Newspaper wrap-up: Mizuho Financial may invest in Merrill Lynch

MAJOR PAPERS:

Japanese bank Mizuho Financial Group Inc (NYSE: MFG) is today expected to announce that it will invest $1.3B in ailing Merrill Lynch & Co Inc (NYSE: MER), reported the Wall Street Journal. Merrill will also sell a Mizuho unit, Mizuho Corporate Bank.
According to people familiar with the plans, the Wall Street Journal reported that Citigroup Incorporated (NYSE: C) is expected to announce a "sizable dividend cut" when it reports fourth quarter earnings this morning. The company is also expected to receive a cash infusion of at least $10B and a mortgage related write-down of as much as $20B.

OTHER PAPERS:

The Tories will not hinder Northern Rock nationalization, the UK Times reported. Shareholders are set to vote today on key proposals that could block a private sector sale of the bank.

WEB SITES:

According to a source, VentureBeat reported that Facebook is "one hundred percent buying" early social-networking site Plaxo.