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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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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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 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 Clears Another Bankruptcy Hurdle With Debt Refinancing
A federal judge has approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy.
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California Lawmaker Demands Probe of PG&E's Chief Regulator
A state lawmaker on Wednesday demanded an extensive review of the California Public Utilities Commission to determine whether regulators’ lax oversight enabled neglect at Pacific Gas & Electric that triggered catastrophic wildfires, a messy bankruptcy and exasperating blackouts. The request by Assemblyman Adam Gray could turn up the heat on the commission as it prepares to play a key role…
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Judge OKs Nearly $25 Billion for PG&E Fire Victims, Insurers
A federal bankruptcy judge in San Francisco on Tuesday approved two settlements totaling $24.5 billion between PG&E and victims of North Bay wildfires in 2017 and 2018 that were caused by failures in PG&E electrical equipment.
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Memos: Facebook Allowed ‘Friendly Fraud' to Profit From Kids
Newly released court documents reveal that Facebook allowed children to ring up huge bills on digital games while the company rejected recommendations on addressing what it dubbed “friendly fraud.”
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Netflix Raising Prices for 58M US Subscribers as Costs Rise
Netflix is raising its U.S. prices by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago. Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up to two different internet-connected devices simultaneously. Even at the higher price, that plan...
