Thomas Cook collapses

The world’s oldest travel firm, Thomas Cook, has “ceased trading with immediate effect,” said the UK’s Civil Aviation Authority. That left an estimated 500,000 holidaymakers stranded. The UK government will charter return flights for British travelers, while insurance companies will organise return flights to Germany. The company reportedly had £1.25bn in debt and had secured £900m in fresh financing from investors, but lenders demanded an additional £200m. Thomas Cook was founded in 1841 and employed around 22,000. Sources: Associated Press, BBC, Financial Times, Deutsche Welle and Reuters.

Carmakers issue hard Brexit warning

23 European automotive industry groups warned of a “seismic shift” in case of a no deal Brexit that could lead to higher car prices “on both sides of the Channel”. Sources: AFP, Deutsche Welle and Reuters.

Private banks in Europe under pressure

Profits and investor inflows dropped at European private banks in 2018, according to a study by the consultancy McKinsey. Source: Financial Times.

Rose to lead RBS

Alison Rose was named chief executive of Royal Bank of Scotland, making her the first woman to lead one of the UK’s biggest banks. Sources: BBC, Guardian and Independent.

“Howdy, Modi”

Narendra Modi, India’s prime minister, and Donald Trump, the US president, held a joint rally for roughly 50,000 Indian-Americans in Texas. Sources: BBC, Reuters and Washington Post.

Pizol glacier ‘funeral’

Around 250 people attended a ceremony to mourn the loss of the Pizol glacier in the Swiss Alps, which was declared dead due to climate change. Sources: BBC, Deutsche Welle and NPR.

Agenda

Tuesday 24 September, around 9:30am: The EU General Court will rule on Fiat and Starbucks tax and the European Court of Justice rules on Google ‘right to be forgotten’ cases. Tuesday 24 September, 6pm: Indian Business Chamber of Luxembourg conference on EU-India recruitment and retention. Thursday 26 September, 12noon: Nicolas Mackel of Luxembourg for Finance speaks to the British Chamber of Commerce about “Brexit & beyond”. Saturday 28 September, 10am: Letz Go Gold run to aid children’s cancer support charity.

Here are 3 science & technology stories you may have missed

Digital media: Some podcasts are getting “review bombed” on Apple, dragging down their star ratings, and apparently there’s not much podcasters can do about it, per The Verge. Tech policy: A lawyer in New York wants to repeal the US law the gives websites immunity from user activity, per MIT Technology Review. Space: Early polar expeditions have lessons for future missions to Mars, per 1843 magazine.

TV: Emmy Awards

“Game of Thrones” was named best drama and “Fleabag” best comedy at the Emmy Awards. Sources: ABC, BBC and Los Angeles Times.

Weekend getaways

The Guardian has a list of 10 charming vineyard B&Bs in France, Switzerland and the UK.

Today’s breakfast briefing was written by Aaron Grunwald