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California Fire Liability Poses Threat to PG&E, a Major Utility
25 days ago - By NY Times
The company's stock has been cut almost in half since last week as investors assess the potential payout if its equipment is found to blame.
Read more ...Canada Goose, Tahoe rise; Macy's, Blue Apron fall
25 days ago - By Chron
NEW YORK - Stocks that moved substantially or traded heavily Wednesday:
PG&E Corp., down $7.13 to $25.59
People who lost their homes in California's deadliest and most destructive wildfire sued the utility for negligence and blamed it for the fire.
Tahoe Resources Inc., up $1.07 to $3.27
The company is being acquired by Pan American Silver Corp. in a stock-and-cash deal valued at more than $1 billion.
Snap Inc., down 23 cents to $6.48
The company behind Snapchat received federal subpoenas related to a class-action lawsuit stemming from its 2017 initial public offering.
Macy's Inc., down...
Read more ...PG&E rout may be hitting hedge funds after raised bets before fire
25 days ago - By Reuters
Prominent hedge funds, including Baupost Group and Viking Global Investors, may be bearing the brunt of utility PG&E Corp's tumbling share price after raising bets on the utility in the months ahead of the Camp Fire, California's deadliest wildfire.
Read more ...PG&E outlook ominous if utility is found responsible for California's worst wildfire
25 days ago - By Stl Today
Northern California utility Pacific Gas and Electric said Wednesday that if it is deemed responsible for the fire that destroyed much of Paradise, the liability would exceed its insurance coverage. The cause of California's most destructive and deadly wildfire has...
Read more ...PG&E shares and bonds plunge as California wildfire risks mount
25 days ago - By Reuters
PG&E Corp, the electricity provider in the northern California region ravaged by a deadly wildfire, warned that it could face "significant liability" in excess of its insurance coverage if its equipment caused the blaze, sending its shares and bonds sharply lower.
Read more ...
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