The daily business briefing: September 8, 2016

1. Apple unveils water-resistant iPhone 7

Apple unveiled the latest updates to its popular iPhone on Wednesday at its annual product launch event. The new versions of the smartphone, the iPhone 7 and iPhone 7 Plus, come with 32GB, 128GB, or 256GB of storage, and start at $647 for the iPhone 7 and $769 for the iPhone 7 Plus. Both are water-resistant and have no headphone jack, but come with Lightning-connected earbuds. Apple also will push wireless headphones, sold separately for $159. Apple also boosted the differences between the two versions, giving the larger Plus a new, dual-lens 12MP camera that improves its zooming ability.

Ars Technica CNET

2. Senate committee investigating EpiPen price hike

The Senate Permanent Subcommittee on Investigations announced Wednesday that it is opening an inquiry into the pharmaceutical company Mylan's pricing of the EpiPen. The potentially life-saving auto-injectors for people suffering severe allergic reactions now costs about $600 for a two-pack, up from about $100 when Mylan acquired EpiPen in 2007. The company, responding to a backlash, last month announced that it would offer a cheaper, generic version of the EpiPen.

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The Hill

3. HPE spinning off non-core software business

Hewlett Packard Enterprise is merging its non-core software assets with Britain's Micro Focus International in a deal valued at $8.8 billion, the companies announced Wednesday. The spin off further trims down HPE, which was formed in the breakup of computer and printer maker Hewlett Packard last fall. HPE's chief executive, Meg Whitman, has been shifting to focus on key areas, including networking, storage, and technology services. She said the latest move marks "another important step in achieving the vision of creating a faster-growing, higher-margin, stronger cash flow company."

USA Today Reuters

4. Liberty Media buying Formula One Racing

Communications company Liberty Media on Wednesday said it would buy Formula One Racing for $4.4 billion. Liberty already holds stakes in the Atlanta Braves baseball team and the Sirius XM satellite radio service. The company is the world's largest international TV and broadband operation, and the deal is expected to expose new audiences in the U.S. to the European-dominated Formula One races.

Reuters

5. Nintendo's stock soars on news Super Mario Run coming to Apple app store

Nintendo shares jumped by as much as 16 percent on Thursday in Japan after the video-game maker announced that its Super Mario Run game would be making its debut in Apple's app store this year. U.S.-listed Nintendo shares surged by nearly 29 percent on Wednesday after Mario creator Shigeru Miyamoto announced the news at Apple's annual product launch event. Nintendo is expected to announce pricing later. The app is a "freemium" game like Nintendo's other huge hit, Pokémon Go.

MarketWatch