Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
The Federal Reserve and the market are miles apart on interest rate expectations, and the disparity could cost the stock market a 7%-10% drop, economists say.Economyread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and it's hurting America."Economyread more
Bitcoin topped the $13,000 level Wednesday, rallying to its highest price since January 2018.Bitcoinread more
Wayfair drew backlash and calls from some customers for a boycott after employees protested the company's apparent sale of $200,000 of mattresses and bunk beds destined for a...Retailread more
The president raised $6 million alone at a fundraiser he attended at the Trump International Hotel on Tuesday in Washington.Politicsread more
During the foreclosure crisis, investors transformed the single-family home rental market into a formally managed asset class. Now they want new homes.Real Estateread more
The first debates will give most of the contenders their biggest platform yet to present themselves to the American people.Politicsread more
The shutdown of the fire-damaged Philadelphia Energy Solutions refining complex could send gasoline prices higher across the U.S., but particularly in the mid-Atlantic region...Market Insiderread more
President Trump lambastes Twitter, Google and other technology giants for what he claims as their efforts to stifle him.US Economyread more
LOS ANGELES (AP) — One of the largest fires in California history was sparked by Southern California Edison power lines that came into contact during high winds, investigators said Wednesday.
The resulting arc ignited dry brush on Dec. 4, 2017, starting the blaze in Ventura and Santa Barbara counties that resulted in two deaths and blackened more than 440 square miles, according to the investigation headed by the Ventura County Fire Department.
The arc "deposited hot, burning or molten material onto the ground, in a receptive fuel bed, causing the fire," said a statement accompanying the investigative report.
Southern California Edison, a unit of Edison International, didn't immediately return a call seeking comment.
The so-called Thomas Fire destroyed more than 1,000 structures before it was contained 40 days after it began near the city of Santa Paula. A firefighter and a civilian were killed.
A month after the blaze started, a downpour on the burn scar unleashed a massive debris flow that killed 21 people and destroyed or damaged hundreds of homes in the seaside community of Montecito. Two people have not been found.
The investigation was conducted by fire officials in both counties along with the California Department of Forestry and Fire Protection.
Investigators said the Thomas Fire first began as two separate blazes that joined together. They determined the utility was responsible for both ignitions.
Edison previously acknowledged its equipment likely started one of the two fires.
Victims claimed in lawsuits that losses from the blaze and flooding were due to negligence by Edison, which has said it will work with insurance companies to handle the claims. The utility is protected from going bankrupt over the disasters, thanks to a law signed last year that passes excess liability costs on to utility customers.
In Northern California, PG&E Corp. filed for bankruptcy in the face of billions of dollars in potential liability from huge wildfires in that part of the state over the past two years. A blaze in November killed 86 people and destroyed most of the town of Paradise.