Darling says planning emergency bank rescue package
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Britain's finance minister said on  Wednesday he was working on a set of measures which will allow  the government to launch emergency rescues if other banks run  into trouble similar to that experienced by Northern Rock.
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British finance minister Alistair Darling called Friday for &quot;international action&quot; to confront risks to stability in the banking sector after the bailout of major British mortgage lender Northern Rock.
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The first tranche of emergency flood relief cash was released by the government yesterday to councils facing multimillion-pound bills in the north of England.
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The Bank of England is set to offer lenders an extra Â£10bn in funds to limit the impact of a credit crunch.
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Business & money: The government may need to come up with an extra Â£1bn to fund a massive redundancy programme to help the Royal Mail out of its crisis.
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Alistair Darling calls on Britain's banks to be more cautious lenders amid concerns over consumer debt.
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The Bank of England has stepped in to provide emergency financial support to Britain&#39;s fifth-largest mortgage lender Northern Rock, the latest institution to fall victim to market turmoil, officials confirmed Friday.
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The government is to blame for the crisis which has hit Northern Rock, says the Tory leader.
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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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Business & money: Governor to defend handling of crisis today after announcing cash, at penal rates, for money markets.
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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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The Government's own advisory group says urgent action is needed to help vulnerable households
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Emergency legislation is to be introduced to temporarily nationalise the stricken Northern Rock bank.
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The government came under pressure on Thursday to step up its response to last monthÃÂÃÂs flood disaster and provide cash to South Yorkshire and Humberside flood victims as Community Secretary Hazel Blears visited the area.
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Victims of previous financial collapses call on government to extend Northern Rock pledge.
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Barclays  and Royal Bank of  Scotland  have lined up emergency funds of up to $30  billion from the U.S. Federal Reserve to bail out American  clients caught up in the global credit crunch, a paper said.
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Plan to bail out struggling sub-prime mortgage defaulters soothes troubled financial markets.