PG&E shares and bonds plunge as California wildfire risks mount

Hundreds of thousands of California homes and businesses started to lose electric power early Wednesday as part of an unprecedented effort by Pacific Gas and Electric Co. to prevent wildfires, the utility said......»»

Nearly 800,000 California homes and businesses can expect to lose electricity for up to several days from Wednesday, in a planned PG&E power shutdown of unprecedented scale due to heightened wildfire risks from high winds, the utility said......»»

By the time David Kaisel got back from selling his flour at a farmers' market, a wildfire in California's Capay Valley had burned both his tractor and the shipping container where he kept some tools. His insurer is set to pay out a sixth of his losses......»»

PG&E Corporation (NYSE: PCG) shares are trading higher after the company reported it agreed to a settlement to resolve all claims on the 2017 Northern California wildfires and the 2018 campfire for $11 billion. read more.....»»

PG&E Corporation (NYSE: PCG) shares were trading higher Tuesday after the California Senate passed a plan to address wildfire impacts on the state’s investor-owned electric utilities. read more.....»»

Shares of PG&E Corporation (NYSE: PCG) are up 27.4% over the past week on optimism that the company can fully recover from its bankruptcy filing related to 2017 and 2018 California wildfire liabilities. read more.....»»

California Governor Gavin Newsom on Friday proposed a new fund to pay for wildfire liabilities and said he would hold the state's largest utility more accountable for insuring safety against the growing number of blazes in the state......»»

One of Bayer's largest shareholders tore into the company's management on Wednesday for underestimating the legal risks of its takeover of Monsanto, setting the stage for a fiery annual general meeting after a 30 percent plunge in the shares......»»

A U.S. judge said on Tuesday that PG&E Corp cannot resume dividends and must use the money to reduce wildfire risk in California, stopping short of more costly measures he proposed earlier this year......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Shares in Germany's Bayer have plunged after a U.S. jury found the Roundup weed killer was a substantial factor in a California man's cancer — the second case that has gone against manufacturer Monsanto, acquired by Bayer last year......»»

Bayer shares plunged more than 10 percent on Monday after a California jury ordered the German company's newly acquired Monsanto subsidiary to pay $289 million for not warning of cancer risks posed by its main weed killer......»»

Shares in Bayer plunged more than 10 percent to their lowest in almost two years after a California jury or.....»»

A rebound in Chinese shares and a rally in Italian bonds failed to keep Europe's spirits up on Tuesday, as a renewed burst of dollar strength and news South Africa had slumped into recession ramped up the pressure on emerging markets again......»»

PG&E shares made a handy gain on Tuesday after a key analyst upgraded the stock. Most of this report has to do with California wildfire liabilities from 2017, and there seems to be a clear path........»»

As the state scrambles for more resources, California wildfire victims claim hundreds of million in losses. California wildfires have scorched the state this summer, and the costs continue to mount. California’s fire agenc.....»»

The wildfires in California have sent shares.....»»

Shares of utility PG&E Corp fell 18 percent on Wednesday after the company warned of liquidity concerns if its equipment was found responsible for starting the Camp wildfire currently raging in California......»»

Insurance may not cover possible Camp Fire liability. California utility company PG&E is watching its stock price continue to erode at a breathtaking.....»»

Shares in PG&E are trading at their lowest level in more than a decade with some Californians who have lost homes saying that the power company is at fault for the state's deadliest and most destructive wildfire......»»