Jan 5, 2019

PG&E considers bankruptcy filing over potential wildfire liability

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."

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Minneapolis unrest as hundreds protest death of George Floyd

Tear gas is fired as police clash with protesters demonstrating against the death of George Floyd outside the 3rd Precinct Police Precinct in Minneapolis, Minnesota, on Tuesday. Photo: Stephen Maturen/Getty Images

Minneapolis police used tear gas during clashes with protesters demanding justice Tuesday night for George Floyd, an African American who died in police custody, according to multiple news reports.

Driving the news: The FBI is investigating Floyd's death after video emerged of a Minneapolis police officer kneeling on his neck for several minutes, ignoring protests that he couldn't breathe. Hundreds of protesters attended the demonstration at the intersection where Floyd died, per the Guardian.

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U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

Virginia Gov. Ralph Northam announced plans Tuesday to make wearing face coverings mandatory statewide for most people over the age of 10 when inside public places like retailers, on public transportation and government buildings. He announced the measure, effective Friday, as coronavirus case numbers increased to 39,342.

By the numbers: More than 98,900 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

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World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Japan is preparing a second coronavirus stimulus package worth $1.1 trillion, or about 40% of the country's gross domestic product, Reuters first reported Tuesday night.

Zoom in: The new measure will be funded by government bonds and will include "a raft of loan guarantees and private sector contributions," per Bloomberg.

Go deeper (2 min. read)ArrowUpdated 1 hour ago - Health