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A jury in Oregon says the electric utility PacifiCorp must pay punitive damages for causing devastating wildfires in 2020 PORTLAND, Ore. -- A jury on Wednesday ordered the electric utility PacifiCorp to pay punitive damages for causing devastating wildfires in Oregon in 2020 — on top of an earlier verdict already expected to amount to billions of dollars. The decision came two days after the jurors found PacifiCorp liable for the fires and said it must pay for damage to property as well as emotional distress. The jury on Monday awarded more than $70 million to 17 homeowners named as plaintiffs in the case, with damages to be determined later for a broader class that could include the owners of about 2,500 properties, as estimated by plaintiffs' attorneys. The property owners alleged that PacifiCorp negligently failed to shut off power to its 600,000 customers during a windstorm over Labor Day weekend, despite warnings from then-Gov. Kate Brown’s chief of staff and top fire offic...

Algerian authorities say President Abdelmadjid Tebboune has started a three-day state visit to Russia meant to strengthen relations of “friendship and cooperation” at the invitation of Russian President Vladimir Putin ALGIERS, Algeria -- Algerian President Abdelmadjid Tebboune on Tuesday is starting a three-day state visit to Russia meant to strengthen relations of “friendship and cooperation” at the invitation of Russian President Vladimir Putin, authorities said Tuesday. The Algerian presidency said in a statement that Tebboune will attend an economic forum to be held this week in the city of St. Petersburg. Putin’s invitation had been conveyed by Russian Foreign Minister Sergey Lavrov during his visit to Algiers in May last year with the aim of developing bilateral Military , economic and humanitarian ties, and in other areas. Some Algerian media have criticized the visit amid Russia’s war in Ukraine. “The timing is not at all appropriate, as this visit by the president could...

A jury in Oregon has found electric utility PacifiCorp responsible for causing devastating fires during Labor Day 2020 in a civil lawsuit PORTLAND, Ore. -- A jury in Oregon on Monday found the electric utility PacifiCorp responsible for causing devastating fires during Labor Day weekend in 2020, ordering the company to pay tens of millions of dollars to 17 homeowners who sued and finding it liable for broader damages that could push the total award into the billions. The Portland utility is one of several owned by billionaire Warren Buffett’s Omaha, Nebraska-based investment conglomerate Berkshire Hathaway. The property owners, suing on behalf of a class of thousands of others, alleged that PacifiCorp negligently failed to shut off power to its 600,000 customers during a windstorm, despite warnings from then-Gov. Kate Brown’s chief-of-staff and top fire officials, and that its power lines were responsible for multiple blazes. There has been no official cause determined for the Labor Da...

Once rivals in court, the PGA Tour and LIV Golf are now partners in business The announcement was so shocking that not even PGA Tour players knew what was coming. The tour was fighting the threat of Saudi-backed LIV Golf for more than a year. On Tuesday, they decided to start working together. The PGA Tour, European tour and Saudi Arabia's sovereign wealth fund say they will combine their commercial businesses into a new company with hopes of unifying golf. That means all lawsuits are being dropped immediately. The other details create as many questions as answers. That starts with whether top stars like Phil Mickelson and Brooks Koepka — suspended for taking massive Saudi money to leave the PGA Tour for LIV — will have a way back. They would rejoin players who stayed loyal to the tour. The PGA Tour was in federal court trying to require Yasir Al-Rumayyan, the governor of the Public Investment Fund, to give testimony in an antitrust case. And now, Al-Rumayyan is on the PGA Tour boa...

Ukrainian President Volodymyr Zelenskyy says that counteroffensive and defensive actions are underway against Russian forces KYIV, Ukraine -- Ukrainian President Volodymyr Zelenskyy said Saturday that counteroffensive and defensive actions are underway against Russian forces, asserting that his top commanders are in a “positive” mindset as their troops engaged in intense fighting along the front line. The Ukrainian leader, at a Kyiv news conference alongside Canadian Prime Minister Justin Trudeau, responded to a question about Russian President Vladimir Putin's comment a day earlier that Ukraine's counteroffensive had started — and Ukrainian forces were taking “significant losses.” Zelenskyy said that “counteroffensive, defensive actions are taking place in Ukraine. I will not speak about which stage or phase they are in.” Top Ukrainian authorities have stopped short of announcing a full-blown counteroffensive was underway, though some Western analysts have said fiercer fight...

