Sparks and outagesLast week PG&E told state regulators that it detected a problem on an electrical transmission line near the site of the blaze minutes before the fire broke out. The utility later said it observed damage to a transmission tower on the line, and a PG&E spokeswoman said the company will cooperate with any investigations. … [Read more...] about California wildfires could cost utilities PG&E and Edison, despite new law
Business bankruptcy law
This is an amazing feat—how did the campaign blow through nearly $1 billion to so little effect?—yet also inevitable. The Trump 2020 campaign seems to be running on the same principle as many of the president’s commercial endeavors: Trump gets richer, while other people’s money gets lit on fire. This was how some of the president’s real-estate ventures and casinos operated, and so it’s unsurprising that it’s how he’s chosen to run his campaign—and the country. … [Read more...] about Trump Is Running His Campaign Like He Ran His Businesses
“We want the insurance industry, which is in the business of assessing and managing risk, to be part of the solution. We want them to have skin in the game so they’re actively engaged with loss mitigation,” he said. “The reason that there’s no particular insurance market for this now is that the insurance industry hasn’t really developed coverage descriptions for this type of event. The exposure is sort of unlimited.” … [Read more...] about Business groups back pandemic insurance bill modeled on post-9/11 law
'Notwithstanding anything contained in any other law for the time being in force, all powers exercisable by an appropriate regulator, specified under column (2) of the First Schedule, under the respective Acts... in the International Financial Services Centres will be exercised by the Authority in so far as it relates to the regulation of the financial products, financial services or financial institutions, as the case may be.' … [Read more...] about Will IFSCA be the boss of India’s financial markets?
"Moody's negative outlook incorporates the view that additional financial stress for PG&E is likely," Moody's spokesman Joe Mielenhausen said in an email. "Going forward, we will look for signs of additional legislative and regulatory support for the utility as it works through various legal processes." … [Read more...] about PG&E stock price plunges as California wildfires burn