Northern Rock news from The Journal

Rock boss’s upbeat vision of the future Aug 06 2008

THE man responsible for rebuilding Northern Rock has said the bank can win back savers’ confidence despite announcing losses of more than half a billion pounds.Read

20% of Rock customers face negative equity Aug 04 2008

Around a fifth of mortgage customers of Newcastle-based Northern Rock face the prospect of negative equity next year as house prices slump, it has been reported.Read

Date set for Rock shares hearing Aug 04 2008

NORTHERN Rock shareholders’ pressure for a judicial review into the way the bank was nationalised has finally borne fruit.Read

World watches as Rock gets big name Jul 24 2008

A SENIOR director of banking group Barclays yesterday agreed to take up the challenge of leading Northern Rock back to independence in the private sector.Read

Hoffman at helm for Northern Rock Jul 24 2008

NATIONALISED bank Northern Rock has named its new boss.Read

Northern Rock reveals new boss Jul 23 2008

Nationalised bank Northern Rock announced the appointment of Barclays director Gary Hoffman as its new chief executive today.Read

Appeal to Rock staff Jul 23 2008

NEWCASTLE Building Society (NBS) has urged redundancy-threatened Northern Rock staff to apply for work after signing a deal worth over £10m with a national finance firm creating 50 jobs.Read

High-profile casualties of market slump Jul 16 2008

Today’s publication of The Journal Top 250 companies has two notable absentees. Andrew Hebden reflects on how the credit crunch and the collapse of the housing market has robbed the prestigious listing of two of its best-known names.Read

Smelt is Rock’s new HR director Jul 15 2008

NORTHERN Rock has a new member of its executive team.Read

Ten firms in running for the job of valuing Northern Rock Jul 07 2008

AROUND 10 different firms have put their names in the hat to value Northern Rock, despite the possibility of legal action resulting.Read

Gieve ‘sorry’ over Rock deal Jun 20 2008

THE OUTGOING deputy governor of the Bank of England told Tees Valley business leaders that he was “sorry” the Bank had not managed to broker a private rescue deal for Northern Rock.Read

Undesirable echoes of Rock reporting Jun 04 2008

PERHAPS I’m just a paranoid Northerner, but I couldn’t help feeling that the television coverage of the Bradford & Bingley profits warning this week had undesirable echoes of the patronising style of reporting which was so prominent during the Northern Rock crisis.Read

Bank to double debt staff numbers claim May 30 2008

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

Estimates reveal debt rise breaches rule May 22 2008

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

Rock’s ‘on the way to revival’ May 13 2008

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

Rock valuation battle Apr 24 2008

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

How times have changed in the banking sector Apr 23 2008

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

Rock to reveal boss’ payoff Mar 31 2008

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

Rock counter staff likely to keep jobs Mar 19 2008

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

2,000 jobs face axe Mar 18 2008

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

Your nebusiness

Get involved...

We want your local stories, videos and pics.

Videos and pictures

Our latest videos and picture galleries

Email Alerts

North East business news direct to your inbox

Business Events Diary

Add your business event

This is a free business events diary service. Add all your up-coming business seminars, meetings, talks and events to our interactive calendar. Read