Economy

economy news

Need for Speed: Carts on Rails Help Manila’s Commuters Dodge Gridlock

Thousands of commuters flock to Manila’s railway tracks every day, but rather than boarding the trains, they climb on to wooden carts pushed along the tracks, to avoid the Philippine capital’s infamous traffic gridlock.

The trolleys, as the carts are known, most of them fitted with colorful umbrellas for shade from the sun, can seat up to 10 people each, who pay as little as 20 U.S. cents per ride, cheaper than most train rides.

“I do this because it gives us money that’s easy to earn,” said Reynaldo Diaz, 40, who is one of more than 100 operators, also known as “trolley boys,” who push the carts along the 28-km (17-mile) track, most wearing flimsy flip-flops on their feet.

“It’s better than stealing from others,” said Diaz, adding that he earned around $10 a day, just enough for his family to get by. A trolley boy since he was 17, he lives in a makeshift shelter beside the track with his two sons.

Diaz said the trolley boys were just “borrowing” the track from the Philippine National Railways, but the state-owned train company has moved to halt the trolley service after the media drew attention to its dangers recently.

The risk arises because those pushing and riding the trolleys have to watch out for the trains to avoid collisions.

“Of course we get scared of the trains,” said Jun Albeza, 32, who has been a trolley boy for four years after he was laid off from plumbing and construction jobs.

“That’s why, whenever we’re pushing these trolleys, we always look back, so we can see if there’s a train coming. Those in front of us will give us a heads-up too.”

When a train approaches, the trolley boys quickly grab the lightweight carts off the track and jump out of the way along with their riders.

Still, there have been no fatal accidents since the makeshift service started decades ago, some of the trolley boys told Reuters.

A Manila police officer confirmed that records showed no casualties related to the trolley boys.

“It is really dangerous and should not be allowed, But we understand that it’s their livelihood,” said the officer, Bryan Silvan. “They’re like mushrooms that just popped up along the tracks and they even have their own association.”

When the Philippine National Railways began operation in the 1960s, its network of more than 100 stations extended to provinces outside Manila.

But neglect and natural disasters have since caused it to cut back operations by two-thirds, even as the capital’s population has ballooned to about 13 million.

For office workers and students, the minutes shaved off daily commutes justify the risks of trolley rides.

“The distance to our workplaces is actually shorter through this route,” said one office worker, Charlette Magtrayo.

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Need for Speed: Carts on Rails Help Manila’s Commuters Dodge Gridlock

Thousands of commuters flock to Manila’s railway tracks every day, but rather than boarding the trains, they climb on to wooden carts pushed along the tracks, to avoid the Philippine capital’s infamous traffic gridlock.

The trolleys, as the carts are known, most of them fitted with colorful umbrellas for shade from the sun, can seat up to 10 people each, who pay as little as 20 U.S. cents per ride, cheaper than most train rides.

“I do this because it gives us money that’s easy to earn,” said Reynaldo Diaz, 40, who is one of more than 100 operators, also known as “trolley boys,” who push the carts along the 28-km (17-mile) track, most wearing flimsy flip-flops on their feet.

“It’s better than stealing from others,” said Diaz, adding that he earned around $10 a day, just enough for his family to get by. A trolley boy since he was 17, he lives in a makeshift shelter beside the track with his two sons.

Diaz said the trolley boys were just “borrowing” the track from the Philippine National Railways, but the state-owned train company has moved to halt the trolley service after the media drew attention to its dangers recently.

The risk arises because those pushing and riding the trolleys have to watch out for the trains to avoid collisions.

“Of course we get scared of the trains,” said Jun Albeza, 32, who has been a trolley boy for four years after he was laid off from plumbing and construction jobs.

“That’s why, whenever we’re pushing these trolleys, we always look back, so we can see if there’s a train coming. Those in front of us will give us a heads-up too.”

When a train approaches, the trolley boys quickly grab the lightweight carts off the track and jump out of the way along with their riders.

Still, there have been no fatal accidents since the makeshift service started decades ago, some of the trolley boys told Reuters.

A Manila police officer confirmed that records showed no casualties related to the trolley boys.

“It is really dangerous and should not be allowed, But we understand that it’s their livelihood,” said the officer, Bryan Silvan. “They’re like mushrooms that just popped up along the tracks and they even have their own association.”

When the Philippine National Railways began operation in the 1960s, its network of more than 100 stations extended to provinces outside Manila.

But neglect and natural disasters have since caused it to cut back operations by two-thirds, even as the capital’s population has ballooned to about 13 million.

For office workers and students, the minutes shaved off daily commutes justify the risks of trolley rides.

“The distance to our workplaces is actually shorter through this route,” said one office worker, Charlette Magtrayo.

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Lawmakers Attempt to Rein in President’s Tariff Power

U.S. lawmakers on Wednesday introduced legislation to limit the president’s power to levy import tariffs for national security reasons. The bills face an uncertain future but underscore bipartisan concerns on Capitol Hill over the rising costs of the Trump administration’s trade policies.

The United States in 2018 slapped duties on aluminum and steel from other countries, drawing criticism from lawmakers who support free trade and complaints of rising supply chain costs across business sectors.

Two bipartisan groups of lawmakers Wednesday introduced legislation known as the Bicameral Congressional Trade Authority Act in the Senate and the House of Representatives.

The bills would require Trump to have congressional approval before taking trade actions like tariffs and quotas under Section 232 of the Trade Expansion Act of 1962. The law currently allows the president to impose such tariffs without approval from Capitol Hill.

“The imposition of these taxes, under the false pretense of national security (Section 232), is weakening our economy, threatening American jobs, and eroding our credibility with other nations,” said Republican Senator Pat Toomey of Pennsylvania, co-sponsor of the Senate bill.

Toomey led a similar push last year that did not go to a vote.

It is unclear that Congress would consider taking up such legislation now. Still, the bills underscore mounting pressure from lawmakers to address concerns over tariffs, especially those on Canada and Mexico as lawmakers prepare to vote on a new North American trade deal agreed to late last year.

​Republican Chuck Grassley from Iowa, chairman of the Senate Finance Committee, earlier pressed the Trump administration to lift tariffs on steel and aluminum imports from Canada and Mexico before Congress begins considering legislation to implement the new pact.

