| Updated:
UK Coal posts increased losses
Coal miner UK Coal expects to post a higher interim loss of about £94m, up from £81.5m, despite the global rise in coal prices. The firm blamed its recent refinancing, which cost £7.5m in legal fees, and a £10m drop in property values. Its operating loss will be £52m, it said in its six month trading update. Shares dropped 13 per cent to 33p yesterday.