Extraordinary Items - Euro's spread chequed by legal action.
As if the euro hasn't got enough problems, it's being sued.
Well, the European Commission is being sued by Thomas Cook’s soon-to-be-sold travellers cheques subsidiary Interpayment Services, alleging that the euro symbol bears an uncanny – and trademark infringing – resemblance to Interpayment’s logo (see left). Judge for yourself. The plaintiffs are claiming damages worth #25.5m plus interest, according to City law firm Lovells, although Thomas Cook says it wants to negotiate a settlement. It’ll take a big pile of travellers cheques to settle this one, we think.
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