• Yahoo and Carl Icahn have reached a settlement: Icahn and two of his nominees will join the board of the company. [AP]
  • Senior Citigroup exec Michael Klein, who was widely seen as a rival of CEO Vikram Pandit, has announced he'll be leaving the firm. [WSJ]
  • Ken Wilson, the chairman of Goldman Sachs's financial institutions group, will temporarily head to Washington to help Treasury Secretary Hank Paulson with the banking crisis. [WSJ]
  • Swiss drug maker Roche will pay $43 billion to acquire the 44 percent of Genentech that it does not already own. [NYT]
  • Bank of America announced better-than-expected results for the second quarter. [Bloomberg]
  • Wesley Edens' Fortress Investment Group continues to have a rough time in the real estate market. [WSJ]
  • Shares in Lehman Bros. were up 35 percent last week amid reports Dick Fuld was looking at taking the firm private and the SEC would crack down on short sellers. [NYP]