California governor rejects PG&E bankruptcy reorganization plan

(Reuters) - California Governor Gavin Newsom on Friday rejected the bankruptcy reorganization plan submitted by PG&E Corp , the state's largest investor-owned utility, saying the proposal fails to comply with a recently enacted state wildfire law.The decision by Newsom, transmitted to PG&E by letter, complicates the company's push to exit bankruptcy and provide billions of dollars to victims of devastating wildfires in 2017 and 2018 sparked by the utility's power lines.The embattled utility now..