China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Trump, Xi Focus on Trade and AI at White House Summit 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Add as a preferred source on Google
S&P Global has warned that it may downgrade PacifiCorp, the Berkshire Hathaway-owned utility, to junk status as mounting liabilities from Oregon wildfire lawsuits threaten its financial stability. The credit rating agency said it could cut PacifiCorp’s current “BBB-minus” rating—its lowest investment-grade level—by at least two notches if future jury awards average around $19 million per plaintiff. A one-notch downgrade is possible if awards remain significant but lower than that figure.
The warning follows a February 25 Oregon jury verdict awarding $305 million to 16 plaintiffs who accused PacifiCorp of failing to shut off power lines during a powerful Labor Day weekend windstorm in 2020. That decision equates to roughly $19 million per plaintiff, significantly higher than the approximately $5 million average awarded in earlier trials related to the same wildfires.
S&P Global said it will closely monitor upcoming verdicts in the ongoing James class action litigation, with trials scheduled through early 2028. Berkshire Hathaway Energy, PacifiCorp’s immediate parent, estimates the utility faces up to $48 billion in potential payouts in addition to the $1 billion already awarded. Overall, PacifiCorp’s wildfire exposure is estimated at about $50 billion.
PacifiCorp has stated it plans to appeal the $305 million verdict and is awaiting a ruling from the Oregon Court of Appeals on whether the class action was properly certified and whether plaintiffs can recover damages for emotional distress. The company emphasized its commitment to maintaining operational stability and providing certainty to employees, customers, and communities.
Berkshire Hathaway Energy warned that losing investment-grade credit status could limit PacifiCorp’s ability to raise capital for ongoing operations, including paying suppliers and delivering electricity. However, the parent company said PacifiCorp expects to maintain sufficient liquidity for more than a year. Berkshire Hathaway itself continues to hold strong investment-grade credit ratings.
