Novartis: The Swiss drugmaker’s shareholders will vote on whether to spin off its Sandoz generics business, worth up to $25bn. The board unanimously backed the proposal, which would allow Novartis to focus on high-value innovative therapies to follow rivals such as Pfizer in segments that sell off-patent drugs.
UK Economy: Data on insolvencies in England and Wales will be released in August, the latest sign of economic problems. The UK economy shrank more than expected in July, while the value of outstanding mortgages hit a seven-year high in the second quarter.
France: Air traffic controllers are set to launch a nationwide strike over inflation and pay, threatening to disrupt the second weekend of the Rugby World Cup. The strike may also affect flights crossing French airspace to other countries.
London Fashion Week: Twice a year the showcase opens at 180 Strand. Bora Aksu, Burberry, JW Anderson, KNWLS, Molly Goddard, Paul Costello, Richard Quinn, Roxanda and Simone Rocha are the featured designers for the five-day event.
NATO: The leaders of the Defense Forces gather in Oslo for their annual Army Group 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.
