The daily business briefing: September 22, 2016

1. Fed holds interest rates steady, suggests December hike

The Federal Reserve concluded a two-day policy meeting on Wednesday with an announcement that it was holding interest rates in place, as economists expected. "The economy has a bit more running room than might have been previously thought," Fed Chairwoman Janet Yellen said. Yellen also emphasized that a rate hike could soon be justified, because, "We don't want the economy to overheat." Many economists took the comments as a sign that a December rate hike was likely. The Fed decision gave global stocks a lift early Thursday, with the Stoxx Europe index rising by 0.8 percent.

USA Today MarketWatch

2. Lawmakers grill Mylan CEO over EpiPen price hikes

Heather Bresch, CEO of EpiPen maker Mylan, defended the life-saving drug's drastic price increase in a congressional hearing on Wednesday, saying the company was striking a balance between "price and access." Bresch said Mylan only profits $50 for each two-pack of the autoinjectors for extreme allergy reactions that the company sells. Rep. Elijah Cummings (D-Md.) accused Mylan of raising the price — despite keeping the drug's ingredients virtually unchanged — when it acquired EpiPen in 2007, "to get filthy rich at the expense of our constituents." Since Mylan acquired EpiPen, the price has risen more than 500 percent.

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The New York Times The Associated Press

3. U.S. clears Airbus and Boeing to sell jets to Iran

The Treasury Department on Wednesday granted Airbus and Boeing licenses to deliver planes to Iran. The Islamic Republic is hoping to upgrade its fleet of airliners and add hundreds of new aircraft now that sanctions over its nuclear program have been lifted under an international deal aiming to rein in the program. Iranian President Hassan Rouhani promised in January that the accord between Iran and six world powers would mean that Iran soon would have "safe planes."

The New York Times

4. Apple exploring acquisition of luxury car maker

Apple reportedly is in talks to buy British luxury car maker McClaren, the Financial Times reported Wednesday. If a deal goes through, it would be expected to amount to Apple's largest acquisition since it bought high-end headphone and speaker maker Beats Electronics for $3 billion in 2014. Apple invested $1 billion earlier this year in Chinese ride-hailing company Didi Chuxing, and Apple is participating in an intensifying race to produce driverless electric cars.

Financial Times MarketWatch

5. Exxon Mobil to pay $12 million settlement over Yellowstone River pipeline spill

Exxon Mobil Corp. has agreed to pay $12 million for environmental damage from an oil spill into Montana's Yellowstone River, officials said Wednesday. Sixty-three thousand gallons leaked into the river after a pipeline broke, renewing debate over tightening pipeline safety regulations. The payment, if approved by a court, will settle state and federal government allegations that the crude oil spill killed fish and wildlife, and damaged an 85-mile stretch of the river, requiring months of cleanup.

The Associated Press