World's largest coal producer files for bankruptcy protection

Peabody Energy's decision seen as sign that fossil fuel is threatened by tightening environmental regulation

Peabody Energy, the world's largest privately owned coal producer, has filed for bankruptcy protection in the US following a collapse in commodity prices.

The move was blamed by financial analysts partly on a mistimed and debt-fuelled expansion into Australia, but others saw it as a sign that the most carbon-intensive fossil fuel was threatened by tightening environmental regulation.