Numerous business and agricultural groups have come out in support of the United States-Mexico-Canada agreement, but have said its benefits will be limited so long as the U.S. tariffs and retaliatory tariffs from Canada and Mexico remain in place.

Companies are able to request exemptions from the steel and aluminum tariffs, but the process has been plagued by delays and uncertainty.

“Virginia consumers and industries like craft beer and agriculture are hurting because of the president’s steel and aluminum tariffs,” said Democratic Senator Mark Warner, co-sponsor of the Senate legislation. “This bill would roll them back.”

Republicans Mike Gallagher of Wisconsin and Darin LaHood of Illinois and Democrats Ron Kind of Wisconsin and Jimmy Panetta of California introduced the House legislation.

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Lawmakers Attempt to Rein in President’s Tariff Power

U.S. lawmakers on Wednesday introduced legislation to limit the president’s power to levy import tariffs for national security reasons. The bills face an uncertain future but underscore bipartisan concerns on Capitol Hill over the rising costs of the Trump administration’s trade policies.

The United States in 2018 slapped duties on aluminum and steel from other countries, drawing criticism from lawmakers who support free trade and complaints of rising supply chain costs across business sectors.

Two bipartisan groups of lawmakers Wednesday introduced legislation known as the Bicameral Congressional Trade Authority Act in the Senate and the House of Representatives.

The bills would require Trump to have congressional approval before taking trade actions like tariffs and quotas under Section 232 of the Trade Expansion Act of 1962. The law currently allows the president to impose such tariffs without approval from Capitol Hill.

“The imposition of these taxes, under the false pretense of national security (Section 232), is weakening our economy, threatening American jobs, and eroding our credibility with other nations,” said Republican Senator Pat Toomey of Pennsylvania, co-sponsor of the Senate bill.

Toomey led a similar push last year that did not go to a vote.

It is unclear that Congress would consider taking up such legislation now. Still, the bills underscore mounting pressure from lawmakers to address concerns over tariffs, especially those on Canada and Mexico as lawmakers prepare to vote on a new North American trade deal agreed to late last year.

​Republican Chuck Grassley from Iowa, chairman of the Senate Finance Committee, earlier pressed the Trump administration to lift tariffs on steel and aluminum imports from Canada and Mexico before Congress begins considering legislation to implement the new pact.

Numerous business and agricultural groups have come out in support of the United States-Mexico-Canada agreement, but have said its benefits will be limited so long as the U.S. tariffs and retaliatory tariffs from Canada and Mexico remain in place.

Companies are able to request exemptions from the steel and aluminum tariffs, but the process has been plagued by delays and uncertainty.

“Virginia consumers and industries like craft beer and agriculture are hurting because of the president’s steel and aluminum tariffs,” said Democratic Senator Mark Warner, co-sponsor of the Senate legislation. “This bill would roll them back.”

Republicans Mike Gallagher of Wisconsin and Darin LaHood of Illinois and Democrats Ron Kind of Wisconsin and Jimmy Panetta of California introduced the House legislation.

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Trump Organization to Use E-Verify for Worker Status Checks

The Trump Organization, responding to claims that some of its workers were in the U.S. illegally, said on Wednesday that it will use the E-Verify electronic system at all of its properties to check employees’ documentation.

A lawyer for a dozen immigrant workers at the Trump National Golf Club in New York’s Westchester County said recently that they were fired on Jan. 18. He said many had worked there for a dozen or more years. Workers at another Trump club in Bedminster, New Jersey, came forward last month to allege managers there had hired them knowing they were in the country illegally.

“We are actively engaged in uniforming this process across our properties and will institute E-verify at any property not currently utilizing this system,” Eric Trump, executive vice president of the Trump Organization, said in a statement provided to The Associated Press. “As a company we take this obligation very seriously and when faced with a situation in which an employee has presented false and fraudulent documentation, we will take appropriate action.”

“I must say, for me personally, this whole thing is truly heartbreaking,” he added. “Our employees are like family but when presented with fake documents, an employer has little choice.”

Launched in 1996, the E-Verify system allows employers to check documentation submitted by job applicants with records at the Department of Homeland Security and the Social Security Administration to see whether they are authorized to work. 

During his presidential campaign, Republican Donald Trump called for all employers to use the federal government online E-Verify system. He told MSNBC in 2016 that he uses it at his properties, and that there should be a “huge financial penalty” for companies that hire workers who are in the country illegally.

Several of those workers from Trump’s properties paid visits to Congressional offices this week in hopes of raising support for their fight against possible deportation. One Democrat, New Jersey Rep. Bonnie Watson Coleman, confirmed Wednesday that she had invited a maid who had cleaned President Trump’s rooms at Bedminster as her guest at his State of the Union speech.

The maid, Victorina Morales, was featured in a New York Times story last month titled “Making President Trump’s Bed: A Housekeeper Without Papers.” She has said that managers there knew she was living in the country illegally, helped her obtain false documentation and that she was physically abused by a supervisor.

Morales’ lawyer, Anibal Romero, said that Morales had accepted the invitation.

The Trump Organization has said it does not tolerate employing workers who are living in the U.S. without legal permission, and any problems with hiring is not unique to the company.

“It demonstrates that our immigration system is severely broken and needs to be fixed immediately,” Eric Trump said in his statement. “It is my greatest hope that our ‘lawmakers’ return to work and actually do their jobs.”

President Trump has repeatedly cast the millions of immigrants in the country illegally as a scourge on the health of the economy, taking jobs from American citizens. He has said they also bring drugs and crime over the border.

He turned over day-to-day management of his business to Eric and his other adult son, Donald Jr., when he took the oath of office two years ago. The Trump Organization owns or manages 17 golf clubs around the world.

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Trump Organization to Use E-Verify for Worker Status Checks

The Trump Organization, responding to claims that some of its workers were in the U.S. illegally, said on Wednesday that it will use the E-Verify electronic system at all of its properties to check employees’ documentation.

