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Thomas Cook future looks brighter

Thomas Cook announce plans for "calmer waters" Credit: Rui Vieira/PA Wire

Tour operator, Thomas Cook, has announced a £425 million fundraising with shareholders in a bid to cut debt.

The firm, based in Peterborough, has also revealed details of a £1.6billion refinancing plan. The news comes at a time when trade is "encouraging" and the travel agent say they have seen a 10% reduction in the number of holidays left to sell compared with last year.

Under new chief executive Harriet Green, Thomas Cook also said it cut losses to £275.6 million for the seasonally quieter half year to March 31.

Pupils in Tunstall share a cup of tea with Prince Charles

Prince Charles is visiting The Co-Operative Academy as part of his visit to Tunstall. Credit: ITV News Central
Prince Charles last visited Stoke-on-Trent in January 2013 Credit: ITV News Central
The Prince's Trust has helped more than 700,000 young people since 1976. Credit: ITV News Central

Prince Charles greeted by pupils at new academy

Credit: ITV News Central

Prince Charles has been greeted by pupils at The Co-Operative Academy in Stoke-on-Trent, as part of his visit to the city.

The academy moved to its new £23m building in September 2012.

The Prince of Wales is returning to the city to view the progress which is being made by his charities in their efforts to regenerate Stoke-on-Trent.

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Prince Charles arrives in Stoke-on-Trent

Prince Charles was last in Stoke-on-Trent in January 2013. Credit: ITV News Central

The Prince of Wales has returned to Stoke-on-Trent to see the progress being made by his charities, in an effort to regenerate the city.

He began his visit in The Co-Operative Academy in Tunstall, where he met graduates, pupils and youth leaders.

Severn Trent rejects international takeover offer

Coventry-based water company Severn Trent, has rejected a preliminary takeover offer from several international investors, including Borealis infrastructure and the Kuwait Investment Office, saying the offer undervalued the business.

"The board of Severn Trent has reviewed the proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent," the company said.

On Tuesday, the water company announced it had received a takeover approach. Financial News magazine reported that it could be around £5billion.

Campaign launched to protect markets

Birmingham's wholesale market is being relocated in three years. Credit: PA

The Love Your Market Campaign kicks off today, raising awareness of local markets around the UK.

Market stall holder's in the Midlands took five of the 11 awards at this year's Markets of the Year Awards, including Birmingham's Frankfurt Christmas Market.

Eric Pickles, Secretary of State for Communities and Local Government has welcomed the support of the markets industry, which has set a target of 500 markets getting involved in this year’s events, in addition to 3,000 new traders.

The Love Your Market campaign is now in its second year.

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