British Airways prepare to buy Lufthansa's BMI

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Source: Bloomberg

British Airways parent company IAG agreed to acquire Lufthansa's BMI unit for ВЈ172.5 million ($270.5 million) beating Virgin Atlantic Airways counterbid. IAG needs BMI division in UK to provide mainline operations at Heathrow, the European most active airport. Lufthansa has been thinking of sale after BMI wrecked $291 million in operating losses after takeover in 2009.

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Thu, 22 Dec 2011 13:43:08 GMT

UK economy expands more than predicted

UK economy in third quarter expanded more than was previously predicted by economists. GDP advanced 0.6% compared to earlier forecast 0.5%. Nevertheless Bank of England warns that further rapid growth is unlikely given developments across Europe as debt burden harms demand. BOE predicts UK economy may stop expanding in current quarter and in the beginning of 2012. 

Thu, 22 Dec 2011 10:54:53 GMT

European markets open higher

European stocks traded higher on Thursday morning partly erasing yesterday's losses, led by financials. Stoxx Europe 600 index added 0.8% at 239.18 while German DAX 30 index climbed 1.2% reaching 5,861.63. FTSE 100 index jumped 0.7% at 5,425.38 and French CAC 40 index gained 1.2% at 3,067.96. 

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