PCG releases a statement saying that that the cost of covering the damage from the Camp Fire will exceed its insurance coverage.
The networking giant issued a solid quarterly earnings report after hours on Wednesday.
Shares of PG&E fall sharply on a warning of potential liability from deadly wildfire.
Amazon is receiving billions in tax incentives as part of its HQ2 expansion, sparking anger from a host of civic and community leader who criticized the use of tax money and the secrecy of the negotiations. Meanwhile, Amazon's power could face growing political scrutiny at the federal level.
Stocks ended lower Wednesday following softer consumer inflation data. The Dow's decline was led by Apple and Goldman Sachs.
Though a regulatory crackdown continues to weigh on Tencent's gaming revenue, its advertising, payments and cloud businesses are still doing quite well.