A lawyer for a dozen immigrant workers at the Trump National Golf Club in New York’s Westchester County said recently that they were fired on Jan. 18. He said many had worked there for a dozen or more years. Workers at another Trump club in Bedminster, New Jersey, came forward last month to allege managers there had hired them knowing they were in the country illegally.

“We are actively engaged in uniforming this process across our properties and will institute E-verify at any property not currently utilizing this system,” Eric Trump, executive vice president of the Trump Organization, said in a statement provided to The Associated Press. “As a company we take this obligation very seriously and when faced with a situation in which an employee has presented false and fraudulent documentation, we will take appropriate action.”

“I must say, for me personally, this whole thing is truly heartbreaking,” he added. “Our employees are like family but when presented with fake documents, an employer has little choice.”

Launched in 1996, the E-Verify system allows employers to check documentation submitted by job applicants with records at the Department of Homeland Security and the Social Security Administration to see whether they are authorized to work. 

During his presidential campaign, Republican Donald Trump called for all employers to use the federal government online E-Verify system. He told MSNBC in 2016 that he uses it at his properties, and that there should be a “huge financial penalty” for companies that hire workers who are in the country illegally.

Several of those workers from Trump’s properties paid visits to Congressional offices this week in hopes of raising support for their fight against possible deportation. One Democrat, New Jersey Rep. Bonnie Watson Coleman, confirmed Wednesday that she had invited a maid who had cleaned President Trump’s rooms at Bedminster as her guest at his State of the Union speech.

The maid, Victorina Morales, was featured in a New York Times story last month titled “Making President Trump’s Bed: A Housekeeper Without Papers.” She has said that managers there knew she was living in the country illegally, helped her obtain false documentation and that she was physically abused by a supervisor.

Morales’ lawyer, Anibal Romero, said that Morales had accepted the invitation.

The Trump Organization has said it does not tolerate employing workers who are living in the U.S. without legal permission, and any problems with hiring is not unique to the company.

“It demonstrates that our immigration system is severely broken and needs to be fixed immediately,” Eric Trump said in his statement. “It is my greatest hope that our ‘lawmakers’ return to work and actually do their jobs.”

President Trump has repeatedly cast the millions of immigrants in the country illegally as a scourge on the health of the economy, taking jobs from American citizens. He has said they also bring drugs and crime over the border.

He turned over day-to-day management of his business to Eric and his other adult son, Donald Jr., when he took the oath of office two years ago. The Trump Organization owns or manages 17 golf clubs around the world.

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Brazil’s Fight Against Urban Slavery Getting Harder

A surge in cases of urban slavery in Brazil brings new challenges for prosecutors and labor inspectors, top government officials said on Wednesday.

Last year 523 workers were found in slavery-like conditions during labor inspections in Brazilian cities, about 225 more than in 2017, government data released Friday shows.

“We found that there is fragmentation happening. Instead of one big sweatshop with 20, or 30 people, we now have many, with four of five, usually family owned,” said  Maurício Krepsky, head of the Division for Inspection and Eradication of Slave Labor.

The change makes detection harder, Krepsky said. Last year 42 workers were rescued from slavery-like conditions in sweatshops in São Paulo.

Urban slavery on the move

The country has the world’s fourth-largest garment production industry, with 1.5 million direct employees.

In Brazil, the textile industry is fragmented and informal, with thousands of immigrant subcontractors from Bolivia and Paraguay sewing clothes in small shops — some of them sweatshops — for well-known national retailers.

“Working conditions in Bolivia manage to be worse than those in Brazil, so they are very easily groomed (by traffickers),” said labor prosecutor-general Ronaldo Fleury.

Rural enslavement is still more common — 1,200 people were found in slavery-like conditions in rural areas last year — but there are added complexities for cases in cities.

Victims in rural areas usually stay in one place, while urban victims can be moved around quickly, or may even be mobile themselves, as investigators found in 2018.

“To me that is the single-most challenging aspect of it (urban slavery). In a sweatshop you pull up a truck and you can move the sweatshop in a few hours, while a farm stays put,” said Fleury.

Dairy workers rescued

Urban slavery isn’t confined to sweatshops. More dairy workers were rescued last year than those making textiles.

In 2018 inspectors found 52 people trafficked from Brazil’s poor northern states to São Paulo, where they were put in debt bondage and made to work at the bottom of the dairy supply chain, as door to door salesmen.

The numbers last year were high, Krepsky said, which indicates the necessity of continuing to work in urban areas.

“In urban areas we identify more frequently than in rural ones signs of slave labor happening in a more covert way … like a false formalization of the activity, as to hide the true employer.”

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Brazil’s Fight Against Urban Slavery Getting Harder

A surge in cases of urban slavery in Brazil brings new challenges for prosecutors and labor inspectors, top government officials said on Wednesday.

Last year 523 workers were found in slavery-like conditions during labor inspections in Brazilian cities, about 225 more than in 2017, government data released Friday shows.

“We found that there is fragmentation happening. Instead of one big sweatshop with 20, or 30 people, we now have many, with four of five, usually family owned,” said  Maurício Krepsky, head of the Division for Inspection and Eradication of Slave Labor.

The change makes detection harder, Krepsky said. Last year 42 workers were rescued from slavery-like conditions in sweatshops in São Paulo.

Urban slavery on the move

The country has the world’s fourth-largest garment production industry, with 1.5 million direct employees.

In Brazil, the textile industry is fragmented and informal, with thousands of immigrant subcontractors from Bolivia and Paraguay sewing clothes in small shops — some of them sweatshops — for well-known national retailers.

“Working conditions in Bolivia manage to be worse than those in Brazil, so they are very easily groomed (by traffickers),” said labor prosecutor-general Ronaldo Fleury.

Rural enslavement is still more common — 1,200 people were found in slavery-like conditions in rural areas last year — but there are added complexities for cases in cities.

Victims in rural areas usually stay in one place, while urban victims can be moved around quickly, or may even be mobile themselves, as investigators found in 2018.

“To me that is the single-most challenging aspect of it (urban slavery). In a sweatshop you pull up a truck and you can move the sweatshop in a few hours, while a farm stays put,” said Fleury.

Dairy workers rescued

Urban slavery isn’t confined to sweatshops. More dairy workers were rescued last year than those making textiles.

