Michelle Toh

(CNN Money) -- Welcome to your daily brief. Catch up on today's top headlines in two minutes:

Hurricane Irma is down to Category 1

But the storm has left a trail of destruction in its wake, bringing power outages to millions in Florida, extreme flooding and widespread fuel outages.

Miami International Airport, wrecked by "significant water damage throughout," has also been shut indefinitely.

Irma comes just weeks after Hurricane Harvey wreaked havoc in Texas and Louisiana, with fears lingering over how much it's all going to cost.

More electric cars in China, please

Chinese authorities are planning a pivot to greener alternatives, including a ban on the manufacturing and sales of gas and diesel vehicles.

Beijing wouldn't be the first to do so: other countries, such as India and the U.K., announced similar initiatives earlier this summer.

It's an important shift: China's air pollution problems are notorious, not to mention its position as the world's number-one auto market.

North Korea warns the U.S. over new sanctions

The United Nations Security Council will vote Monday on a fresh round of sanctions for North Korea, which include an oil embargo and freezing the assets of its leader, Kim Jong Un.

Pyongyang has vowed to "cause the [U.S.] the greatest pain and suffering it had ever gone through" if the latest measures pass.

Is this the end of Hollywood's summer-long slump?

"It" wowed at the box office this weekend, raking in an estimated $117.1 million and handily beating projections.

It's the best-ever opening for any horror film, according to Warner Bros., as well as the third largest opening overall this year.

Tip of the Day

How can you prepare for a natural disaster? Here are five ways to look out for your finances, from placing your bills on autopay to taking pre-storm photos of your home.