Pacific Gas & Electric Stock Slides As California Lawmakers Block Key Wildfire Insurance Reform: Report
PG&E is trading lower Friday after reports that lawmakers rejected Governor Gavin Newsom's bid to shield utilities from insurance claims.
California lawmakers said no to a plan that would have helped PG&E pay less for wildfire damage claims. When a company faces bigger costs ahead, its stock price usually drops because people worry about its profits.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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