In 2018 inspectors found 52 people trafficked from Brazil’s poor northern states to São Paulo, where they were put in debt bondage and made to work at the bottom of the dairy supply chain, as door to door salesmen.

The numbers last year were high, Krepsky said, which indicates the necessity of continuing to work in urban areas.

“In urban areas we identify more frequently than in rural ones signs of slave labor happening in a more covert way … like a false formalization of the activity, as to hide the true employer.”

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Three US States Win Settlement for Oil Spills

U.S.-based Sunoco Pipelines has agreed to pay hefty fines and make procedural changes after it was found in violation of state and federal environmental laws in connection to oil spills in three states. 

The U.S. Environmental Protection Agency and state regulators in Texas, Louisiana and Oklahoma said Sunoco Pipelines and its Louisiana partner Mid-Valley Pipeline Company have agreed to make amends for the spills that occurred in 2013, 2014 and 2015. 

Sunoco has also agreed to take additional steps to prevent and detect corrosion in its pipeline segments, including in the ones no longer in use by the company. 

“This excellent result shows how a strong federal and state partnership can bring about effective environmental enforcement to protect local communities in these states,” said Jeffrey Bossert Clark of the Justice Department’s Environment and Natural Resources Division.

The fines of more than $5 million will be used to restore waterway shorelines when disasters strike, including other oil spills. 

“Our nation relies on the oil and gas sector to meet our energy needs, and we also expect companies to do so while protecting our vital water resources,” said EPA Regional Administrator Ann Idsal. “Companies who violate this responsibility must face consequences and assure their future compliance.”

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A Virtual Human Teaches Negotiating Skills

Whether it’s haggling for a better price or negotiating for a higher salary, there is a skill to getting the most of what you want. Researchers at the University of Southern California Institute for Creative Technologies are conducting research on how a virtual negotiator may be able to teach you the art of making a good deal. VOA’s Elizabeth Lee has the details.

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A Virtual Human Teaches Negotiating Skills

Whether it’s haggling for a better price or negotiating for a higher salary, there is a skill to getting the most of what you want. Researchers at the University of Southern California Institute for Creative Technologies are conducting research on how a virtual negotiator may be able to teach you the art of making a good deal. VOA’s Elizabeth Lee has the details.

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Egypt Sentences Senior Official to 12 Years Over Corruption

An Egyptian court has sentenced the deputy governor of the country’s second-largest city to 12 years in prison on corruption charges.

 

The Cairo criminal court also sentenced Souad el-Kholy, deputy governor of the Mediterranean city of Alexandria, to a one-year suspended sentence for bribery, profiteering and squandering public funds on Wednesday. The court acquitted five local businessmen in the same case.

 

El-Kholy can appeal the verdict against her.

 

She became Alexandria’s deputy governor in 2015 and was arrested two years later, in October 2017, in a case linked to illegal seizures of state land, illegal construction and building violations. She is the most senior female official to be arrested on corruption charges.

 

Alexandria is notorious for illegal construction and demolition of historical buildings to make way for high-rise apartment towers.

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Egypt Sentences Senior Official to 12 Years Over Corruption

An Egyptian court has sentenced the deputy governor of the country’s second-largest city to 12 years in prison on corruption charges.

 

The Cairo criminal court also sentenced Souad el-Kholy, deputy governor of the Mediterranean city of Alexandria, to a one-year suspended sentence for bribery, profiteering and squandering public funds on Wednesday. The court acquitted five local businessmen in the same case.

 

El-Kholy can appeal the verdict against her.

 

She became Alexandria’s deputy governor in 2015 and was arrested two years later, in October 2017, in a case linked to illegal seizures of state land, illegal construction and building violations. She is the most senior female official to be arrested on corruption charges.

 

Alexandria is notorious for illegal construction and demolition of historical buildings to make way for high-rise apartment towers.

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Japan’s Nikkei: Ghosn Says Arrest Due to Plot Within Nissan

Nissan’s former chairman Carlos Ghosn, in his first interview since his arrest in November, blamed fellow executives opposed to forging closer ties with the automaker’s French alliance partner Renault for scheming against him, the Japanese newspaper Nikkei reported Wednesday.

The financial daily said it spoke with Ghosn for 20 minutes earlier in the day at the Tokyo Detention Center, where the 64-year-old star executive has been held since Nov. 19.

Earlier, Ghosn only was allowed visits by his lawyers and embassy officials.

Prosecutors have charged Ghosn with falsifying financial reports in under-reporting his compensation. He has also been indicted on charges of breach of trust related to his handling of investment losses and to payments made to a Saudi businessman.

In the interview, Ghosn reiterated that he is innocent and said others in the company schemed to force him out with a “plot and treason.”

“People translated strong leadership to (mean) dictator, to distort reality,” he told the Nikkei. It was for the “purpose of getting rid of me,” he was quoted as saying.

Nissan Motor Co. defended itself, saying prosecutors took action following an internal investigation set off by whistleblowers in the company.

“The sole cause of this chain of events is the misconduct led by Ghosn and Kelly,” company spokesman Nicholas Maxfield said. He was referring to Greg Kelly, another executive who has been charged with collaborating with Ghosn in underreporting his compensation. Kelly was released on bail last month and remains in Tokyo.

French government spokesman Benjamin Griveaux declined to comment when asked about Ghosn’s interview.

Authorities have rejected Ghosn’s requests for bail, saying he might tamper with evidence or possibly flee.

Ghosn told the Nikkei he had no intention of fleeing and wants to defend himself in court. But he questioned why he could not gain release on bail.

“I don’t understand why I am still being detained,” he was quoted as saying, adding he could not tamper with evidence because “All the evidence is with Nissan.”

The newspaper said Ghosn did not appear tired or flustered and when asked about his health, he said he was “doing fine.”

“In life there are ups and downs,” the newspaper quoted him as saying.

Renault SA owns 43 percent of Nissan. It sent Ghosn to Japan in 1999 to help lead the Japanese automaker’s turnaround from near bankruptcy. Ghosn said he had discussed a “plan to integrate” Nissan with Renault and their smaller alliance partner Mitsubishi Motors Corp. with Nissan’s CEO, Hiroto Saikawa, in September.

