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If the United States scraps duty-free access for about 2,000 product lines, it will mostly hurt small and medium businesses in India, such as makers of engineering goods. Despite close political ties, trade between India and the United States, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential. Trade relations suffered in the past few months after India adopted new rules on e-commerce reining in how companies such as Amazon.com Inc and Walmart Inc-backed Flipkart do business.

(Reuters) - California Governor Gavin Newsom on Friday proposed a new fund to pay for wildfire liabilities and said he would hold the state’s largest utility more accountable for lapis matte curve cufflinks insuring safety against the growing number of blazes in the state, The creation of a fund that would allow utilities to pay for wildfire damage claims sent PG&E Corp shares soaring nearly 12 percent before closing 3.95 percent higher on Friday, “PG&E is a textbook example of what happens when a utility does not invest in safety after numerous deadly reminders to do so over many years,” a report released by Newsom said..

PG&E said in a statement that it is “embracing the calls for change,” and committed to resolving wildfire victims’ claims fairly and expeditiously. Newsom’s report calls for shifting liability for wildfire damage to a fault-based system. The current system, known as inverse condemnation, exposes the state’s utilities to liabilities from wildfires regardless of their negligence, as long as their equipment is involved. The current system pushed PG&E to seek bankruptcy protection in January, as it faced liabilities in excess of $30 billion related to the deadliest wildfires in the state’s history.

The governor’s report proposed creating two funds to help utilities pay for wildfire damage claims and spread the cost more widely among stakeholders, Another large utility, Southern California Edison Co, said in a statement that it “is encouraged by the broad scope” of Newsom’s report, lapis matte curve cufflinks “which reflects the need to address wildfire liability and regulatory reform.”, Shares of Edison International, the parent company of Southern California Edison, rose 7.2 percent..

Travis Miller of Morningstar Research Services LLC said the news was positive for shareholders, though there is “a long road ahead to implementing policies.” The government’s support for the utilities “should alleviate some of the market’s concerns about future liabilities,” he said. The report was harshly critical of PG&E, saying it is “taking advantage of the bankruptcy process to promote the interests of investors over fire victims and other stakeholders.”.

The state will monitor and intervene in the bankruptcy proceedings to protect California’s interests, it said, Damage estimates for the 2018 wildfire season are staggering, with insured losses alone exceeding $12 billion, the report said, “The current system for allocating costs lapis matte curve cufflinks associated with catastrophic wildfires - often caused by utility infrastructure, but exacerbated by drought, climate change, land-use policies and a lack of forest management - is untenable both for utility customers and for our economy,” the report said..

It calls on the federal government to better manage its forests, as the owner of 57 percent of California’s forest lands. President Donald Trump in January threatened to cut off federal relief to California for wildfires for what he called mismanagement of the state’s forests. The Federal Emergency Management Agency is providing assistance to survivors after wildfires in November collectively damaged or destroyed over 20,000 structures and killed at least 89 people. The largest blaze was the Camp Fire that destroyed most of the Northern California town of Paradise, killing at least 86 people - the deadliest wildfire in the United States in at least a century.

(Reuters) - Chevron Corp doubled down on its bet on surging U.S, oil and gas output on Friday, saying it would buy shale producer Anadarko Petroleum Corp for $33 billion in cash and stock that will make it the second-largest crude producer in the world, The combined company will produce an estimated 3.9 million barrels of oil equivalent per day (boepd), trailing only Exxon Mobil Corp among publicly traded companies, up from fourth, It expands Chevron’s reach in two areas where U.S, energy output is breaking records: shale from the Permian Basin of west Texas and New Mexico, and liquefied natural gas (LNG), These have helped make the United States one of the world’s largest lapis matte curve cufflinks energy exporters..



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