THE BBC claimed this morning that the newly-nationalised Northern Rock is to double the number of staff dealing with customer debt management as homeowners struggle to repay loans.Read
THE nationalisation of Northern Rock has added more than £92bn to public debt and breached the Treasury’s sustainable investment rule, according to official estimates today.Read
NORTHERN Rock is on course for recovery despite the problems of the wider economy, the bank’s executive chairman revealed yesterday. Ron Sandler yesterday revealed that the bank’s arrears had risen since the start of the year as mortgage borrowers struggled to pay higher rates caused by the credit crunch.Read
A LEGAL battle between Northern Rock shareholders and the Government has come a step closer following Treasury lawyers’ rejection of investor pleas for “fair compensation”.Read
CAST your mind back 12 months. Adam Applegarth had just outlined his vision of Northern Rock becoming one of Britain’s biggest three banks within five years after announcing pre-tax profits of more than £587m.Read
NORTHERN Rock will today reveal details of the pay-off for its former boss and millions paid in advisory fees when it posts results for the first time since the bank’s crisis.Read
FRONT LINE staff serving at Northern Rock branches on Teesside are likely to hang on to their jobs as 2,000 colleagues - most of them in the bank’s North-east heartland - face redundancy. The majority of the cuts will come this year.Read
NORTHERN Rock will today announce plans to make a third of its workforce redundant. At least 2,000 staff will be axed over the next three years as the bank changes to conform with European Union rules on state aid.Read
The renowned City analyst Justin Urquhart Stewart appeared in Hexham last week at AYP Financial’s Wise Investment Event. Here, to coincide with his visit to the North East, he outlines his thoughts on the latest turn of events at ‘The Rock’Read
TEES businessmen have given the Government a huge thumbs-down over its treatment of Northern Rock, with 71.4% believing it was a mistake to nationalise the stricken bank.Read
THE new chairman of Northern Rock last night hailed the resilience of the bank’s thousands of North East employees, saying they displayed the “very best characteristics” of the region.Read
EMERGENCY legislation to nationalise Northern Rock is expected to become law today amid warnings the taxpayer was being saddled with the bank’s bad debts.Read
IN the midst of such a momentous week for the North East, it has been hard to hold a conversation with a business- man or woman in the region without talk eventually getting round to the Northern Rock saga.Read
A NEW era dawned for Northern Rock last night. And under the guidance of new executive chairman Ron Sandler, the nationalised bank can now start rebuilding its battered reputation.Read
IN WHAT is already a jittery time for the banking and finance sector, high street lenders will soon have a new rival moving in next door – the Government.Read
NATIONALISATION has loomed large for Northern Rock since the scale of the crisis facing the bank emerged last September, but that did not detract from the sense of shock felt when Alistair Darling announced the move at 4pm yesterday.Read
Sir Richard Branson’s Virgin Group may be forced to pay as much as £200m to the Government if it succeeds in rescuing Northern Rock, a report said today.Read