The plan was to bring Nissan, Renault and Mitsubishi Motors closer together and ensure they had “autonomy under one holding company,” he told the newspaper.

Nissan dismissed Ghosn as chairman shortly after his arrest. He was also dismissed as chairman of Mitsubishi. Earlier this month, he resigned as chairman and CEO of Renault and was replaced by Jean-Donimique Senard, the former chairman of Michelin.

Ghosn refuted various allegations against him, saying most of the alleged violations were approved by Nissan’s legal department or other senior executives.

He also denied any wrongdoing in buying expensive homes in Brazil and Lebanon, saying he needed a safe place to work and meet with people. The homes were no secret and if they had been a problem, he should have been consulted, Ghosn said.

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Japan’s Nikkei: Ghosn Says Arrest Due to Plot Within Nissan

Nissan’s former chairman Carlos Ghosn, in his first interview since his arrest in November, blamed fellow executives opposed to forging closer ties with the automaker’s French alliance partner Renault for scheming against him, the Japanese newspaper Nikkei reported Wednesday.

The financial daily said it spoke with Ghosn for 20 minutes earlier in the day at the Tokyo Detention Center, where the 64-year-old star executive has been held since Nov. 19.

Earlier, Ghosn only was allowed visits by his lawyers and embassy officials.

Prosecutors have charged Ghosn with falsifying financial reports in under-reporting his compensation. He has also been indicted on charges of breach of trust related to his handling of investment losses and to payments made to a Saudi businessman.

In the interview, Ghosn reiterated that he is innocent and said others in the company schemed to force him out with a “plot and treason.”

“People translated strong leadership to (mean) dictator, to distort reality,” he told the Nikkei. It was for the “purpose of getting rid of me,” he was quoted as saying.

Nissan Motor Co. defended itself, saying prosecutors took action following an internal investigation set off by whistleblowers in the company.

“The sole cause of this chain of events is the misconduct led by Ghosn and Kelly,” company spokesman Nicholas Maxfield said. He was referring to Greg Kelly, another executive who has been charged with collaborating with Ghosn in underreporting his compensation. Kelly was released on bail last month and remains in Tokyo.

French government spokesman Benjamin Griveaux declined to comment when asked about Ghosn’s interview.

Authorities have rejected Ghosn’s requests for bail, saying he might tamper with evidence or possibly flee.

Ghosn told the Nikkei he had no intention of fleeing and wants to defend himself in court. But he questioned why he could not gain release on bail.

“I don’t understand why I am still being detained,” he was quoted as saying, adding he could not tamper with evidence because “All the evidence is with Nissan.”

The newspaper said Ghosn did not appear tired or flustered and when asked about his health, he said he was “doing fine.”

“In life there are ups and downs,” the newspaper quoted him as saying.

Renault SA owns 43 percent of Nissan. It sent Ghosn to Japan in 1999 to help lead the Japanese automaker’s turnaround from near bankruptcy. Ghosn said he had discussed a “plan to integrate” Nissan with Renault and their smaller alliance partner Mitsubishi Motors Corp. with Nissan’s CEO, Hiroto Saikawa, in September.

The plan was to bring Nissan, Renault and Mitsubishi Motors closer together and ensure they had “autonomy under one holding company,” he told the newspaper.

Nissan dismissed Ghosn as chairman shortly after his arrest. He was also dismissed as chairman of Mitsubishi. Earlier this month, he resigned as chairman and CEO of Renault and was replaced by Jean-Donimique Senard, the former chairman of Michelin.

Ghosn refuted various allegations against him, saying most of the alleged violations were approved by Nissan’s legal department or other senior executives.

He also denied any wrongdoing in buying expensive homes in Brazil and Lebanon, saying he needed a safe place to work and meet with people. The homes were no secret and if they had been a problem, he should have been consulted, Ghosn said.

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US, China Begin Second Round of Trade, Economic Talks

Negotiators from China and the United States are meeting in Washington Wednesday for a second round of negotiations aimed at resolving the ongoing trade war between the economic superpowers.

Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer will lead their respective delegations in two days of discussions over Washington’s long-standing complaints that Beijing forces U.S. companies to transfer their technology advances to Chinese firms and that it limits access to China’s vast market.

But Monday’s indictment by U.S. prosecutors of Meng Wanzhou, the chief financial officer of Chinese telecom giant Huawei Technologies, threatens to overshadow the new round of talks.

The indictment alleges Meng, Huawei and the company’s affiliates conspired to violate U.S. sanctions on Iran and deceived financial institutions and the U.S. government of their activities. China is angered over Meng’s arrest in Vancouver by Canadian authorities on December 1

for extradition to the United States.

The trade talks are the result of an agreement last month between U.S. President Donald Trump and Chinese President Xi Jinping to stop the tit-for-tat tariff conflict between the two countries for 90 days starting on New Year’s Day.

The Trump administration has imposed punitive tariffs on $250 billion worth of Chinese imports to compel Beijing to changes its trading practices, prompting Beijing to retaliate with its own tariff increases on $110 billion of U.S. exports.

If a deal is not reached by March 2, U.S tariffs will rise from 10 percent to 25 percent.

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US, China Begin Second Round of Trade, Economic Talks

Negotiators from China and the United States are meeting in Washington Wednesday for a second round of negotiations aimed at resolving the ongoing trade war between the economic superpowers.

Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer will lead their respective delegations in two days of discussions over Washington’s long-standing complaints that Beijing forces U.S. companies to transfer their technology advances to Chinese firms and that it limits access to China’s vast market.

But Monday’s indictment by U.S. prosecutors of Meng Wanzhou, the chief financial officer of Chinese telecom giant Huawei Technologies, threatens to overshadow the new round of talks.

The indictment alleges Meng, Huawei and the company’s affiliates conspired to violate U.S. sanctions on Iran and deceived financial institutions and the U.S. government of their activities. China is angered over Meng’s arrest in Vancouver by Canadian authorities on December 1

for extradition to the United States.

The trade talks are the result of an agreement last month between U.S. President Donald Trump and Chinese President Xi Jinping to stop the tit-for-tat tariff conflict between the two countries for 90 days starting on New Year’s Day.

