PG&E workers repair power lines destroyed by the Camp fire in November. Photo: Justin Sullivan/Getty Images

In an effort to shield itself from billions of dollars in potential liability costs for its role in California's deadly wildfires, utility company PG&E is considering filing for bankruptcy protection for parts or all of its business, Reuters reports.

Background: The company's equipment was linked to 17 wildfires in 2017, and PG&E has been in crisis mode since it disclosed an outage minutes before last year's Camp fire began. PG&E said on Friday that it's shaking up its board of directors and is reportedly looking to sell its natural gas division to raise cash, according to NPR. With Friday's losses, PG&E's share price has dropped 60% since the Camp fire broke out. A spokesperson told Axios that PG&E "does not comment on market rumor or speculation."

Go deeper

20 mins ago - Podcasts

The fight over fracking

Fracking has become a flashpoint in the election's final week, particularly in Pennsylvania where both President Trump and Joe Biden made stops on Monday. But much of the political rhetoric has ignored that the industry has gone from boom to bust, beset by layoffs, bankruptcies and fire-sale mergers.

Axios Re:Cap digs into the state of fracking, and what it means for the future of American energy, with Bob McNally, president of Rapidan Energy Group.

Democrats sound alarm on mail-in votes

Photo: Mark Makela/Getty Images

Democrats are calling a last-minute audible on mail-in voting after last night's Supreme Court ruling on Wisconsin.

Driving the news: Wisconsin Democrats and the Democratic secretary of state of Michigan are urging voters to return absentee ballots to election clerks’ offices or drop boxes. They are warning that the USPS may not be able to deliver ballots by the Election Day deadline.

Nxivm cult leader Keith Raniere sentenced to life in prison

Carts full of court documents related to the U.S. v. Keith Raniere case arrive at the U.S. District Court for the Eastern District of New York in May 2019. Photo: Drew Angerer/Getty Images

Nxivm cult leader Keith Raniere, 60, was sentenced to 120 years in prison on Tuesday in federal court for sex trafficking among other crimes, the New York Times reports.

Catch up quick: Raniere was convicted last summer with sex trafficking, conspiracy, sexual exploitation of a child, racketeering, forced labor and possession of child pornography. His so-called self-improvement workshops, which disguised rampant sexual abuse, were popular among Hollywood and business circles.