Bloomberg PG&E Corp. said it would replace most of its board as part of a broad overhaul of its governance structure as the California power giant pushes to exit bankruptcy. PG&E said only three of the 14 current directors will remain after the company exits Chapter 11 by mid-year, according to a statement. The utility’s chair, Nora Mead Brownell, will ...

Bloomberg Zero-percent financing deals hit a record last month as carmakers kept the US auto market from collapsing. More than one in every four new vehicles sold in April did so with 0% loans, according to market researcher Edmunds. By opening up the lending spigots, the US avoided a reprise of the almost 80% drop automakers experienced in China in ...

Bloomberg Bank of America Corp. (BofA) is starting to see consumer spending edge higher after plunging with the start of the coronavirus lockdown. The nascent increase, which follows a 30% drop, is showing up as consumers buy more groceries, restaurant meals, clothing and gasoline, Chief Executive Officer Brian Moynihan said in an interview on CNBC. US aggregate spending averaged about ...