The Trump administration has imposed punitive tariffs on $250 billion worth of Chinese imports to compel Beijing to changes its trading practices, prompting Beijing to retaliate with its own tariff increases on $110 billion of U.S. exports.

If a deal is not reached by March 2, U.S tariffs will rise from 10 percent to 25 percent.

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Rising-Star Philippine Economy Slips, 2019 Seen as Pivotal

The Philippines ranked among Asia’s 10 fastest growing economies in 2017. Consumer power, remittances from overseas workers and an influx of call centers had given it that status, raising hopes for easing rampant poverty. Then GDP expansion wobbled in 2018 because of rising prices and lack of new direct investment.

Now state spending on new infrastructure and local tourism are expected to decide whether the Philippines can get back on track this year.

The Philippine economy grew 6.2 percent last year, down from 6.7 percent in 2017 and 6.9 percent a year earlier. Inflation dented consumption in late 2018, while factory investors stayed away for lack of infrastructure compared to what’s available elsewhere in Asia. Storm damage to crops, another economic backbone, and the six-month shutdown of the tourist hotspot Boracay Island ate away further at growth.

“I think it’s a combination of factors,” said Eduardo Araral, associate professor at the National University of Singapore’s public policy school. “One would be inflation, because that would slow down consumption. Infrastructure is always a constraint. The economy is growing, but the bottlenecks are not yet fixed.”

Slumps in farming, consumption

A spike in consumer prices in the Philippines in late 2018 angered many, testing the popularity of President Rodrigo Duterte in his third year in office. August inflation set a nine-year record at 6.4 percent, then the highest in Southeast Asia.

World oil price hikes were felt at the pump, while reports of rice scarcity raised prices in some parts of the country. More than 70 percent of the $313 billion Philippine economy comes from consumption, and people – especially the poor – mind their spending when prices are up.

The GDP struggled to grow also after deadly typhoon Mangkhut caused $509 million in agricultural damage in September and three months later tropical storm Usman caused another $19 million in farm losses.

The Western Pacific archipelago gets typhoons every year but still lacks infrastructure to withstand them, said Song Seng Wun, regional economist with the private banking unit of CIMB in Singapore.

Tourism was robust overall last year, but the closure of Boracay Island hurt the country’s prime tourism spot. Duterte declared a state of calamity from April through October to clean up the island, which had brought in more than $1 billion in tourism receipts in 2017.

Quest for investors

But the lack of capital investment weighs particularly hard on economic policymakers this year. The country, known for cheap, skilled labor, is still missing the ports, railways and power generation capacity that business people expect before opening shop. Investment would create jobs, in turn easing poverty.

“In terms of the whole ease of doing business, the Philippines ranks very low, but one of those reasons is poor infrastructure,” said Rajiv Biswas, Asia-Pacific chief economist at IHS Markit.

To attract more capital, the government is building $171 billion worth of infrastructure by 2022, one of Duterte’s priorities in office. By the same year, the government aims to cut poverty from 22 percent to 14 percent of the population.

Officials are sighting for this year new roads and a railway system on the impoverished island of Mindanao, flood control work around Manila and the first phase of a Metro Manila subway project, Budget and Management Secretary Benjamin Diokno said on his department’s website.

Progress on infrastructure would also show that the Philippines can overcome political fights that include open spats between Duterte and his detractors in Congress or the mass media, economists believe.

“Investors like clarity,” Song said. “So when you have leaders or opinion makers who can be very abrasive as well, would you want to be putting in millions of millions of investments given that environment?”

The budget department flagged manufacturing growth as an “area of concern.” In a statement on the 2018 economy, the department urged more transport infrastructure and asked Congress to amend the Foreign Investments Act, which deters foreign investors by limiting how much they can invest in certain local industries.

Bright spots

Some analysts already point to bright spots in the 2019 economy. Tourism on the heavily populated island Cebu stands to help real estate there, Biswas said, while tourism and investment are booming near the former U.S. airbase at Clark Field.

The Asian Development Bank expects 6.7 percent growth this year.

“If you look at it from a perspective that the Philippines is actually working on its infrastructure to attract investors, you have a government commitment to keep on spending, and you have a country whose growth is actually moving away from the key cities but into other areas, that will support above 6 percent growth,” said Jonathan Ravelas, chief market strategist with Banco de Oro UniBank in Metro Manila.

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Rising-Star Philippine Economy Slips, 2019 Seen as Pivotal

The Philippines ranked among Asia’s 10 fastest growing economies in 2017. Consumer power, remittances from overseas workers and an influx of call centers had given it that status, raising hopes for easing rampant poverty. Then GDP expansion wobbled in 2018 because of rising prices and lack of new direct investment.

Now state spending on new infrastructure and local tourism are expected to decide whether the Philippines can get back on track this year.

The Philippine economy grew 6.2 percent last year, down from 6.7 percent in 2017 and 6.9 percent a year earlier. Inflation dented consumption in late 2018, while factory investors stayed away for lack of infrastructure compared to what’s available elsewhere in Asia. Storm damage to crops, another economic backbone, and the six-month shutdown of the tourist hotspot Boracay Island ate away further at growth.

“I think it’s a combination of factors,” said Eduardo Araral, associate professor at the National University of Singapore’s public policy school. “One would be inflation, because that would slow down consumption. Infrastructure is always a constraint. The economy is growing, but the bottlenecks are not yet fixed.”

Slumps in farming, consumption

A spike in consumer prices in the Philippines in late 2018 angered many, testing the popularity of President Rodrigo Duterte in his third year in office. August inflation set a nine-year record at 6.4 percent, then the highest in Southeast Asia.

World oil price hikes were felt at the pump, while reports of rice scarcity raised prices in some parts of the country. More than 70 percent of the $313 billion Philippine economy comes from consumption, and people – especially the poor – mind their spending when prices are up.

The GDP struggled to grow also after deadly typhoon Mangkhut caused $509 million in agricultural damage in September and three months later tropical storm Usman caused another $19 million in farm losses.

The Western Pacific archipelago gets typhoons every year but still lacks infrastructure to withstand them, said Song Seng Wun, regional economist with the private banking unit of CIMB in Singapore.