Stocks edged higher on Wall Street as more gains for Big Tech companies helped bolster the broader market NEW YORK -- Stocks rose modestly in morning trading on Wall Street Friday and are on track to close out a relatively quiet week higher. The S &P 500 rose 0.4% and is headed for a fourth straight week of gains. Slightly more stocks rose in the index than fell. Big Technology companies were doing much of the heavy lifting. The Dow Jones Industrial Average rose 94 points, or 0.3%, to 33,928 as of 10:59 a.m. Eastern. The tech-heavy Nasdaq rose 0.5%. European market s were lower and Asian market s closed higher overnight. Trading has been listless throughout the week amid a lack of any big market moving reports or news. The benchmark S &P index still gained enough ground by Thursday to close 20% above its October low, entering a new bull market. Technology stocks, which have been responsible for much of Wall Street's gains, helped lead the way on Friday. Microsoft rose 0.7...

A marketing campaign by oil major Shell has been banned by the U.K.’s advertising watchdog Wednesday for implying a big proportion of its business was in low carbon energy even though fossil fuels make up the “vast majority” of its operations LONDON -- A marketing campaign by oil major Shell has been banned by the U.K.'s advertising watchdog Wednesday for implying a big proportion of its business was in low carbon energy even though fossil fuels make up the “vast majority” of its operations. A television commercial, a YouTube video and a poster campaign in Bristol, England, variously described providing large numbers of British homes with 100% renewable energy, installing electric vehicle charging points and driving the energy transition. In its written ruling the Advertising Standards Authority found consumers would interpret the marketing materials as making a “broader claim about Shell as a whole providing cleaner energy.” Although Shell does have a clean energy business, the co...

Music superstars Lenny Kravitz, Billie Eilish and H Music superstars Lenny Kravitz, Billie Eilish and H.E.R. will team with advocacy nonprofit Global Citizen for a free concert in front of the Eiffel Tower designed to convince world leaders to take further action against climate change. “Power Our Planet: Live in Paris” is set for June 22 to coincide with the Summit for a New Global Financial Pact, a gathering of the world’s political and Business leaders to help developing nations finance sustainability projects. Global Citizen CEO Hugh Evans says the summit is an opportunity for governments and global banks to collaborate to jump start climate projects stalled by the COVID-19 pandemic. He hopes “Power Our Planet” will encourage leaders to take advantage of that opportunity and provide the $16.7 billion in outstanding climate financing promised in 2009 to lower-income countries. He is also seeking to advance reforms at the World Bank to make up to $1 trillion in additional financ...

Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit. Sahar Elhabashi, vice president, Head of Podcast Business , said in a memo that impacted employees would receive severance packages including extended Health care coverage and immediate access to outplacement support. In January Spotify announced that it was cutting 6% of its global workforce , or about 600 jobs. Elhabashi also said Monday that the Stockholm company would be combining podcast networks Parcast and Gimlet into its Spotify Studios operation. “With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetization and audience growth for creators, and a valuable, high-margin Business for Spotify,” Elhabashi said. In afternoon trading, shares rose nearly 3% and brief...

NATO Secretary-General Jens Stoltenberg says representatives from Turkey and Sweden will meet in just over a week to try to bridge their differences about the Nordic country joining the military alliance ISTANBUL, Turkey -- NATO Secretary-General Jens Stoltenberg made no breakthrough on Sunday in talks about Sweden’s membership in the Military organization with Turkish President Recep Tayyip Erdogan, with officials from the two countries to meet in just over a week to try to bridge their differences. NATO wants to bring Sweden into the fold by the time U.S. President Joe Biden and other allied leaders meet in Lithuania on July 11-12, but Turkey and Hungary have yet to endorse the move. All 31 member countries must ratify a candidate’s accession protocol for it to join the trans-Atlantic alliance. Turkey’s government accuses Sweden of being too lenient on terror organizations and security threats, including militant Kurdish groups and people associated with a 2016 coup attempt. Hunga...

