In the wake of the $185 million settlement by Wells Fargo (WFC) over charges employees opened fee-generating accounts for unsuspecting customers, Chairman and CEO John Stumpf told CNBC he holds himself accountable, but does not plan to resign.
Mylan (MYL), assailed for hefty EpiPen price increases, had the second-highest executive compensation among all U.S. drug and biotech firms over the past five years, paying its top five managers a total of nearly $300 million. (WSJ)
German chemicals and health care group Bayer announced plans to acquire U.S.-based seeds giant Monsanto (MON) for $128 per share or $66 billion. The breakthrough in talks came last week, when Bayer sweetened its offer. (Reuters)
Investor Carl Icahn told the Delivering Alpha conference he's asked for the right to buy up to a 50 percent stake Herbalife (HLF). However, he has no intention of doing so right now. Icahn also said he thought Herbalife would be better off as a private company. (CNBC)
If Donald Trump were able to implement all of his proposed policies, they would undermine global economic growth and knock 5 percent, or as much as $1 trillion, off where U.S. gross domestic product would otherwise be in 2021, according to Oxford Economics. (CNBC)
New York Attorney General Eric Schneiderman is said to be making inquiries into the Donald J. Trump Foundation, after Schneiderman expressing concerns the GOP presidential nominee's charitable foundation may have been involved in "some impropriety." (CNBC)
Trump is set talk about his health with Dr. Mehmet Oz. The candidate tapes the show today for air tomorrow. Dr. Oz said he would ask Trump "pointed questions," but stay away from things Trump "doesn't want to have answered." (Politico)
Trump rolled out a plan to guarantee new mothers six weeks of paid maternity leave and suggesting new incentives for employees to provide their workers with childcare. Ivanka Trump, who appeared with her father, also wrote a Wall Street Journal op-ed on the topic.
Former Secretary of State Colin Powell called Trump "a national disgrace," and said "Hillary's mafia" was trying to drag him into her email scandal. Those remarks were made in Powell's personal emails leaked by hackers, according to BuzzFeed and The Daily Caller.
In his first solo appearance on the campaign trail on behalf of Hillary Clinton, President Barack Obama accused Donald Trump of adopting the authoritarian Russian leader Vladimir Putin as his "role model." Obama also made the case for Clinton. (WSJ)
Facebook (FB) and Twitter (TWTR) have joined more than 30 other companies in a joint effort to keep fake news from spreading over social media. The First Draft Coalition was formed last year with the backing of Alphabet's (GOOGL) Google unit. (Reuters)
The reviews are in for the Apple Watch Series 2. The Verge calls it a fitness tracker with the benefits of a smartwatch. But the new software for the device shows Apple (AAPL) "doesn't have ambitions of acting like a 'smartphone replacement.'"
Apple said it's identified and fixed a bug that caused some users to have their phones and tablets rendered unusable after updating to iOS 10, the new version mobile operating system for iPhones, iPads, and iPod touches. (Recode)
When Apple unveiled its AirPod wireless headphones last week (and killed the headphone jack on the iPhone 7), the big concern was that the new headphones would fall out of people's ears and get lost. But CEO Tim Cook dispelled those worries, saying AirPods stay in place even when he dances. (CNBC)
Florida's northeast coast was drenched by Tropical Storm Julia early this morning, leaving six million people under a flash flood watch. Georgia and parts of the South Carolina coastlines were expected to see heavy rains through Friday afternoon. (NBC News)
BY THE NUMBERS
Homebuyers jumped back into the market after Labor Day. Total mortgage application volume rose 4.2 percent last week, according to the Mortgage Bankers Association. Purchases far outpaced refinances, which gained just 2 percent.
STOCKS TO WATCH
Toyota (TM) is conducting a safety recall of about 7,600 model year 2016 Prius vehicles in the United States. The reason is a component in the airbag assembly may have been improperly assembled.
Ford (F) said the automaker is a strong investment with attractive upside as the company puts money in emerging opportunities and expands as an auto and mobility company.
Ruby Tuesday (RT) CEO James Buettgen has resigned, after the board called for his removal due to poor performance at the restaurant chain. Board member Lane Cardwell, a former Boston Market CEO, has been chosen to take the helm on an interim basis.
Verizon (VZ) was notified by New York City officials that it was in default of a 2008 agreement involving the buildout of its Fios high speed internet and TV service. Verizon has 30 days to respond to the notice.
Pershing Square's Bill Ackman sold 3.6 million shares of Air Products (APD), bringing his holdings down to 16.9 million shares or 7.8 percent of the industrial gas company.
WATERCOOLER
Russian hackers are being blamed for breaking into a World Anti-Doping Agency database and posting confidential medical data of some American athletes, including Olympic gold medalist Simone Biles. She defended on Twitter her use of medicine for her ADHD. (AP)