PG&E offers $18 billion for wildfires — less than half would go directly to victims

PG&E is back where it started — searching for a way forward amid tens of billions of dollars in damages from past wildfires. And its narrowing options are driving the state’s largest utility into the arms of Wall Street investors, including a group led by major Republican donor Paul Singer, the billionaire known for his combative style and portfolio of distressed properties.