NEW YORK (AP) — Stocks gained some ground on Friday after a turbulent week. Still, the S&P finished with a weekly loss of 0.6%, capping the benchmark index’s first four-week losing streak in more than a year. Trading has been erratic in September, with stocks setting new highs to start the month and then falling sharply as investors worried that values for some of the technology giants had risen too high. For the week, the Dow slid 483.46 points, or 1.8%. The Nasdaq rose 120.28 points, or 1.1%. The Russell 2000 lost 61.87 points, or 4%.
SAN FRANCISCO (AP) — Firefighters and officials at California’s largest utility company braced for hot, dry and windy weather in northern and central areas of the state this weekend that may fan the flames of several major wildfires or spark new ones. Pacific Gas & Electric warned Friday that it might cut power from Sunday morning to Monday, potentially affecting 97,000 customers in 16 counties. PG&E is tracking the weather to determine if it would be necessary to shut off power to areas where gusts could damage the company’s equipment or hurl debris into lines that can ignite flammable vegetation.
SACRAMENTO, Calif. (AP) — California is creating what supporters call its own nation-leading, state-level version of the federal Consumer Financial Protection Bureau after critics said the Trump administration significantly weakened national protections. The legislation Gov. Gavin Newsom has signed into law changes the existing Department of Business Oversight into the Department of Financial Protection and Innovation. The current department regulates a significant part of the financial services industry, including banks and credit unions. But the expanded version will add oversight authority over debt collectors, debt settlement, credit repair and check cashing services, consumer credit reporting, retail sales financing and rent-to-own contracts.
UNDATED (AP) — Lawmakers say the U.S. government needs to ban the import of products made with child or forced labor after an Associated Press investigation found widespread exploitation in the palm oil industry. U.S. Sens. Sherrod Brown and Ron Wyden spearheaded efforts in 2016 to close a loophole in a federal law that allowed the import of products made with forced labor. On Friday, they called on companies that buy goods tainted by labor abuses to be held accountable. An Associated Press investigation into the $65 billion palm oil industry found labor abuses among an invisible workforce consisting of millions of men, women and children from some of the poorest corners of Asia.