The United States has signed a trade agreement with Taiwan over opposition from China, which claims the self-ruled island democracy as part of its territory WASHINGTON -- The United States signed a trade agreement Thursday with Taiwan over opposition from China, which claims the self-ruled island democracy as part of its territory. The two governments say the U.S.-Taiwan Initiative on 21st Century Trade will strengthen commercial relations by improving customs, investment and other regulation. The measure was signed by employees of the unofficial entities that maintain relations between the United States and Taiwan, a center for high-tech industry. They have no formal diplomatic ties but maintain unofficial relations and have billions of dollars in annual trade . The agreement is intended to “strengthen and deepen the economic and trade relationship,” the Office of the U.S. Trade Representative said in a statement. The deputy USTR, Sarah Bianchi, attended the signing. The Chinese go...

The Wegmans supermarket chain is closing one of its largest and most unusual stores because it has not attracted enough business NATICK, Mass. -- The Wegmans supermarket chain is closing one of its largest and most unusual stores because it has not attracted enough Business , the company said. The Natick, Massachusetts store will close on an undetermined date this summer, the Rochester, New York-based company said in a statement on Thursday. “Making these decisions is never easy. However, we do it for the long-term benefit of our people, our customers, and our communities,” Brien MacKendrick, the regional human resources director, said in the statement. “Unfortunately, with this nontraditional location we are unable to attract enough customers for our business model to work.” The 134,000-square-foot (12,450-square-meter) store opened in 2018 in a space within the Natick Mall once occupied by a JCPenney department store. It was the supermarket chain's first two-level store withi...

Europe is getting a break on inflation FRANKFURT, Germany -- Europe's i NFL ation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities. The annual figure in May eased from 7% in April for the 20 countries that use the euro currency, the European Union’s statistical agency Eurostat said Thursday. It was a welcome sign that the explosion in price increases — which peaked in record double digits last October — is heading in the right direction. But economists warned that it will be many months before disgruntled consumers see more normal levels of inflation reflected on price tags in shops. While prices are rising more slowly, they are coming on top of already-high costs triggered by Russia's war in Ukraine and other factors. Relief is far off for people like 76-year-old Brigitte Weinbeck, who was shopping this week at an open-air market in Cologne, Ger...

Lawyers for Tesla have asked a federal appeals court to reconsider a ruling that CEO Elon Musk unlawfully threatened employees with a loss of stock options in a 2018 Twitter post NEW ORLEANS -- Lawyers for Tesla have asked a federal appeals court to reconsider its ruling that CEO Elon Musk unlawfully threat ened employees with a loss of stock options in a 2018 Twitter post amid a union organizing effort. Three judges on the 5th U.S. Circuit Court of Appeals in New Orleans, in a March ruling, upheld a National Labor Relations Board order that the tweet be deleted. The panel also upheld an order that a fired Tesla employee be rehired with back pay. The case arose from United Auto Workers’ organizing efforts at a Tesla facility in Fremont, California. Tesla attorneys want the full 17-member court to rehear the case. The panel ruling, they argue in a Monday evening filing, co NFL icts with Supreme Court and appellate court precedents regarding First Amendment free speech protections. A...

Asian shares are mixed in directionless trading following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy TOKYO -- Asian shares were mixed in directionless trading Tuesday following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy . Japan's benchmark Nikkei 225 rose 0.3% to 31,328.16. Australia's S &P/ASX 200 edged down 0.1% to 7,209.30. South Korea's Kospi jumped 1.0% to 2,584.90. Hong Kong's Hang Seng was up less than 0.1% at 18,553.22. The Shanghai Composite fell less than 0.1% to 3,221.01. Analysts say investors remain concerned about the a possible “second wave” of COVID-19 cases in China, although the economic impact is expected to be more limited than from the earlier pandemic wave. China's recovery from virus-related disruptions during the past several years appears to be faltering, adding to worries over the regional economy. “To s...

Commerce Secretary Gina Raimondo and her Chinese counterpart, Wang Wentao, have expressed concern about policies of each other’s governments following Chinese raids on consulting firms and U.S. restrictions on exports of semiconductor technology WASHINGTON -- Commerce Secretary Gina Raimondo and her Chinese counterpart, Wang Wentao, expressed concern Thursday about policies of each other’s governments following Chinese raids on consulting firms and U.S. curbs on exports of semiconductor Technology , their governments said. The two sides announced no progress in disputes over technology and security but said Raimondo and Wang promised to strengthen exchanges on trade issues. Companies from both sides have been buffeted by tighter official controls on trade in semiconductors and other activity on security grounds. Political relations between the two governments are at their lowest level in decades following disputes over technology, security, China's territorial claims and Beijing...