The Latest
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Former Theranos Executive Sunny Balwani Convicted of Fraud
A jury on Thursday convicted former Theranos executive Ramesh “Sunny” Balwani of collaborating with disgraced Theranos CEO Elizabeth Holmes in a massive fraud involving the blood-testing company that once enthralled Silicon Valley.
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Netflix Reports a Summer Slump in Subscriber Growth
Netflix’s subscriber growth slowed dramatically during the summer months after surging in the spring fueled by pandemic lockdowns that corralled millions of people in their homes.
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PG&E to Purge Most of Its Board in Fallout From Bankruptcy
After emerging from bankruptcy, PG&E will sweep out most of its board.
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Judge OKs PG&E Plan to Pay $19M in Fees From Victims Fund
The Northern California victims of catastrophic wildfires caused by Pacific Gas & Electric’s decaying electrical grid will have at least $19 million siphoned way from a $13.5 billion fund for their losses to cover administrative costs. A bankruptcy judge said he would approve drawing from the victims’ fund as part of a plan reviewed Tuesday during a court hearing. The…
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PG&E Pleads Guilty to 84 Involuntary Manslaughter Counts in 2018 Wildfire
Pacific Gas & Electric will plead guilty to 84 counts of involuntary manslaughter for a swath of death and destruction left behind after its fraying electrical grid ignited a 2018 wildfire that decimated three Northern California towns and drove the nation’s largest utility into bankruptcy.
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Court Approves PG&E's $23B Bankruptcy Financing Package
Pacific Gas & Electric on Monday won court approval to raise $23 billion to help pay its bills over destructive California wildfires after Gov. Gavin Newsom dropped his opposition to a financing package designed to help the nation’s largest utility get out of bankruptcy. The milestone reached during an unusual court hearing held by phone moves PG&E closer to...
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PG&E Settles Key Battle Over $13.5B Wildfire Victims' Fund
Pacific Gas & Electric told a federal bankruptcy judge Tuesday that it has settled a dispute with disaster-relief agencies that threatened to siphon money away from a $13.5 billion fund earmarked for victims of catastrophic wildfires in California caused by the nation’s largest utility. The breakthrough disclosed by a PG&E lawyer during a court hearing in San Francisco could...
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PG&E CEO Blames Past Management for Problems, Promises Fixes
PG&E Corp. CEO Bill Johnson blamed negligence by the company’s past management for a cascade of catastrophes that killed nearly 140 people as he tried to persuade California regulators Tuesday that he is steering the utility to make safety its top priority. Johnson, who was brought in to lead the company 10 months ago, delivered his remarks as the...
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PG&E Still Has Rickety Power Line Near Paradise: Wildfire Victims
Pacific Gas & Electric is still operating a rickety power line near the one that ignited a 2018 wildfire that wiped out the Northern California city of Paradise and killed 85 people, according to an expert inspection conducted as part of a legal claim.
