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A burning structure collapses during the Kincade fire in Geyserville, California on Oct. 24. Photo: REUTERS/Stephen Lam TPX Images of the Day

At least 58,000 acres have burned in California from 14 ongoing fires, the earliest of which sparked in September, the Los Angeles Times reports. Five of those fires started Thursday, and one began Friday.

What's happening: The Kincade fire, which started Thursday and has already blazed through 21,900 acres — namely in Northern California’s wine country — is currently the largest fire in the state. 50,000 people near the Tick fire in Santa Clarita were ordered to evacuate on Friday, and California Gov. Gavin Newsom declared a state of emergency in the counties affected by those two wildfires.

  • At least 2 teenage girls died in Mexico's Baja California peninsula from wildfires, CNN reported on Saturday. There are currently 4 major fire hotspots near the U.S.-Mexico border, per the Times.
  • Pacific Gas & Electrical — which was deemed responsible for causing California's deadliest fire in 2018 — said Friday that 850,000 customers are expected to lose power over the weekend in a preventative power shutoff, CBS reports. Shutoffs are expected from 1-5 pm on Saturday in Napa County.
  • Many of the 2,000 people ordered to evacuate in response to the Kincade fire on Thursday left in darkness after PG&E shut Sonoma County's power off to prevent the further spread of fires.

Where it stands: Onshore wind is expected to effect the area at the Tick Fire on Saturday afternoon, NWS Los Angeles reports, with continued warm and dry weather across southwest California. Only 5% of the Tick and Kincade fires were contained as of Friday evening, per the Times.

The big picture: Last year, California endured its deadliest and most destructive fire in history, which took 85 lives and burned thousands of homes and businesses across the state.

Go deeper: Californians endure second round of PG&E blackouts

Editor's note: This story has been corrected with the accurate death toll of California's Camp Fire.

Go deeper

Erica Pandey, author of @Work
1 hour ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

Mike Allen, author of AM
2 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.