News

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.

Northern Rock continues Newcastle sponsorship

Nationalised lender Northern Rock today said it would continue to sponsor Newcastle United Football Club after signing another four-year deal worth up to £10 million.

Treasury fires starting gun on race to buy the Rock

State-owned bank is split in two ahead of sale of performing assets

Nationalised Northern Rock split into two

Nationalised Northern Rock was split into two today as the race to take over the "good" part of the bank stepped up a gear.

Pym to be chair of Northern Rock bad bank

Richard Pym has been appointed as chairman of Northern Rock's "bad bank". He was chief executive of Alliance & Leicester between 2002 and 2007 and is chairman of Bradford & Bingley, another nationalised bank.

Northern Rock's shareholders should get nothing, says valuer

Bank would have faced a £5.7bn black hole had it gone into administration

Jon Wood: 'We lost out because Rock was the first to suffer'

Owing to the unrealistic terms of reference imposed by the Government, the valuer has confirmed our submission to the courts: that this "compensation" scheme is a "no compensation" scheme by a Government in denial.

No compensation for Northern Rock shareholders

Former Northern Rock shareholders are unlikely to receive a penny in compensation following the nationalisation of the bank, a report costing £4.5 million warned today.

Beginner's Guide To: The Financial Services Compensation Scheme

This week has seen the announcement that the Yorkshire and Chelsea building societies may be joining forces in a possible merger. Many customers will be unsure about the implications for their savings. This week we look at the Financial Services Compensation Scheme (FSCS), what it means and how it protects you.

Three new banks (two not so new) to open on high street

Three new high street banks will be formed as Royal Bank of Scotland and Lloyds Banking Group are broken up.

Rock up for sale as EU clears split

Brussels has given the go-ahead for the UK to split up Northern Rock and sell parts of it, but taxpayers face a 10-year wait for their money back

James Moore: Why this valuable prize should go to a newcomer

If anyone two years ago had described Northern Rock as the "belle of the ball" they would have been laughed off stage. But after all the junk has been carved out of it, with the help of a £27bn dowry from the taxpayer, that is what it will be.

Northern Rock could take decade to pay back taxpayer

Nationalised Northern Rock could take a decade to pay back the taxpayer, its chief executive said today.

Government to break up the banks

Lloyds, RBS and Northern Rock will be split up in state sell-off

Northern Rock takes new step to break-up and sale

Northern Rock is to begin looking for new non-executive directors after EU regulators approve its split into two this week.

Virgin Money woos Sanderson over 'good bank'

Virgin Money is holding talks with former Northern Rock chairman Bryan Sanderson with a view to him joining the board of its new bank ahead of a possible bid for Northern Rock’s “good bank”. Discussions are understood to have been held, although there are still issues to be hammered out such as fee and role.

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Air strikes? Talk of God? Obama is following the jihadists’ script

Air strikes? Talk of God? Obama is following the jihadists’ script

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Billy Graham’s son declares righteous war on Ebola

A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
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Not even Jeremy Clarkson is bigger than the BBC, says TV boss

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Nick Clegg the movie

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Waxing lyrical

Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
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We know all too much about the cruelty of Isis – but all too little about who they are

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The new Scots who hold fate of the UK in their hands

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'Lack of ethnic minority and black faces on TV is weird'

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