Bloomberg PG&E Corp expects its looming bankruptcy to take about two years to resolve and has arranged $5.5 billion to fund its operations during the process. Its shares and bonds both gained. Four banks agreed to provide debtor-in-possession fun-ding including a $3.5 billion revolving credit facility, the embattled California utility said in a filing. “It’s a pretty substantial amount of ...

Half or a quarter of the way through this interesting experiment with an incessantly splenetic presidency, much of the nation has become accustomed to daily mortifications. Or has lost its capacity for embarrassment, which is even worse. If the country’s condition is calibrated simply by economic data — if, that is, America is nothing but an economy — then the ...

The European Central Bank (ECB) needs to wake up. Of all major central banks, it’s the one that really should be reacting to an evident economic slowdown in its backyard. There’s a danger this might turn into a recession, Europe’s third in a decade. But being proactive is not in its nature. Its Achilles’ heel is running monetary policy via ...