U.S. coal companies battered by investors in 2019, leading sector index drops 53%

first_imgU.S. coal companies battered by investors in 2019, leading sector index drops 53% FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):A stock index of U.S. coal companies headed into the last full day of 2019 trading at half the level seen at the beginning of the year as unease around the future of coal counterbalanced the sector’s pivot to cleaner balance sheets and shareholder return programs.While stocks in the S&P 500 increased 28.5% year-to-date as of Dec. 30, the SNL Coal Index dropped 53.5% over the same period. A challenging market, environmentally conscious investment initiatives and coal company-specific challenges drove many U.S. coal stocks down throughout the year despite a supportive presidential administration and industrywide efforts to avoid debt and approach growth cautiously.Shares of thermal coal producer Foresight Energy LP, which was recently removed from the New York Stock Exchange, lost nearly all of its value this year as the company struggled to make a debt payment. Contura Energy Inc. was declining steadily through the year but saw its share price get cut in half after announcing third-quarter earnings results.Many companies in the coal sector went through a bankruptcy reorganization in the last five years or so, emerging with billions of debt wiped from their balance sheets. Companies such as Peabody Energy Corp., the largest coal company in the U.S., have seen their stock price fall despite buybacks and other attempts to satisfy shareholders.U.S. coal companies are unlikely to get much relief soon, particularly in domestic markets. The fuel’s share of U.S. electricity generation has already dropped from 45% in 2010 to a projected 25% in 2019, according to the U.S. Energy Information Administration. Analysts with Moody’s Investors Service and Morgan Stanley & Co. LLC recently projected that coal’s share of generation could go as low as 11% or 8%, respectively, by 2030. [Taylor Kuykendall]More ($): Coal stocks value halved as broader market shone through 2019last_img read more

Tourists forced to write ‘sorry’ 500 times over India lockdown breach

first_imgPolice have come up with unusual methods to encourage people to stay home to halt the spread of the deadly disease, including wearing coronavirus-shaped helmets.But officers in some states were also seen in videos on social media beating drivers on roadsides and making people out and about during lockdown do squats and leapfrogs as punishment.On Sunday, police said they arrested nine people violating the lockdown after an officer’s hand was chopped off in northern Punjab state’s Patiala district.The group were stopped in a vehicle at a checkpoint and — refusing to turn back as ordered — hit the accelerator and smashed into steel barricades, officials said.During the clash, one of the group pulled out a sword, slicing off a policeman’s hand. Six more officers were injured in the attack, police said.India’s Prime Minister Narendra Modi is expected to extend a nationwide lockdown that was originally slated to end on Tuesday, for another two weeks.Some states have already extended the restrictions.On Sunday, India had registered more than 8,300 coronavirus cases and 273 deaths from the disease.Topics : Ten foreigners who broke a coronavirus lockdown in an Indian town made famous by the Beatles, were forced to repent by writing “I am so sorry” — 500 times, officials said Sunday.The nationwide lockdown was imposed near the end of March, with residents permitted to leave their homes only for essential services such as buying groceries and medicine.The travelers — from Israel, Mexico, Australia and Austria — were caught taking a walk in Rishikesh, where the Beatles sought spirituality at an Ashram in 1968. Local police officer Vinod Sharma said they were each made to write “I did not follow the rules of lockdown so I am so sorry” 500 times.More than 700 foreign tourists from the US, Australia, Mexico and Israel staying in the area had flouted the lockdown rules, Sharma said, adding the unusual punishment was handed out to teach them a lesson.Police said they would direct hotels in the area to allow foreign guests to step out only if accompanied by local helpers.Establishments that did not follow the order could face legal action, Sharma said.last_img read more

Volcano vs Air Travel Airports reopen after frustrating flight disru

first_imgSource = e-Travel Blackboard: C.F Aviation authorities will try to minimize further flight disruptions from a Volcano in Iceland, which temporarily closed three of Europe’s biggest airports yesterday. Britain’s Civil Aviation Authority said it agreed with airlines, regulators and engine manufacturers that new rules needed to be enforced that would allow planes to fly for a limited time through higher ash densities. Going into effect midday Tuesday, the new rules are subject to airlines getting a guarantee from their engine makers that their aircraft can safely tolerate the ash.British budget carrier Flybe is the first carrier that has satisfied these conditions, but it expected other airlines will follow suit soon and European authorities are likely to introduce similar rules.Commenting on the new rules, British air traffic control company NATS said, “There is mounting evidence that aircraft can fly safely through areas of medium density, provided some additional precautions are taken. “This is now what has been agreed,” the company’s CEO Richard Deakin said. “As a result of this change, there are no predicted restrictions on U.K. airspace in the immediate future.”London’s Heathrow and Gatwick airports and Amsterdam’s Schiphol Airport reopened yesterday after the dense volcanic ash dissipated.All three airports have warned travelers that it would take time for airlines to clear the backlog of delayed flights and to contact their airlines before travelling to the airport. All British, Scottish and Irish airspace will remain open at least until early Tuesday, but airspace over the North Sea was still restricted, affecting some helicopter operations.A Qantas spokesperson told e-Travel Blackboard that two QF flights which left Sydney on Sunday afternoon – one flying via Bangkok and another via Singapore – had to be diverted to Frankfurt before arriving in the UK three hours behind schedule. The spokesperson confirmed that all Qantas flights scheduled to leave Australia on Tuesday would be departing as planned. <a href=”http://www.etbtravelnews.global/click/25ff1/” target=”_blank”><img src=”http://adsvr.travelads.biz/www/delivery/avw.php?zoneid=10&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a>last_img read more