The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
SAN FRANCISCO, May 1 (Reuters) - PG&E Corp on Wednesday sought court approval for a $105 million fund to help house victims of the wildfires blamed on the bankrupt California power provider.
PG&E in a filing in U.S. Bankruptcy Court in San Francisco said the fund would cover housing and other urgent needs for many who lost homes in the wildfires in 2017 and 2018.
The biggest of the blazes, last year's Camp Fire, killed more than 80 people and destroyed more than 14,600 housing units, with more than 11,300 lost in the town Paradise, according the California's Department of Finance.
The department said in a report on Wednesday the Camp Fire displaced 83 percent of Paradise's population, contributing to an increase of more than 19,000 people in the population of nearby Chico, which marked the largest numeric population change of any California city last year.
PG&E said its Wildfire Assistance Program was intended for wildfire victims who did not have insurance for their homes or whose insurance for alternate living expenses will be exhausted.
The investor-owned power provider filed for Chapter 11 bankruptcy protection in January in anticipation of potentially billions of dollars in liabilities stemming from wildfires in California linked to or suspected to be linked to its equipment.
San Francisco-based PG&E in its filing said it believes it is probable that authorities will find its equipment sparked November's Camp Fire, California's most destructive and deadliest fire of modern times.
PG&E said it will enter into discussions with committees representing unsecured creditors and wildfire victims in its bankruptcy to find an administrator for its proposed fund as soon as possible.
If no agreement on an administrator is reached, PG&E said it would ask U.S. Bankruptcy Judge Dennis Montali to let it appoint one.
PG&E will ask Montali at a May 22 hearing to give it the green light to establish its proposed fund. (Reporting by Jim Christie Editing by Tom Brown)