Germany must oppose UniCredit takeover of Commerzbank, bank employees and union warn
FedEx shares tumble amid weak demand for priority deliveries
Nike's new CEO may look to fix retailer ties in sales revival push
Residents in Kyiv told to stay indoors as air pollution blankets the Ukrainian capital
UN peacekeepers in Lebanon urge de-escalation after heavy airstrikes
Russia dismisses Zelenskiy's 'victory plan' as gambit to keep West onside
Brussels Airlines to cancel most Oct. 1 flights due to strike
Young Russians take odysseys across Europe to see Taylor Swift perform
(Reuters) - Hawaiian Electric Industries and other defendants in lawsuits over the Maui wildfires in Hawaii have tentatively agreed to pay more than $4 billion in settlement amount, Bloomberg News reported on Thursday, citing people familiar with the matter.
The company and other defendants, including county officials, face multiple lawsuits over the blazes that destroyed thousands of properties and caused damages worth an estimated $5 billion.
The proposed deal would settle suits on behalf of thousands of homeowners and businesses against the utility.
Other defendants, in the proposed settlement, include a unit of Charter Communications and state and local governments, Bloomberg added.
Hawaii's Department of the Attorney General and Hawaiian Electric declined Reuters requests for comment on the mediation efforts, citing a confidentiality agreement.
Charter Communications also declined to comment, while the Office of Maui Mayor did not immediately respond.
(Reporting by Vallari Srivastava and Mrinalika Roy in Bengaluru; Editing by Mohammed Safi Shamsi)
