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Consumer Commission orders Thomas Cook and Red Apple Travel to pay Rs 1 crore

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The Delhi Consumer Commission directed travel companies Thomas Cook and Red Apple Travel to pay Rs 1 crore as compensation to Yogesh Saigal for the death of his family members in a road accident during a vacation in Sri Lanka.

Considering the mental and physical trauma faced due to the loss of his family caused by the negligence of the two travel companies, the Delhi State Consumer Disputes Redressal Commission sided with Saigal in an order dated July 1. The loss of livelihood and future prospects of Saigal’s wife were also taken into account.

Saigal, along with his wife, son, daughter, and father-in-law, had booked a vacation package to Sri Lanka through Thomas Cook in November 2019 for Rs 3.56 lakh. This package included accommodations, sightseeing, transportation, and travel insurance.

On December 23, 2019, the vehicle carrying Saigal’s family collided with a container truck in Colombo, resulting in the immediate deaths of his wife, son, and father-in-law. Saigal himself sustained severe injuries, including multiple fractures, and his daughter, Aishwarya, also suffered physical trauma.

The complainant further alleged that a few hours before the commencement of their journey, he was informed that the arrangements in Sri Lanka would be managed by Red Apple Travel, a fact that was not disclosed to him during the booking process.

Saigal further alleged that the involvement of Red Apple Travel was only revealed 36 hours prior to the journey, leaving the family with no option but to proceed or risk forfeiting the entire amount paid.

The aftermath of the accident led to Saigal issuing a legal notice to Thomas Cook on February 24, 2021, seeking Rs. 8.99 crore in damages for negligence, deficiency in services, unfair trade practices, and misleading advertisements. In his complaint, Saigal argued that Thomas Cook had failed in its duty of care by not ensuring safe and reliable contractors for the tour.

(Indian Express)
(Except for the headline, this story, originally published by Indian Express has not been edited by SLM staff)

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Car giant Ford & Barbie maker Mattel warn over tariffs costs

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Barbie maker Mattel says it will put up the prices of some of its toys in the US as President Donald Trump’s tariffs increase its costs.

The firm also says it will cut the number of products it makes in China for the American market.

At the same time, car making giant Ford says the levies will cost it about $1.5bn (£1.13bn) this year.

They join a growing list of big businesses warning about the impact of US tariffs on their companies and the wider economy.

“Given the volatile macroeconomic environment and evolving US tariff landscape, it is difficult to predict consumer spending, and Mattel’s US sales in the remainder of the year and holiday season,” Mattel said as it updated investors on its financial performance.

The US accounts for about half of Mattel’s global toy sales. It imports around 20% of its goods sold there from China.

The company said it plans to reduce those Chinese imports to the US to below 15% by next year.

Since returning to the White House in January, Trump has imposed new import taxes of up to 145% on goods from China.

His administration said last month that when the new tariffs are added on to existing ones, the levies on some Chinese goods could reach 245%.

China has hit back with a 125% tax on products from the US.

Apart from China, Mattel imports products – including Barbie dolls and Hot Wheels cars – from Indonesia, Malaysia and Thailand.

The three countries were also hit with steep tariffs by Trump in April, before they were paused for 90 days.

Last week, Trump acknowledged the potential impact of tariffs. American children might “have two dolls instead of 30 dolls”, he said, but added that China would suffer more than the US.

Carmaker Ford said it expected tariffs to add $2.5bn to its overall costs this year, mainly due to the increased expense of Mexican and Chinese imports.

But the firm said it had cut about $1bn of those added costs by taking various measures, including transporting vehicles from Mexico to Canada to avoid US tariffs.

The firm also suspended its annual earnings guidance to investors because of uncertainty around Trump’s trade policies.

In April, firms including technology giant Intel, footwear makers Adidas and Skechers, and consumer goods group Procter & Gamble detailed the impact of tariffs on their businesses.

“The very fluid trade policies in the US and beyond, as well as regulatory risks, have increased the chance of an economic slowdown with the probability of a recession growing,” Intel’s chief financial officer David Zinsner said during a call with investors.

Sportswear giant Adidas warned tariffs would lead to higher prices in the US for popular trainers, including the Gazelle and the Samba.

The finance chief of footwear firm Skechers, David Weinberg, told investors: “The current environment is simply too dynamic from which to plan results with a reasonable assurance of success.”

And Procter & Gamble – which makes Ariel laundry detergent, Head & Shoulders shampoo and Gillette shaving products – said it was considering changes to its prices to make up for the extra cost of materials sourced from China and other places.

(BBC News)

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CSE to close early for LG polls

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The Colombo Stock Exchange (CSE) has announced that trading hours will be shortened on May 06, in view of the Local Government Elections.

On that day, trading, which commences at 9.30am, will conclude at 12:30pm – two hours earlier than the usual closing time of 2:30pm.

The CSE stated that the decision was made to accommodate the convenience of investors, staff, and other market participants during the election day.

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Coconut prices soar

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Consumers are struggling due to a sharp rise in coconut prices across the country.

Traders say large coconuts now sell for Rs.200 – 250, while smaller ones range from Rs.175 – 190.

The steep price hike is straining household budgets and impacting small businesses that depend on coconuts for daily food preparation.

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