Idalia Could Become Another Multibillion-Dollar Superstorm

▤ Summary

Hurricane Idalia, strengthened to a Category 3 storm on Wednesday morning, packing soaking rains and destructive winds of up to 125 miles per hour, as it lumbers toward the Florida coastline. Officers claiming to represent the major security forces of the African country said they were canceling the results of last weekend’s election, less than an hour after the incumbent president won a third term. The Times’s Ana Swanson, who covers trade and international economics and has been traveling with Raimondo, answered DealBook’s questions about the trip — while zipping along at 215 miles per hour on a train from Beijing to Shanghai. She didn’t talk as much about the huge number of products that fall somewhere in the middle: things like cars, steel and solar panels that are strategically important to the United States. Bitcoin surged as much as 7 percent on Tuesday on hopes that a favorable federal court ruling could usher in the crypto industry’s long-held dream of a new mainstream investment product tied to the cryptocurrency.

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