On Thursday, Shares of Peabody Energy Corporation (NYSE:BTU), lost -13.40% to $2.78, hitting its lowest level.
Peabody Energy Corporation, said Monday it would cut 250 corporate and regional positions in the coming months, saving $40 million to $45 million annually, according to American City Business Journals.
The disclosure came after a Business Journal inquiry Friday.
Peabody said in 2011 it had 500 employees at the Gateway One Building, 701 Market St. Peabody spokesman Vic Svec said in an email Monday that about 50 jobs out of 425 in the St. Louis office will be affected. American City Business Journals Reports.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments. It is involved in mining and sale of thermal coal to electric utilities and metallurgical coal for industrial customers.
Shares of American International Group, Inc. (NYSE:AIG), inclined 0.50% to $61.99, during its last trading session, hitting its highest level.
American International Group, declared that Nan Shan Life Insurance Co., Ltd. has agreed to purchase AIG Taiwan Insurance Co. Ltd.’s consumer and small to mid-size enterprise (SME) businesses for US$158 million (NT$4.923 billion).
The deal is predictable to close in the second half of 2016, subject to necessary regulatory approvals.
This transaction reflects AIG’s intent to focus on its robust commercial insurance presence in Taiwan, while realizing the value of its strong consumer operation through this divestiture to Nan Shan. AIG has a long-standing relationship with Nan Shan and the two companies expect to remain business partners in the future.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises.
Finally, PPL Corporation (NYSE:PPL), ended its last trade with 1.03% gain, and closed at $30.53.
On June 1, PPL Corporation accomplished the spinoff of its competitive energy business, which was right away combined with the generation assets owned by Riverstone Holdings to form a new independent power producer called Talen Energy Corporation.
The spinoff, which unlocks value for shareowners, completes PPL’s transition to a company solely focused on high-performing regulated utilities in both the United States and the United Kingdom. That transition comprised of the acquisition of Louisville Gas and Electric and Kentucky Utilities, in addition to the expansion of the company’s U.K. operations in recent years.
“Over the past five years, we’ve transformed PPL into one of the top 10 utility companies in the U.S., and reshaped it in ways that have preserved and grown value for our shareowners,” said William H. Spence, chairman, president and Chief Executive Officer of PPL.
PPL Corporation, a utility company, delivers electricity and natural gas in the United States and the United Kingdom. It serves 321,000 natural gas and 397,000 electric customers in Louisville and 16 surrounding counties; and 543,000 customers in 77 Kentucky counties and 5 counties in Virginia.
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