Pit closure package costs 1 billion pounds sterling

Article Abstract:

British Coal chairman Neil Clarke announced the closure of 40% of British coal mines by the end of 1992. Over 30,000 jobs will go by March 1993, attracting generous redundancy payments of up to 37,000 pounds sterling. This will cost the Treasury 1 billion pounds sterling. The increase in gas-fired power generation is said to be the reason for the coal industry's problems. Mr Clarke expects it to produce dearer electricity although Pres of the Board of Trade Michael Heseltine maintains it will make cheaper electricity.

United Kingdom, Economic aspects, Mergers, acquisitions and divestments, Finance, Mining industry, Coal industry, Severance pay, British Coal Corp.

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Charting the course of a swift packet

Article Abstract:

The courier industry has seen a 20% reduction in business but as the recession ends new customers will be sought. This business is worth around 1.81 billion pounds sterling in the UK. The future will not involve just a speedy delivery but also letting the customer know where the package is and when it has been delivered. Maaging director of DHL Peter Davies says that customs barrier removal has led to increased business in Europe and the single market has resulted in considerable reductions in delivery times.

Innovations, Postal service, Courier services, Express delivery services

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