Tourism was robust overall last year, but the closure of Boracay Island hurt the country’s prime tourism spot. Duterte declared a state of calamity from April through October to clean up the island, which had brought in more than $1 billion in tourism receipts in 2017.

Quest for investors

But the lack of capital investment weighs particularly hard on economic policymakers this year. The country, known for cheap, skilled labor, is still missing the ports, railways and power generation capacity that business people expect before opening shop. Investment would create jobs, in turn easing poverty.

“In terms of the whole ease of doing business, the Philippines ranks very low, but one of those reasons is poor infrastructure,” said Rajiv Biswas, Asia-Pacific chief economist at IHS Markit.

To attract more capital, the government is building $171 billion worth of infrastructure by 2022, one of Duterte’s priorities in office. By the same year, the government aims to cut poverty from 22 percent to 14 percent of the population.

Officials are sighting for this year new roads and a railway system on the impoverished island of Mindanao, flood control work around Manila and the first phase of a Metro Manila subway project, Budget and Management Secretary Benjamin Diokno said on his department’s website.

Progress on infrastructure would also show that the Philippines can overcome political fights that include open spats between Duterte and his detractors in Congress or the mass media, economists believe.

“Investors like clarity,” Song said. “So when you have leaders or opinion makers who can be very abrasive as well, would you want to be putting in millions of millions of investments given that environment?”

The budget department flagged manufacturing growth as an “area of concern.” In a statement on the 2018 economy, the department urged more transport infrastructure and asked Congress to amend the Foreign Investments Act, which deters foreign investors by limiting how much they can invest in certain local industries.

Bright spots

Some analysts already point to bright spots in the 2019 economy. Tourism on the heavily populated island Cebu stands to help real estate there, Biswas said, while tourism and investment are booming near the former U.S. airbase at Clark Field.

The Asian Development Bank expects 6.7 percent growth this year.

“If you look at it from a perspective that the Philippines is actually working on its infrastructure to attract investors, you have a government commitment to keep on spending, and you have a country whose growth is actually moving away from the key cities but into other areas, that will support above 6 percent growth,” said Jonathan Ravelas, chief market strategist with Banco de Oro UniBank in Metro Manila.

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Energy-Short Pakistan Moves to Power Up Solar Manufacturing

Pakistan’s government has proposed to eliminate taxes associated with manufacturing of solar and wind energy equipment in the country, in an effort to boost the production and use of renewable power and overcome power shortages.

A new government budget bill, expected to be approved in parliament within a month, would give renewable energy manufacturers and assemblers in the country a five-year exemption from the taxes.

“Pakistan is paying the heavy cost of an ongoing energy crisis prevailing for the last many years,” Finance Minister Asad Umar said last week in a budget speech. “In this difficult time, the promotion of renewable energy resources like wind and solar has become indispensable.”

Only about 5 to 6 percent of the power to Pakistan’s national electrical grid currently comes from renewable energy, according to the country’s Alternate Energy Development Board (AEDB).

The proposed tax reduction should boost that by encouraging greater local manufacturing of equipment needed for renewable power expansion, said Asad Mahmood, a renewable energy expert with the National Energy Efficiency and Conservation Authority, which sits within the Ministry of Energy.

Remaining hurdles

But manufacturers said the tax breaks likely would not be sufficient to spur expansion of local renewable energy industries.

Naeem Siddiqui, the chairman of Ebox Systems, which assembles solar panels in Islamabad, said the new tax breaks were good news but Pakistani manufacturers would still struggle to compete with tax-free, low-priced imports of foreign-built solar panels and other renewable energy equipment.

“The government has already waived off taxes and duties on the import of renewable energy products, and local manufacturers cannot compete with the low-priced imported items,” he said.

Pakistan today imports more than 95 percent of the solar panels and other renewable energy systems it uses, largely from China, said Aamir Hussain, chief executive officer of Tesla PV, one of the largest manufacturers of solar energy products in Pakistan.

“As long as the government will not impose duties on the import of finished products, the local market cannot grow,” he said.

Pakistani manufacturers also might need government help in pushing sales of new Pakistani clean energy products abroad, in order to build bigger markets and lower manufacturing costs, Siddiqui said.

Mahmood, of the energy ministry, said he believed the government would also move to cut existing duties on the import of components used in manufacturing finished renewable energy products, in order to help Pakistani manufacturers.

Taxes on those components have pushed up prices of Pakistani-made renewable energy systems, making them harder to sell and leading several companies to the brink of failure, he said.

Certification system

Local manufacturers should work with the government to determine which components should be manufactured locally and which imported to ensure costs of locally made wind and solar systems are competitive, he said.

Muhammad Abdur Rahman, managing director of Innosol, a company that imports and installs renewable energy systems, said that cheap imports of renewable energy systems from China remain the main barrier to building more such systems in Pakistan.

“The local industry is facing pricing issues because of low-quality solar energy appliances being imported in the country that are very cheap as compared to the local market,” he said.

That might be resolved in part by the government starting a certification system for renewable energy products to grade them according to quality, he said.

Amjad Ali Awan, chief executive officer of the Alternate Energy Development Board, said the aim of the new policies was for renewable energy to supply 28 to 30 percent of the country’s national electrical grid by 2030.

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Energy-Short Pakistan Moves to Power Up Solar Manufacturing

Pakistan’s government has proposed to eliminate taxes associated with manufacturing of solar and wind energy equipment in the country, in an effort to boost the production and use of renewable power and overcome power shortages.

A new government budget bill, expected to be approved in parliament within a month, would give renewable energy manufacturers and assemblers in the country a five-year exemption from the taxes.

“Pakistan is paying the heavy cost of an ongoing energy crisis prevailing for the last many years,” Finance Minister Asad Umar said last week in a budget speech. “In this difficult time, the promotion of renewable energy resources like wind and solar has become indispensable.”

Only about 5 to 6 percent of the power to Pakistan’s national electrical grid currently comes from renewable energy, according to the country’s Alternate Energy Development Board (AEDB).

The proposed tax reduction should boost that by encouraging greater local manufacturing of equipment needed for renewable power expansion, said Asad Mahmood, a renewable energy expert with the National Energy Efficiency and Conservation Authority, which sits within the Ministry of Energy.

