Bloomberg Shares of California utility owners PG&E Corp, Edison International and Sempra Energy climbed after Governor Jerry Brown indicated that utilities shouldn’t be responsible for future wildfire damages without considering whether they acted “reasonably.” The proposal wouldn’t affect the billions of dollars in potential liabilities PG&E and Edison face for blazes in 2017, Brown said. But it’s a win for ...

Bloomberg Stem Inc, a US provider of energy-storage systems, arra-nged $152 million in commitments from the Ontario Teachers’ Pension Plan to finance projects in the province. The pension plan also contributed to Stem’s $80 million Series D financing announced in January. Stem said in a statement that it has raised an additional $26 million for the round from investors including ...

Bloomberg Indian lenders struggling to recoup loans worth about $20 billion to troubled property developers have to contend with another challenge: A lackluster recovery from the worst home-sales slump this decade. To recover the dues, banks are taking control of land parcels and unfinished projects that can be sold along with loans. This comes at a time when home sales ...

Bloomberg UBS Group AG, the Swiss bank that’s said to be leaning towards Frankfurt for its post-Brexit European Union headquarters, says it’s facing a bill of more than $100.5 million because of Britain’s departure from the bloc. The Brexit tab, revealed by Chief Executive Officer Sergio Ermotti on a conference call on Tuesday, will likely include the cost of relocating ...

Bloomberg Credit Agricole SA is considering the purchase of as much as 10 percent of Italian lender Credito Valtellinese SpA within six months, as it seeks to increase investments in the euro region’s third-largest economy, according reports. The French bank may buy a 5 percent stake and then plans to double its holding. Among its strategic options, Credit Agricole is ...

Bloomberg The Bank of England (BOE) is about to try to put a number on normality. After months of research, the central bank will provide an assessment of the Goldilocks interest rate for the first time when it announces its policy decision on August 2. Known as r* (r-star), it’s the rate that keeps the economy neither too hot nor ...

Bloomberg Standard Bank Group Ltd. has allocated $751 million to fund energy projects in South Africa as the continent’s largest lender by assets grows more confident in its home market and invests in riskier ventures. “We are exceedingly optimistic about the future of this country, more so now than in December,” Lungisa Fuzile, the Johannesburg-based lender’s South African head, said. ...

Bloomberg Credit Suisse is shuttering five more exchange-traded notes next month, eliminating a pair of structured products that let investors bet on swings in stock markets and a trio of notes tied to oil prices. The investment bank, which infamously closed the $1.9 billion VelocityShares Daily Inverse VIX Short-Term ETN, ticker XIV, in February amid a maelstrom in which the ...

Bloomberg US airlines plan to comply with a Chinese government demand that they revise their website identifications of Taiwan to reflect China’s claim on the island territory, said a person familiar with the discussions. The US carriers affected by the mandate — American Airlines Group Inc., Delta Air Lines Inc., United Continental Holdings Inc., and Hawaiian Holdings Inc. — will ...

Bloomberg Ryanair Holdings Plc is pulling a fifth of its planes from its Dublin base this winter as the budget carrier moves to counter intensifying labor unrest causing flight disruptions across Europe. The airline said it will cut its Irish fleet by a fifth to 24 aircraft for winter 2018, blaming pilot walkouts for hurting bookings, air fares and consumer ...