Merger Monday returns

Welcome back to Axios Business — and happy Thanksgiving week! A quick look at the news before we dive into Merger Monday:

• 1 tech thing: London has declined to renew Uber's operating license.
• 1 world thing: Following months of protest, pro-democracy parties swept pro-Beijing parties in key Hong Kong elections amid record voter turnout.
• 1 2020 thing: Mike Bloomberg officially announced his presidential run.

For more on the news of the day, sign up for one of our Axios newsletters.

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1 big thing: Pre-Thanksgiving Merger Monday sees over $60 billion in announced deals

By: Dan Primack ? Newsletter: Axios Pro Rata (sign up here)

It's been a while since we've had a full-fledged Merger Monday, but today we've seen over $60 billion in announced deals.

Why it matters: This isn't about a macro economic shift. It's about bankers and boards wanting to enjoy their Thanksgiving breaks, without constant cell phone pings.

The deals:

• Charles Schwab confirmed that it will buy TD Ameritrade for $26 billion in stock.
• LVMH confirmed it will buy Tiffany & Co. for $16.2 billion (not including assumed debt), or $135 per share.
• Viagogo agreed to buy StubHub from eBay for $4.05 billion in cash.
• Novartis will buy The Medicines Co. for $9.7 billion in cash.
• Mitsubishi Corp. agreed to buy Dutch utility Eneco for €4.1 billion, beating out KKR and Royal Dutch Shell.

Go deeper: Read the full story for more details on each deal

Sign up for my daily Pro Rata newsletter to get all the deals of the day sent straight to your inbox.

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2. Job loss predictions over rising minimum wages haven't come true

By: Dion Rabouin, Stef W. Kight ? Newsletter: Axios Markets (sign up here)

Illustration: Sarah Grillo/Axios

Eighteen states rang in 2019 with minimum wage increases — some that will ultimately rise as high as $15 an hour — and so far, opponents' dire predictions of job losses have not come true.

What it means: The data paint a clear picture: Higher minimum wage requirements haven't reduced hiring in low-wage industries or overall.

State of play: Opponents have long argued that raising the minimum wage will cause workers to lose their jobs and prompt fast food chains (and other stores) to raise prices. But job losses and price hikes haven't been pronounced in the aftermath of a recent wave of city and state wage-boost laws.

Go deeper: Read the full story for what we're hearing on both sides of the minimum wage debate — and what story the data tells

Sign up for Dion's Markets newsletter for more on how minimum wage increases are affecting jobs.

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3. The U.S. takes aim at Chinese drones

By: Kaveh Waddell ? Newsletter: Axios Future (sign up here)

Illustration: A?da Amer/Axios

Driven by fears of spying, the U.S. is taking dramatic steps toward weaning local, state and federal agencies off products made by DJI, the Chinese small-drone giant.

Yes, but: The company's defenders say the moves are motivated as much by hard-line politics toward China as an attempt to head off a genuine security threat.

Driving the news: A House bill introduced last week would bar federal agencies from buying Chinese-made drones and drones with certain Chinese components. There's a companion bill in the Senate.

Go deeper: Read the full story

Sign up for Axios Future for more from Kaveh on how technology is influencing the U.S.-China relationship.

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Thanks for reading.