Morning Money Memo…

Two new takeover deals on Wall Street are just the latest examples of a wave of big corporate mergers. Many large companies recently have gone on a buying spree, taking advantage of soaring stock prices and cheap debt to make takeover bids. Global mergers and acquisitions have reached more than $3 trillion this year - the largest amount since 2000. This week's biggest deal is the $66 billion purchase of Botox-maker Allergan by drug-maker Activis. This deal came months after Actavis announced a $28 billion purchase of Forest Laboratories. Last year, the rapidly growing company bought Ireland's Warner Chilcott for $8.5 billion and moved its headquarters to Dublin from Parsippany, New Jersey. That came a year after it merged with generic drugmaker Watson Pharmaceuticals. On Monday, oilfield services giant Halliburton announced the takeover of its major rival Baker Hughes.

Home Depot Profits Build

America's biggest home improvement chain, Home Depot, announced a 14 percent rise in third-quarter profits. Same-store sales rose more than 5 percent compared with last year. Home Depot stuck to its full-year outlook - earnings of about $4.54 per share and a sales increase of approximately 4.8 percent, according to The Associated Press - despite a $34 million loss from the massive data breach it revealed in September.

Japanese President May Call Election

Japanese Prime Minister Shinzo Abe plans to call a snap election as he seeks a new mandate for his economic policies. Abe is set to put off a sales tax increase planned for next year after official figures showed the Japanese economy has fallen back into a recession.

Cameron Sounds Recession Alarm

British Prime Minister David Cameron has delivered a stark warning about the weak state of the global economy. Writing in The Guardian, Cameron said, "Six years on from the financial crash that brought the world to its knees, red warning lights are once again flashing on the dashboard of the global economy." Developing economies that "were the driver of growth in the early stages of the recovery" are now slowing. The British prime minister added that much of Europe is on the verge of a recession.

Toyota to Sell Fuel Cell Cars

The automaker that pioneered the Prius, the world's first mass market hybrid, is making its first small bet on the unproven market for emissions-free, hydrogen-powered vehicles. Toyota says it will start selling fuel cell cars in Japan on Dec. 15 and in the U.S. and Europe in mid-2015.

The Associated Press contributed to this report.