Crypto News: The London Rush: Mobile upgrade

Morning, I'm Louise Moon from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories.

Vodafone UK's £15 billion mega-merger with Three UK has been given the provisional go-ahead by the competitions watchdog, on the condition that the pair commit to investing in upgrading the UK's mobile network. Those who struggle to find signal in the greener parts of this island will surely welcome such news.

The CMA has also said measures need to be put in place to prevent price increases. Again, not bad news for the consumer.

A final decision by the competition gods will be made by Dec. 7, and we are keeping eyes peeled for reaction from the companies. Hopes are for some choice words, if previous statements are anything to go by.

In September, Vodafone said the merger will "fix the country's dysfunctional mobile market characteristics" and that it was "time to take off the handbrake on the country's connectivity and build the world-class infrastructure the country deserves."

Well then, surely it won't shy away from putting some cash into upgrades? We'll have to wait and see — please hold.

What's your take? Ping me on X, LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond.

Primark owner AB Foods plans to grow the low-cost clothing business through an expansion in Europe and the US. Meanwhile, lower sugar prices in Europe will impact that unit "significantly" next year. Shares rose as much as 6%.

Asos has managed to a clear a load of old stock, meaning the vast majority of its clothes are now under six months old. That newer stock is selling well, though its revenue is still down 16% compared to last year. Shares fell about 4%.

The government is upping biosecurity via a partnership with NHS England, Oxford Nanopore and others, which will monitor the threat of future pandemics. As part of it, an "early warning system" will be rolled out across 30 NHS sites.

It's also upping the ante in the war on smokers. A bill is being introduced in Parliament today to create the first "smoke-free generation". It'll phase out the sale of tobacco products, and also ban smoking in some outdoor spaces, including children's playgrounds and outside schools and hospitals.

Harris and Trump finish historic campaign with dueling rallies in battle states.
Boeing workers vote to accept new labour contract, ending a crippling 53-day strike.
Apple explores a push into smart glasses with internal study, following Meta's lead.

Here's your daily snap analysis from Bloomberg UK's Markets Today blog:

The results from AB Foods show the challenges that exist for companies that have maintained a conglomerate shape and have different businesses operating in quite different markets.

Primark, the main engine for AB Foods nowadays, is chugging along pretty well. Revenue is rising, it is expanding significantly internationally, margins are improving and it appears to have recovered from weather-related issues earlier in its financial year.

However, the company also owns British Sugar and sugar prices in Europe have plunged, which will hit profit for that division through its current financial year. That was the main cause of the warning it issued back in September too. It also has an agricultural trading unit and a grocery arm that includes Dorset Cereals and Kingsmill bread.

Through my career as a stocks reporter, there have been intermittent calls for AB Foods to spin off Primark into its own company, something the group has consistently quashed. It wouldn't be too surprising to see those calls arise again in the coming year. And, likely, be dismissed.

— Sam Unsted

Check Bloomberg UK's Markets Today blog for updates all day.

Marks & Spencer's first half results will likely show the sector-wide reversal of a summer sales slowdown, led by better weather and improved consumer confidence.

Analysts say the company's rebuild is also on a firmer footing with cost savings underpinning margins, while it has also addressed some core issues including competitive pricing and store locations.

Which billionaire fashion designer, originally from Texas, bought a mansion in Chelsea, London, in the UK's most expensive home deal this year?

Photographer: Dia Dipasupil/Getty Images North America

[Yesterday's answer: Kemi Badenoch studied engineering — and has repeatedly said she would take an engineer's approach to government.]

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