Northern Rock to be nationalised
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Alistair Darling admits failure in attempts to find a buyer for the stricken bank
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Business & money: Northern Rock's chairman, Matt Ridley, will leave the troubled company without a 'golden goodbye'.
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The former head of Lloyd's insurance market, Ron Sandler, said Saturday he has been appointed to lead troubled British bank Northern Rock should it be nationalised.
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Alistair Darling admits he nationalised Northern Rock after failing to find a buyer
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Britain decided to nationalize Northern  Rock  on Sunday, abandoning a five-month attempt to  snare a private sector buyer for the ailing bank and piling  more pressure on Prime Minister Gordon Brown.
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The bill to nationalise Northern Rock is to be debated in the Commons, with the Tories set to vote against it.
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The future of ailing British bank Northern Rock -- including possible nationalisation -- is to be decided in the next six weeks, the Chancellor of the Exchequer Alistair Darling said in an interview on Saturday.
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The Bank of England has agreed to provide emergency funding to mortgage lender Northern Rock after it fell victim to the liquidity squeeze in the banking sector, media reports said on Thursday.
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British Prime Minister Gordon Brown defended his decision to nationalize the struggling lender Northern Rock but some shareholders are threatening legal action.
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The Treasury recruits a senior City figure to be Northern Rock boss should the bank be nationalised.
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Northern Rock sells Â£2.2bn of its mortgage assets to US bank JPMorgan, saying it will repay the Bank of England.
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SHANGHAI/LONDON  - Britain will back a plan to covert its lending to Northern Rock into bonds, a source familiar with the matter said, potentially tying itself to the bank for years but avoiding full-scale nationalization.
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Britain said on Sunday it will  nationalize ailing mortgage lender Northern Rock  for a  temporary period as it was not in the taxpayer's best interests  to sell it to the private sector now.
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U.S. financial services firm GMAC is  preparing to spearhead a bid for British mortgage lender  Northern Rock , according to Britain's Sunday Times  newspaper.
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The government is to offer more financial support to potential private sector buyers of Northern Rock.
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The British government is to support a plan to turn the Bank of England's loans to troubled bank Northern Rock into bonds for sale, the BBC reported Saturday.
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Britain set a two-week deadline for a private-sector rescue of Northern Rock, as it confirmed plans to convert its almost 25 billions pounds ($49 billion) of loans to the stricken bank into bonds in a bid to smooth a deal.