China has implemented measures to stimulate buying interest in stocks, resulting in an upswing for producers of metals and other raw materials. The country's finance ministry and stock-market regulator have introduced strategies such as halving the tax on stock trades and limiting sales by major shareholders in companies that haven't issued sufficient dividends.
Gold Futures Gain Support
Gold futures have seen an increase in value, finding support as the U.S. dollar and Treasury yields stabilize. This has alleviated some of the recent pressure on the price of the precious metal.
Leadership Change at Fortescue Metals
Fortescue Metals announced that the CEO of its metals business has resigned after just six months in the position. This news comes as the company reports a 23% decline in annual profit, partly attributed to a significant write-down.
Prevalence of Black Lung Disease
An alarming statistic from the National Institute for Occupational Safety and Health reveals that approximately one in five miners in the Central Appalachia coalfields of West Virginia, Kentucky, and Virginia now suffer from black lung disease, also known as coal workers' pneumoconiosis. This devastating illness, caused by prolonged dust exposure that scars lung tissue and restricts breathing, has seen a resurgence in the past two decades after reaching a low point in the 1990s.