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Business Watch: Sterling fears, coal overflow and more
March 28, 2017 / 8:07 PM / 9 months ago

Business Watch: Sterling fears, coal overflow and more

Too much coal?

Haul trucks move coal as seen during a tour of Peabody Energy's North Antelope Rochelle coal mine near Gillette, Wyoming, U.S. June 1, 2016. The haul trucks operating at North Antelope Rochelle Mine hold 380 to 400 tons of material. REUTERS/Kristina Barker

President Trump’s administration has billed his move to re-open federal lands to new coal leases as a win for miners. But a REuters review of company filings shows that coal miners with the most to gain already have enough leases in hand to last well over a decade.

GM rebuffs Einhorn

General Motors rejected a proposal by Greenlight Capital’s David Einhorn to split its common stock into two classes to help boost its share price, saying the plan creates unacceptable risk for the company.

A $1 trillion boost

Saudi Arabia’s decision to cut tax paid by national oil giant Saudi Aramco has increased its value by $1 trillion, according to an analyst’s estimate ahead of Aramco’s IPO.

Sterling fears

London’s currency brokers say the pound’s dramatic fall to levels not seen since the mid-1980s has made companies and ordinary Britons more fearful about sterling than at any time in recent memory.

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