Morning in brief: IAG to buy BMI, S Korea sends nuclear negotiator to Beijing

Stockmarkets on the continent react well to the European Central Bank’s (ECB’s) liquidity boosting effort yesterday, while Yahoo appears to entertain the idea of selling its Asian assets.

Markets

European stockmarkets rise in early trading as investors continue to react to yesterday’s €489 billion (£408.4 billion) auction of three-year paper by the ECB, according to the Financial Times.

Companies

British Airways owner IAG agrees to buy BMI from Lufthansa in a deal worth £172.5m, the BBC reports, although the operator warns that the takeover could lead to job cuts.

Internet company Yahoo mulls plans to split off most of its Asian assets including Chinese business-to-business technology firm Alibaba, sources tell Reuters.

International

South Korea sends its chief negotiator on the North Korean nuclear development to China to discuss how the regime’s atomic weapons programme will be affected by the death of Kim Jong-il, according to Bloomberg.

To receive more relevant articles like this one, why not sign up to our briefings and breaking alerts by clicking here.