Bloomberg Business

Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida’s west coast, where it threatens to unleash floods and trigger blackouts.

Citigroup Inc. will pay $2.9 million to settle Securities and Exchange Commission allegations that the bank’s broker had flawed processes in its accounting in underwriting of securities offerings.

President Joe Biden is promoting administration veteran Daniel Hornung to a role as deputy director at the National Economic Council, according to the White House.

HP Inc. reduced its full-year cash flow and profit outlook, saying a rebound in the market for personal computers will take longer than expected. The shares declined about 5.5% in extended trading.

Stocks climbed the most since June, while bond yields retreated after economic reports bolstered speculation the Federal Reserve is getting closer to wrapping up its aggressive tightening campaign.

Trinity Regional Hospital Sachse, a full-service hospital and emergency room near Dallas, filed for bankruptcy with plans to sell itself just two years after opening.

Denbury Inc. and its advisors held talks with more than 28 potential buyers prior to agreeing to sell the company to Exxon Mobil Corp. for $4.9 billion.

The largest shareholder of the Chinese trust firm at the heart of the country’s shadow banking crisis plans to delist its shares due to “significant uncertainties,” raising more concerns about financial contagion in the $18 trillion economy.

Stablecoin issuer Tether has added Britannia Bank & Trust, a privately-held bank operating in the Bahamas, to process dollar transfers, according to people familiar with the matter.

VinFast Auto Ltd. is unprofitable, thinly traded and was grabbing attention from individual investors as it rose faster than any other large-cap stock worldwide.