| The fires in Los Angeles continue to spread rapidly, already leaving two dead and a significant number of people injured. Along with the smaller fires, more than 23,000 acres in some of the wealthiest parts of LA county have burned in just about 24 hours. Such fires are evidence the sort of consequences that can be expected as the planet continues to heat up, consequences for which traditional risk-management tools — like, say, home insurance — are increasingly obsolete, Bloomberg Opinion's Mark Gongloff writes. Read our live updates here.  A home burns during the Easton Fire in Altadena, California, on Wednesday. Photographer: Jill Connelly/Bloomberg Stock traders refrained from making big bets, with the market set to close on the eve of Friday's jobs report. Treasuries rebounded as a solid $22 billion sale brought a degree of relief after the recent selloff. Singapore's stock benchmark closed at an all-time high on Wednesday, boosted by the ongoing rally in bank shares. Australian equities futures are pointing lower. Constellation Energy Corp. is in talks to acquire Calpine Corp. in a deal valued at around $30 billion including debt, in what would be one of the biggest ever deals in the power generation sector. Calpine, which operates 80 facilities across 22 states and Canada, generates electricity from natural gas and geothermal resources, powering around 27 million homes annually. India's economy is experiencing a slowdown, with growth expected to be 6.4% in the current fiscal year, a four-year low. Analysts say growth in coming years will likely remain well below the 8% average of the past three years and the pace Prime Minister Narendra Modi needs to meet his ambitious economic goals. | 
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