Bloomberg Business

Two people died and one remains missing after a Petroleos Mexicanos natural gas platform in the Gulf of Mexico exploded early Friday, the company said.

Maryland Representative Jamie Raskin, the Democratic firebrand and constitutional law professor who led Donald Trump’s second impeachment, announced late Friday that he would forgo a run for Senate and seek reelection, citing ongoing risks to US democracy.

Drier summers and wetter winters are causing historic buildings, some of which survived World War II, to crack and tilt. Subsidence-related insurance payouts have spiked too.

A strategy of stripping China out of emerging-market portfolios is fast gaining traction as stock managers seek to reduce the risk of investing in a country that faces unique policy and geopolitical headwinds.

Former Treasury Secretary Lawrence Summers warned against any sense of achievement by policymakers in bringing inflation down notably from its peak last year, and predicted a further selloff in bonds as investors adjust to the need for more monetary tightening.

Former President Donald Trump went after his main rival for the Republican presidential nomination Friday on an issue of out-sized importance to Iowa caucus voters: the federal ethanol mandate.

The UK is set to sign a Pacific trade deal in Auckland next weekend, formally becoming the first new member since the framework came into force, and shifting attention to a list of other applicant countries headed by China.

Republican presidential hopeful Tim Scott expressed confidence that he will meet his party’s eligibility requirements to participate in the cycle’s first debate in August.

Ashford Hospitality Trust Inc. expects to return 19 hotels to lenders in cities including Las Vegas and Atlanta, declining to pour more cash into the properties, which are part of a $982 million mortgage pool that missed a repayment deadline in June.

A New York state judge issued a temporary halt to a new city law scheduled to go into effect next week, which requires minimum wage payments for app-based food delivery workers.