Other News

End of an era for once proud and powerful coal mining industry

The closure of the UK’s last deep coal pit signals the end of an era for a once proud and powerful industry. Miners will work their final shifts tomorrow at Kellingley Colliery in North Yorkshire, leaving many looking for new jobs. Owners UK Coal will also go out of business after the company oversees the closure and transfer of the site for redevelopment.


FTSE opens lower due to lower oil and mining stocks

The London market opened lower this morning dragged lower by oil and mining stocks. The FTSE 100 Index was 20.1 points down at 6424.9, as investors cheer over economic news from China and the European Union at the end of last week faded. On Friday stocks rose after China cut its key interest rate for the sixth time this year, falling by 0.25% to 4.35%, in the hope this will spur growth as the country tries to reduce its reliance on construction and heavy industry.