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/ 15 October 2007
Northern Rock’s bosses face their toughest grilling since the British bank was engulfed in a funding crisis a month ago when lawmakers quiz them on Tuesday on their strategy and assessment of risk. Northern Rock CEO Adam Applegarth faces a Treasury Committee panel that last month accused the Bank of England of being asleep at the wheel during the crisis.
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/ 17 September 2007
Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the business or its assets. Britain’s fifth-biggest mortgage lender said there was no need for investors or customers to panic
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/ 14 September 2007
Shares in British bank Northern Rock plunged by a quarter on Friday as clients rushed to withdraw their savings following an emergency bail-out of the lender by the Bank of England. The central bank came to the rescue of Britain’s fifth-biggest home-loan provider, which is facing severe difficulties raising cash on money markets amid the ongoing global credit squeeze.