Novartis: The Swiss drugmaker’s shareholders will vote on whether to spin off its Sandoz generics business, valued at up to $25 billion. The board unanimously backed the proposal, which would allow Novartis to follow rivals such as Pfizer in selling off divisions that make off-patent drugs to focus on higher-value innovative treatments.
British economy: Data on insolvencies in England and Wales in August is released, the latest indication of economic problems. The UK economy contracted more than expected in July, while the value of mortgage arrears reached its highest level in seven years in the second quarter.
France: Air traffic controllers will begin a nationwide strike over inflation and wages that threatens to wreak havoc on the second weekend of the Rugby World Cup tournament. The strike could also affect flights crossing French airspace to and from other countries.
Design Museum’s Grace Morgan adapts a dress from Molly Goddard’s Fall/Winter 2017 show, on view this month. Goddard is among the designers featured during London Fashion Week © Toby Melville/ PortalLondon Fashion Week: The twice-yearly exhibition opens at 180 Strand. Featured designers on the five-day program include Bora Aksu, Burberry, JW Anderson, KNWLS, Molly Goddard, Paul Costelloe, Richard Quinn, Roksanda and Simone Rocha.
NATO: Defense bloc chiefs meet in Oslo for their annual military committee conference.
European Central Bank: ECB President Christine Lagarde and the euro zone bank’s board meet informally in Santiago de Compostela to discuss the global economy and appoint a new board member.