Olivant announces withdrawal from Northern Rock race
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Investment group Olivant said Monday it had withdrawn from the running to offer a rescue package for troubled British bank Northern Rock, shortly before the deadline expired for bids to be presented.
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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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Northern Rock will hold an emergency meeting for shareholders on its sale process on 15 January.
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Fears grew on Saturday that panic among savers at British bank Northern Rock will see a run of withdrawals after reports that 1 billion pounds ($2.01 billion) had already been taken out.
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SÃBASTIEN LOEB, the new rallying world champion, will be the highest-profile casualty of a shock decision yesterday by two leading French manufacturers to pull out of the sport.
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Jaguar have announced that they will pull out of Formula One at the end of the year. Joe Greenwell, company chairman and chief executive, said that revealed financial reasons were behind the company&#39;s decision to end interest in the sport.
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TROUBLED nuclear power group British Energy yesterday said it was removing itself from the stock market in a bid to stop rebel shareholders scuppering its rescue package.
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There will be no pay-off for Northern Rock chairman Matt Ridley, who resigned on Friday.
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Motorsport.com. When Honda announced it is to become part owner of BAR, it was also made known that team principal David Richards will be leaving.
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Business & money: Â· Alcoa bows out of contest in face of $38bn offer Â· Bid battle helps push Dow Jones to record close
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Automotive parts maker and petrol and LPG distributor Ion Ltd was suspended from trading on the Australian Stock Exchange and had an administrator appointed after bankers withdrew support for the company.
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Business & money: The government yesterday handed Northern Rock a further lifeline as it struggled to keep the stricken bank afloat and push through a private sale
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The chipmaker withdraws after being asked to end support for all non-OLPC platforms. This doesn't square with Intel's plans to build a cheap laptop of its own.
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The Bank of England was authorized to provide a âliquidity support facilityâ to Northern Rock, prompting a sell-off of British bank stocks.
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Billionaire businessman Mike Ashley announced Friday that he will withdraw Newcastle United from the stock market after increasing his stake in the club to 77.06 percent.
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Leading shares closed in positive territory with Northern Rock clawing back some of its recent losses on hopes that a mystery bidder is planning a takeover of the embattled lender.
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MACQUARIE Bank Ltd announced a suspension of trading in its shares after the market closed today. Paterson Securities adviser Michael Heffernan said the trading halt could be related to two issues - the