May 15, 2019

Cal Fire determines PG&E equipment caused California's deadliest fire

Photo: Justin Sullivan/Getty Images

Pacific Gas & Electrical's equipment was responsible for causing California's deadliest and most destructive wildfire that killed 85 people and burned 150,000 acres in 2018, investigators said on Wednesday.

The big picture: PG&E — California's biggest utility company — filed for bankruptcy earlier this year in anticipation of facing hefty fines following its equipment being blamed for sparking the Camp Fire. California politicians and utility companies are battling to figure out whether utilities should be allowed to pass along liabilities from fire-related damage claims to taxpayers as wildfires become more frequent and deadly in California. State fire officials have sent the investigation to the Butte County district attorney who will have the authority to pursue a criminal case, per the Modesto Bee.

Go deeper: California utility stock collapses amid wildfire liability concerns

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Updated 8 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 6,294,222 — Total deaths: 376,077 — Total recoveries — 2,711,241Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,811,277 — Total deaths: 105,147 — Total recoveries: 458,231 — Total tested: 17,340,682Map.
  3. Public health: Nearly 26,000 coronavirus deaths in nursing homes have been reported to federal health officials —Coronavirus looms over George Floyd protests across the country.
  4. Federal government: Trump lashes out at governors, calls for National Guard to "dominate" streets.
  5. World: Former FDA commissioner says "this is not the time" to cut ties with WHO.
  6. 🎧 Podcast: The virus didn't go away.

More than 1 in 6 black workers lost jobs between February and April

Adapted from EPI analysis of Bureau of Labor Statistics data; Chart: Andrew Witherspoon/Axios

As is often the case, the staggering job losses in the coronavirus-driven recession have been worse for black workers.

By the numbers: According to a report from the Economic Policy Institute, titled "Racism and economic inequality have predisposed black workers to be most hurt by coronavirus pandemic," more than 1 in 6 black workers lost their jobs between February and April.

Coronavirus could lower GDP by $15.7 trillion

Reproduced from Congressional Budget Office; Chart: Axios Visuals

The CBO released projections on Monday for U.S. nominal GDP to be lower by $15.7 trillion over the next decade than its estimate in January as a result of the coronavirus pandemic.

What they're saying: It predicts that when adjusted for inflation GDP will be $7.9 trillion lower over the next decade and down by $790 billion in the second quarter of this year — a 37.7% quarterly contraction.