The Latest
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Apple Maintains Prices on New iPhones Despite Inflation
Apple revealed its next line-up of iPhones, which will boast better cameras, faster processors, and a longer lasting battery at the same prices as last year’s model, despite the mounting pressure of inflation that has driven up the cost of other everyday items.
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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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Elizabeth Holmes Looms Over Trial of Former Lover, Partner
In opening statements Tuesday, a federal prosecutor depicted Sunny Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos’ blood-testing technology.
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PG&E Fined $4 Million in Deaths of 84 People in 2018 Fire
Pacific Gas & Electric on Thursday was fined $4 million for the deaths of 84 people killed in a nightmarish Northern California wildfire ignited by its long-neglected electrical grid. The sentencing comes as the nation’s largest utility prepares to end a 17-month bankruptcy proceeding triggered by the catastrophe.
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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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PG&E's Bankruptcy Plan Strides Toward Approval in California
California regulators are being advised to approve Pacific Gas & Electric’s plan to emerge from bankruptcy with new controls designed to prevent a recurrence of the utility’s past bad behavior that has resulted in deadly wildfires, infuriating blackouts and high electricity rates. If approved, a proposed decision issued Monday by Administrative Law Judge Peter Allen will enable PG&E to...
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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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Judge Refuses to Approve Fire Victims Letter Attacking PG&E
A federal judge has refused to put his stamp of approval on a letter to Northern California wildfire victims from attorneys who allege that Pacific Gas & Electric may be breaking its promises as it tries to preserve a plan for getting out of bankruptcy in an unraveling economy. The decision issued late Tuesday by Bankruptcy Judge Dennis Montali bolsters…
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Another Member of Fire Panel Resigns, Criticizes PG&E Plan
The former chief financial officer for a Northern California city destroyed in a 2018 wildfire caused by Pacific Gas & Electric equipment is trying to upend the utility’s plan for getting out of bankruptcy because she believes the company is shortchanging the people devastated by its misconduct. Karin Gowins, the former comptroller for Paradise, told The Associated Press Friday that…
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Regulators Mull Reversing $462M Increase in PG&E Fire Fines
California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million over a series of deadly Northern California wildfires rather than risk that the harsher punishment might scuttle the utility’s plan to get out of bankruptcy. The state’s Public Utilities Commission is mulling whether to pare the penalties faced...
