The smart ones head west

Trump said he plans to make changes to his tax plan within the next few weeks, while dismissing concerns that his public spat with Senator Bob Corker would scuttle an overhaul. Trump didn’t specify what kind of changes, and it’s unclear whether he now intends to release another version. His tax plan has been criticized for adding to the budget deficit.

The smartest Americans are heading west. Three Colorado cities are among the top 10 leading destinations for the nation’s best and brightest as old cow and mining towns morph into technology hubs, according to the Bloomberg Brain Concentration Index. Muskegon, Michigan, a once bustling manufacturing town, topped the Brain Drain Index.

Catalan president steps back from independence. Carles Puigdemont said while the Oct. 1 referendum had given him the mandate to pursue independence from Spain, he would “suspend” the result for a period of weeks. Puigdemont is instead seeking talks with the government in Madrid on the future of his region.

Nobel winner Thaler is nervous about the stock market. The University of Chicago professor, who received the award for his work in behavioral economics, expressed misgivings about the low volatility and continued optimism among investors. He told Bloomberg TV: “We seem to be living in the riskiest moments of our lives, and yet the stock market seems to be napping.”

A Las Vegas shooting lawsuit tests the gun industry’s immunity. Victims of last week’s massacre at a country music festival are suing manufacturers of bump stocks for negligence. A dozen of the devices, which allow a semi-automatic weapon to fire with the speed of an automatic, were found in gunman Stephen Paddock’s hotel room. It will test a law put in place by Republicans and the gun industry’s lobby that protects the industry from liability for the criminal actions of customers.

P&G declares victory over activist investor Nelson Peltz. The consumer-products company said preliminary results showed all 11 of its directors were elected, keeping the billionaire off its board, even as Peltz’s hedge fund said the vote is still too close to call. For P&G, the biggest company ever targeted by an activist in a proxy fight, the result is a vindication of its claim that it’s already tackling the shortcomings called out by Peltz.

The Swiss financial sector is still rebounding from a crackdown on bank secrecy, but the quaint lakeside town of Zug is embracing digital currency and trying to become a hub for the burgeoning industry.