PG&E CEO Patti Poppe expressed optimism that California lawmakers will revisit wildfire liability reform after a recent proposal failed, causing PG&E and Edison International shares to drop over 20%. The reform aims to limit utilities' financial liability for wildfire damages, which could lower PG&E's borrowing costs, help restore its investment-grade credit rating, and unlock billions in investments. Despite opposition from wildfire victims' advocates, Poppe believes the legislature, possibly in a special session, can finalize the reform under Governor Newsom's leadership. The unresolved liability risk has led PG&E to cut $2 billion from its 2027 capital spending plan, delaying projects and complicating its financial outlook.
UBS increased its price target for Computacenter PLC by 33% to 7,000p, citing strong growth prospects from AI data centre demand, a German market rebound, and hardware refresh cycles. Despite an 81% share gain this year, UBS sees further upside, rais...
Shares of Borders & Southern Petroleum fell 15% following Argentine President Javier Milei's announcement to accelerate sanctions against companies involved in oil projects near the Falkland Islands. Milei specifically targeted British firms Rockhopp...
Keel Infrastructure, formerly Bitfarms, saw its stock rise 7.72% following positive developments on its proposed 96-megawatt data centre in Sherbrooke, Quebec. This increase added about $148 million to the company's market cap, raising the value of b...
An Ethereum whale sold 167,855 ETH worth about $408 million over five days, fully exiting its position. Despite this large sale, Ethereum's price recovered and traded above $2,500, gaining 4.3% in 24 hours. Meanwhile, Invesco ETF clients have continu...
Bitcoin and Ethereum are expected to see a strong fourth quarter with Bitcoin potentially reaching $150,000, according to Fundstrat's Tom Lee. He believes the crypto market turbulence from earlier in the year has ended, with key catalysts aligning fo...