Remaining hurdles

But manufacturers said the tax breaks likely would not be sufficient to spur expansion of local renewable energy industries.

Naeem Siddiqui, the chairman of Ebox Systems, which assembles solar panels in Islamabad, said the new tax breaks were good news but Pakistani manufacturers would still struggle to compete with tax-free, low-priced imports of foreign-built solar panels and other renewable energy equipment.

“The government has already waived off taxes and duties on the import of renewable energy products, and local manufacturers cannot compete with the low-priced imported items,” he said.

Pakistan today imports more than 95 percent of the solar panels and other renewable energy systems it uses, largely from China, said Aamir Hussain, chief executive officer of Tesla PV, one of the largest manufacturers of solar energy products in Pakistan.

“As long as the government will not impose duties on the import of finished products, the local market cannot grow,” he said.

Pakistani manufacturers also might need government help in pushing sales of new Pakistani clean energy products abroad, in order to build bigger markets and lower manufacturing costs, Siddiqui said.

Mahmood, of the energy ministry, said he believed the government would also move to cut existing duties on the import of components used in manufacturing finished renewable energy products, in order to help Pakistani manufacturers.

Taxes on those components have pushed up prices of Pakistani-made renewable energy systems, making them harder to sell and leading several companies to the brink of failure, he said.

Certification system

Local manufacturers should work with the government to determine which components should be manufactured locally and which imported to ensure costs of locally made wind and solar systems are competitive, he said.

Muhammad Abdur Rahman, managing director of Innosol, a company that imports and installs renewable energy systems, said that cheap imports of renewable energy systems from China remain the main barrier to building more such systems in Pakistan.

“The local industry is facing pricing issues because of low-quality solar energy appliances being imported in the country that are very cheap as compared to the local market,” he said.

That might be resolved in part by the government starting a certification system for renewable energy products to grade them according to quality, he said.

Amjad Ali Awan, chief executive officer of the Alternate Energy Development Board, said the aim of the new policies was for renewable energy to supply 28 to 30 percent of the country’s national electrical grid by 2030.

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Utility Bankruptcy Could Be Costly to California Wildfire Victims

Faced with potentially ruinous lawsuits over California’s recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could lead to higher bills for customers of the nation’s biggest utility and reduce the size of any payouts to fire victims.

The Chapter 11 filing allows PG&E to continue operating while it puts its books in order. But it was seen as a possible glimpse of the financial toll that could lie ahead because of global warming, which scientists say is leading to fiercer, more destructive blazes and longer fire seasons.

The bankruptcy could also jeopardize California’s ambitious program to switch entirely to renewable energy sources.

PG&E said the bankruptcy filing will not affect electricity or gas service and will allow for an “orderly, fair and expeditious resolution” of wildfire claims.

“Throughout this process, we are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating Northern California wildfires,” interim CEO John R. Simon said in a statement.

PG&E cited hundreds of lawsuits from victims of fires in 2017 and 2018 and tens of billions of dollars in potential liabilities when it announced earlier this month that it planned to file for bankruptcy.

The blazes include the nation’s deadliest wildfire in a century — the one in November that killed at least 86 people and destroyed 15,000 homes in Paradise and surrounding communities. The cause is under investigation, but suspicion fell on PG&E after it reported power line problems nearby around the time the fire broke out.

Last week, however, state investigators determined that the company’s equipment was not to blame for a 2017 fire that killed 22 people in Northern California wine country.

The wildfire lawsuits accuse PG&E of inadequate maintenance, including not adequately trimming trees and clearing brush around electrical lines, and failing to shut off power when the fire risk is high.

The bankruptcy filing immediately puts the lawsuits on hold and consolidates them in bankruptcy court, where legal experts say victims will probably receive less money.

“They’re going to have to take some sort of haircut on their claims,” said Jared Ellias, a bankruptcy attorney who teaches at the University of California, Hastings College of the Law. “We don’t know yet what that will be.”

In a bankruptcy proceeding, the victims have little chance of getting punitive damages or taking their claims to a jury. They will also have to stand in line behind PG&E’s secured creditors, such as banks, when a judge decides who gets paid and how much.

But legal experts also noted that state officials will be involved in the bankruptcy, and that could soften the blow to wildfire victims.

Gov. Gavin Newsom said in a statement that his administration will work to ensure that “Californians have access to safe, reliable and affordable service, that victims and employees are treated fairly, and that California continues to make forward progress on our climate change goals.”

Legal experts said the bankruptcy will probably take years to resolve and result in higher rates for customers of PG&E, which provides natural gas and electricity to 16 million people in Northern and central California.

PG&E would not speculate about the effect on customers’ bills, noting that the state Public Utilities Commission sets rates.

PG&E also filed for bankruptcy in 2001 during an electricity crisis marked by rolling blackouts and the manipulation of the energy market. It emerged from bankruptcy three years later but obtained billions in higher payments from ratepayers.

California has set a goal of getting 100 percent of its electricity from carbon-free sources such as wind, solar and hydropower by 2045. To achieve that, utilities must switch to buying power from renewable sources.

PG&E made agreements in 2017 to buy electricity from solar farms. But because of its bankruptcy, some experts have questioned its ability to pay what it agreed to, or to make the investments in grid upgrades and batteries necessary to bring more renewable energy online.

“PG&E’s bankruptcy is going to make it a lot more costly for California to meet its environmental goals, and could make it more challenging just to get the infrastructure built to help cut emissions and increase renewable energy,” said Travis Miller, an investment strategist at Morningstar Inc.

Consumer activist Erin Brockovich, who took on PG&E in the 1990s, had urged California lawmakers not to let the utility go into bankruptcy because it could mean less money for wildfire victims.

PG&E faced additional pressure not to seek bankruptcy after investigators said a private electrical system, not utility equipment, caused the 2017 wine country blaze that destroyed more than 5,600 buildings in Sonoma and Napa counties. The governor’s office estimated that more than half of the roughly $30 billion in potential wildfire damages that PG&E said it was facing came from that fire.

While the investigators’ finding reduced PG&E’s potential liability, it did little to reassure investors. Its stock is down 70 percent from about a year ago.

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