PG&E shares surge 40 percent on report regulator wants to avoid bankruptcy from wildfire
SAN FRANCISCO/LOS ANGELES (Reuters) - PG&E Corp shares soared 40 percent in after-hours trade on Thursday following a report that a regulatory official told investors the agency does not want the utility to go into bankruptcy should it be found responsible for this month's deadly wildfire in northern California. Bloomberg reported the comment by a California Public Utilities Commission (CPUC) official on a call hosted by Bank of America Corp, citing a person familiar with the matter. A CPUC spokesman said he could not confirm the remarks ...
Click
To Read Full Article