Steve Slater

Second lifeline for UK’s troubled banks

Britain threw its troubled banks their second multibillion-pound lifeline in three months on Monday.

UK to unveil bank rescue, Obama to tweak bailout

Britain is set to announce its second bank rescue and the incoming US administration said it will make its funds work harder to get credit flowing.

UK bails out banks with £37bn

Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.

UK banks ‘set to unveil bailout plans’

Major British banks are likely to announce their plans to recapitalise early on Monday.

Britain nationalises Bradford & Bingley

UK nationalised Bradford & Bingley on Monday, making the mortgage lender the second bank to be taken into public ownership this year.

UK may nationalise B&B bank

UK could nationalise troubled mortgage lender Bradford & Bingley in the third rescue of a major bank this year, people familiar with the matter said.

Paulson, Bernanke push bailout; Lehman deal looms

The architects of a -billion bailout for the United States financial system urged lawmakers on Tuesday to move quickly.

Morgan Stanley in talks as fear grips financials

Morgan Stanley topped the list of major financial firms scrambling to find a buyer on Thursday amid panicked stock and money markets.

Asia, Europe banks surge on US housing bailout

Asian and European bank shares soared on Monday after the US government took control of mortgage finance firms Fannie Mae and Freddie Mac.

Tsvangirai seeks to control home affairs

Zimbabwe's main opposition faction is prepared to sign a power-sharing deal provided that it is given the powerful Ministry of Home Affairs.

UK backs Northern Rock bonds, seeks rescue bids

Britain set a two-week deadline for a private-sector rescue of Northern Rock on Monday, as it confirmed plans to convert its billions of pounds of loans to the stricken bank into bonds in a bid to smooth a deal. The financing package will tie the government to Northern Rock, Britain's biggest casualty of the global credit crunch, for years to come.

Virgin team picked for Northern Rock rescue

A consortium led by Richard Branson's Virgin Group has been picked as the preferred bidder to rescue Northern Rock and plans to repay £11-billion (,6-billion) quickly to the Bank of England. Half the cash will come from the consortium and half will be raised through a rights issue at 25 pence per share.

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