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PG&E unlikely to go bankrupt because of wildfires

New York (CNN Business)Shares of California electric company PG&E soared Friday on new hopes that the company won’t have to go bankrupt if it is found to be liable for the massive Camp Fire in Northern California. But the stock was up nearly 40% Friday after the president of the California Public Utilities Commission (CPUC) suggested that the state would work with PG&E to ensure that it would not be permanently crippled by lawsuits. “An essential component of providing safe electrical service is the financial wherewithal to carry out safety…

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