REUTERS: The San Francisco Public Utilities Commission said on Tuesday it has hired an adviser to explore the potential acquisition of PG&E Corp's distribution assets, sending shares of the power company up 2.6per cent at US$18.37.
San Francisco has hired Jefferies LLC as buy-side financial adviser, the utilities commission's Press Secretary Will Reisman told Reuters in an e-mail statement.According to a preliminary report released by the commission in May, there are three options for the city, which include the acquisition of PG&E assets in San Francisco to achieve self-sufficiency in power generation.
In the report, the commission also noted that although acquisition of PG&E assets would be a lengthy process, the city's electric grid could potentially benefit in the long-term.PG&E said it would remain open to communication and is"committed" to working with the city."We look forward to reviewing the city's analysis and appreciate the city's open and transparent dialogue on the subject," PG&E said in a statement.
PG&E sought Chapter 11 bankruptcy protection in January after facing liabilities of more than US$30 billion in the wake of Camp Fire, California's deadliest and most destructive wildfire in recent years.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Democratic 2020 hopefuls to swarm San Francisco, while Biden stays awayFourteen Democratic presidential hopefuls seeking money and support in California, the most liberal and populous U.S. state, will descend on San ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Iran-based social media scheme impersonated pressSAN FRANCISCO: Facebook and Twitter said Tuesday (May 28) they shuttered accounts used in an Iran-based social media campaign to sway public ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Developers sue Apple over app store feesSAN FRANCISCO: A lawsuit filed on Tuesday (Jun 4) by developers alleges Apple is abusing its monopoly position in its online marketplace to ... Just avoid apple at any cost
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exploding danger: US marijuana oil labs pose deadly, destructive hazardSAN DIEGO: On the afternoon of May 5, college student John Nothdurft was watching TV at his suburban San Diego home when a series of explosions ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Kawhi Leonard sues Nike over rights to his logoSAN FRANCISCO (AP) — Toronto star Kawhi Leonard filed a federal lawsuit against Nike on Monday, saying the footwear and apparel giant is blocking him from using a logo that he believes he owns.
Source: YahooSG - 🏆 3. / 71 Read more »
Sanders kicks fight against Trump into high gearSAN FRANCISCO: US Senator Bernie Sanders on Sunday called on California Democrats to unite against President Donald Trump, kicking the 2020 presidential campaign into high gear. He called Mr Trump 'a racist, a sexist, a homophobe and a religious bigot' in a speech capping...
Source: thenewpaper - 🏆 7. / 63 Read more »
US preparing antitrust probe of Google: report[SAN FRANCISCO] The US Department of Justice is preparing an antitrust investigation of Internet titan Google, the Wall Street Journal reported on Friday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Facebook keeps three-yearly 'say on pay' vote, amid outside investor doubtsBOSTON/SAN FRANCISCO (Reuters) - Facebook Inc investors will only get to vote on the pay of Chief Executive Mark Zuckerberg every three years, rather than annually as most outside shareholders would prefer, according to a vote tally released by the world's largest social media company late on Monday
Source: YahooSG - 🏆 3. / 71 Read more »
Firefox follows Apple in blocking third-party cookies onlineSAN FRANCISCO (BLOOMBERG) - Mozilla's Firefox browser joined Apple's Safari in blocking certain kinds of online tracking, leaving Google's Chrome as the only major browser that doesn't bar these tools by default.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Judge finds Navy SEAL's fair trial rights violated in war crimes caseSAN DIEGO: The military judge presiding over the court-martial of a US Navy SEAL charged with war crimes said on Friday (May 31) prosecutors who ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Strong quake strikes off El Salvador, no initial reports of damageSAN SALVADOR: An earthquake measured at 6.6-magnitude struck off the coast of El Salvador early on Thursday (May 30), though emergency services in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »