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Thomas Cook check-in desks at London Gatwick Airport. Photo: Rick Findler/PA Images via Getty Images

Thomas Cook, the world's oldest travel firm, confirmed in a statement early Monday that it's gone into administration, immediately ceasing trading and operations.

Why it matters: Per the Financial Times, after weekend rescue package talks between Thomas Cook and the British government, lenders and shareholders broke down, the company's collapse left 150,000 travelers stranded abroad — as the Civil Aviation Authority puts together the "biggest emergency repatriation in peacetime."

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

What's happening: The collapse means 21,000 employees in 16 countries are set to lose their jobs, including 9,000 people in the United Kingdom, AP reports.

  • More than 600,000 travel bookings have been canceled, per AP, which notes an estimated 1 million future vacationers will be affected by booking cancelations. However, many should get refunds under a government travel insurance plan.
  • British Transport Secretary Grant Shapps said authorities had hired charter planes to fly customers back free of charge, per the BBC.

What they're saying: Thomas Cook CEO Peter Fankhauser said in the company's statement, "It is a matter of profound regret to me and the rest of the board that we were not successful" in negotiating a deal.

  • Schapps defended deciding against giving the 178-year-old British company a requested bail-out, telling the BBC it was a poor candidate for survival because of its substantial debts and focus on main street.

Background: Thomas Cook reported a first half-loss of 1.4 billion pounds ($1.7 billion)  earlier this year. The company blamed factors including a prolonged heatwave in 2018 and Brexit uncertainty.

  • It said Friday it needed 200 million pounds ($250 million) to avoid financial collapse, AP notes.
  • Thomas Cook's largest shareholder, the Chinese company Fosun, had planned to contribute 450 million pounds ($559) in a rescue deal, but the plan fell through, per the FT.

Editor's note: This article has been updated with new details throughout.

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Infectious disease expert Anthony Fauci highlighted the need to address racial disparities in the COVID-19 vaccination process, per an interview with The New England Journal of Medicine on Wednesday.

What he’s saying: "I think that's the one thing we really got to be careful of. We don't want in the beginning ... most of the people who are getting it are otherwise, well, middle-class white people."

The Mischief Makers

Illustration: Sarah Grillo/Axios

Several Republican and Democratic lawmakers are emerging as troublemakers within their parties and political thorns for their leadership.

Why it matters: We're calling this group "The Mischief Makers" — members who threaten to upend party unity — the theme eclipsing Washington at the moment — and potentially jeopardize the Democrats' or Republicans' position heading into the 2022 midterms.

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What they're saying: Cody Keenan told Axios that Biden's messaging team has "struck all the right chords," but at some point "they're gonna have to answer questions like, 'Why didn't you achieve unity?' when there's an entire political party that's already acting to stop it."

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