The 10 biggest business stories on Monday November 23

Cameron sets out five-year defence reboot; Inadequate dirty money regulation 'leaves UK open to terror funds'

A general view of The National Crime Agency building in Westminster (Dan Kitwood/Getty Images)

1. Prime Minister, David Cameron will set out a five-year defence review with a focus on tackling Isis, including a 30 per cent increase in the counter-terrorism budget, £2 billion on special forces, and a new emphasis on cyber defences, the Financial Times reports.

2. The recent Paris attacks have added to geopolitical distress, a top concern at the moment, and that may affect investment, Siemens Chief Executive Joe Kaeser says in a video interview published by The Financial Times on Sunday.

3. Britain's “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday.

4. The activist hedge fund run by American billionaire Daniel Loeb has launched a major bet against Morrisons, becoming the latest in a long line of funds shorting the supermarket’s shares, the Telegraph reports.

5. Growth readings for manufacturing, the service sector, and the whole economy are due for France, Germany, and the Eurozone between 8am and 9am.

6. Pfizer and Allergan plan to announce a record merger agreement worth more than $150 billion as early as Monday, according to a person familiar with the matter creating the world’s biggest drugmaker with products from Viagra to Botox.

7. Retailers give shoppers new reasons to use mobile phones in stores. At some Macy's outlets this holiday season, US shoppers who download the retailer’s app will be able to use their smart phones to guide them through the store to products they’re seeking.

8. Gambling software company Playtech dropped its bid for Plus500 after failing to get approval from the Financial Conduct Authority.

9. Britain's small food manufacturers have emerged as the biggest casualties of the supermarket price wars, according to new research out today, City AM reports.

10. The Information Commissioners' Office (ICO) says it will be writing to 1,000 companies involved in buying and selling personal data to check they are acting lawfully, the BBC reports.