Darling unveils Rock rescue plans
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The taxpayer will underwrite Northern Rock's huge debt for as long as five years in a rescue plan to be announced.
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By Rebecca Sulock, The Herald, Rock Hill, S.C.  Sep. 21--An emergency infusion of cash from York County -- and money likely to come from the state -- will start work again at Blackmon Road after stubborn rock boulders cost more money to blast through than initially expected.
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The head of the Environment Agency calls for Â£1bn a year to prevent future flooding, as waters continue to rise.
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Embattled Financial Services Authority promises "root and branch" review of Northern Rock crisis.
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Britain set a two-week deadline for a private-sector rescue of Northern Rock that would allow the stricken bank's 25 billion pound emergency funding to be converted to government-guaranteed bonds to help smooth a deal.
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Alistair Darling tells the FT he plans to give the Financial Services Authority more power over banks.
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The British government said on Tuesday it was extending guarantee arrangements for Northern Rock  to cover some unsubordinated wholesale obligations of the stricken bank, whether existing now or in the future.
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The government is to offer more financial support to potential private sector buyers of Northern Rock.
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Alistair Darling admitted today lessons would be learned from the Northern Rock crisis and promised to strengthen protection for voters.
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The chancellor is to announce plans to make way for a private sector buyout of Northern Rock.
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The board of Northern Rock, leading an in-house bid to rescue the bank, revises its proposal.
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LONDON, Feb. 17 -- Treasury chief Alistair Darling said Sunday that struggling bank Northern Rock will be nationalized, after the government rejected two private takeover bids.
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Business & money: Blueprint to redevelop former MG Rover car plant unveiled by local authority leaders
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Chancellor warns nationalisation could be the 'more appropriate' solution for Northern Rock
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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.
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Chancellor of the Exchequer Alistair Darling is set to announce the nationalisation of troubled bank Northern Rock later Sunday, the BBC and Sky News television reported.
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British finance minister Alistair Darling announced on Sunday the temporary nationalisation of troubled bank Northern Rock, which was hit by the global credit crunch in August.