News links 10-25-2019: Blackouts and Fires Edition

PG&E warns it could cut power to more than 2 million people beginning Saturday night, LA Times. “Pacific Gas & Electric said Friday that it would probably begin cutting off power to 850,000 Northern California customers — more than 2 million people — on Saturday night as historic winds returned to the region. It would be the largest wind-related blackout yet, affecting 36 counties.”

Banks Must Act Now or Risk Becoming a ‘Footnote’: McKinsey, Bloomberg. “More than half of the world’s banks are already in a weak position before any downturn that may be coming, according to a report from consultancy McKinsey & Co. A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday.”

Latest news: Newsom slams PG&E in visit with Kincade Fire responders, SFGATE. “23,700 acres, 5% containment (for reference, Manhattan is roughly 14,000 acres). At least 49 structures burned (21 homes and 28 outbuildings). No new evacuations ordered. No reported deaths or missing persons”

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