuring in an attempt to reverse its fortunes.

The firm is cutting 500 jobs in Germany following the announcement that last year's losses widened to €251m (£170m) from €120m the year before. The troubles at the company prompted speculation that it is looking to break itself up. But group chairman Wolfgang Beeser told a press conference yesterday: "We are not selling Thomas Cook UK. Nor will we be disposing of our activities in France, or any of the group's other main units."

Union hits out at Jarvis job cutsMake a trip for an africa safari Sports Betting Odds Online

Engineering firm Jarvis prompted anger among union leaders yesterday by announcing plans to cut 83 rail signalling jobs because of a downturn in demand. The Transport Salaried Staffs Association said it was "crazy" to be shedding jobs at a time when the railway industry had capacity problems.

Tote aims to win new punters

The Tote betting organisation is undergoing a makeover to pull in more and younger punters. Under the rebrand, to be revealed at next week's Cheltenham Festival, fixed-odds betting shops and the internet and phone betting service will be called Totesport, emphasising that the Tote accepts bets on sports other than horseracing. The 59 on-course pool betting operations will be renamed Totepool. The government-owned Tote will be transferred to a racing trust at the end of this year.

Managers quit Goodyear

Goodyear, the Ohio tyre manufacturer, said several senior managers in the European Union had left the company in response to an investigation of improper accounting overseas. It said a significant portion of its review had been completed, though it had not determined whether the result would have a material impact on earnings.

Wind power inflation

Electricity from offshore windfarms will cost at least twice as much as from conventional sources, according to a reportby the Royal Academy of Engineering. The cheapest electricity was from gas turbines and nuclear power stations, it said. Coal generation appeared uneconomic in the future, especially because of the impact of curbing carbon dioxide emissions.

Sanctuary cash-in

The founders of music group Sanctuary have cashed in shares worth £5.8m. Chairman Andrew Taylor and Rod Smallwood offloaded 5.4m and 5.5m shares at 53p each

Source: Guardian