Markets Right Now: Stocks erase an early gain and head lower

The latest on developments in financial markets (all times local): Continue Reading Below 11:45 a.m. Stocks turned lower in midday trading, erasing a modest early rally and extending the market's losses from a day earlier. Technology stocks and banks were taking some of the heaviest losses Wednesday, outweighing gains in industrial companies and other sectors. Apple fell 1.8 percent and […]

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PG&E plunges 14% after disclosing an 'electric incident' just before wildfire

Shares of utility PG&E fell 14 percent on Wednesday after the company said its insurance wouldn’t cover its cost if it’s found responsible for the Camp Fire. “If the Utility’s equipment is determined to be the cause, the Utility could be subject to significant liability in excess of insurance coverage,” the company said. The utility company also discloses that it […]

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PG&E shares plummet as California burns

The California state Capitol is viewed through the smoke from the Camp Fire, Tuesday, Nov. 13, 2018, in Sacramento, Calif. Smoke from the Camp Fire, which has been burning since last Thursday nearly 90 miles north of Sacramento, has blanketed much of Northern California. The fire has destroyed thousands of homes and killed dozens of people. (AP Photo/Rich Pedroncelli) Shares […]

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Ukrainian PM blames local officials for heating crisis

Ukraine's prime minister on Wednesday accused local officials of causing a crisis that has left hundreds of thousands without heating in freezing weather. Continue Reading Below Several towns, and neighborhoods in two big cities, were left without heating after national gas company Naftagaz raised prices that some struggling municipalities said they couldn't afford to pay. Naftagaz refuses to resume supplies […]

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Italy faces higher borrowing costs, sanctions on budget

Italian borrowing costs have risen after the populist government resubmitted draft budget proposals without the significant changes sought by the European Commission. The EU's executive branch acknowledged receipt of Italy's letter and said it would issue its response next week. The Commission had asked for revisions because it said the budget plans would prevent Italy's huge debt burden from falling. […]

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Wife of former Malaysian leader faces new graft charges

Malaysia's anti-graft agency said Wednesday the wife of ex-Prime Minister Najib Razak will face new corruption charges, along with two former government officials and a businessman. The agency said Rosmah Mansor will be charged Thursday with Najib's former special officer, Rizal Mansor, in a case linked to a solar energy project for rural schools in eastern Sarawak state on Borneo […]

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Cleveland Cavaliers owner selling Detroit casino in $1B deal

Businessman and Cleveland Cavaliers owner Dan Gilbert has reached a $1 billion agreement to sell the Greektown Casino-Hotel in downtown Detroit, one of the city's three casinos, companies involved in the deal announced Wednesday. Continue Reading Below Gilbert's Detroit-based JACK Entertainment said it planned to sell the casino to Pennsylvania-based Penn National Gaming and New York-based VICI Properties. The deal […]

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