Goldman Sachs’ private equity arm is set to announce a £150m investment in insurance group Hastings Direct that will leave chairman Neil Utley cashing in tens of millions of pounds from the business he turned around after buying it in 2008.
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Saturday 18 June 2011
There's a great opportunity to give a massive boost to the mutual sector by ensuring that state-owned bank Northern Rock is returned to it. In his Mansion House speech this week, George Osborne announced a sale of Northern Rock adding: "Any interested parties can bid for it, including mutuals, which this Government is actively committed to promoting."
Thursday 16 June 2011
A buyer for Northern Rock, the bank nationalised in 2008, will be found by the end of the year, the Chancellor, George Osborne, announced last night.
Monday 23 May 2011
Tuesday 17 May 2011
Saturday 14 May 2011
It was kind of David and Gail Sheals to spend so much time showing me round their Cumbrian garden. Outside their back door stood a mountain of cardboard boxes, packed with 300 small pots of Ilex crenata. The dreaded blight had killed all the box hedging in a part of the Sheals's wonderfully intricate garden and they hope that the little ilex, much used for topiary in Japan, will prove to be a suitable replacement. If I'd been them, I would have been dropping hints about the best route to the motorway, so I could start planting. But no. They even offered coffee.
Thursday 12 May 2011
Rab Capital, the former star hedge fund now notorious for investing in Northern Rock, is set to leave the stock market following a fresh wave of redemptions and the departure of a top fund manager.
Thursday 07 April 2011
RAB Capital has agreed to pay out 79 per cent of its Special Situations Fund to investors, leaving the former $3bn (£1.8bn) fund with less than $100m.
Friday 01 April 2011
The bank managing Northern Rock and Bradford & Bingley's risky mortgages warned yesterday that arrears and repossessions would rise this year as household incomes are squeezed.
Thursday 31 March 2011
Coventry Building Society said tonight that it believed Northern Rock customers would benefit if it were to take over the nationalised lender.
Thursday 31 March 2011
The state-owned company that runs nationalised Northern Rock Asset Management and Bradford & Bingley today said both companies returned to profit last year.
Wednesday 30 March 2011
Newcastle have revealed a loss of £17.1million as a result of their relegation from the Barclays Premier League.
Tuesday 29 March 2011
Northern Rock stunned unions yesterday by announcing it would slash a quarter of its already drastically depleted workforce.
Monday 28 March 2011
Nationalised lender Northern Rock said today that it expects a further 680 job losses by the end of the year as it moves to drive down its costs.
Wednesday 23 March 2011
Northern Rock is going back into the securitisation market for up to £370m of funding three years after its reliance on packaging mortgages as bonds drove it into state ownership.
Friday 18 March 2011
Taxpayers were saved around £1.5 billion after Government moves to buy back debt in nationalised lenders Northern Rock Asset Management and Bradford & Bingley, the public spending watchdog said today.
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