British Prime Minister Gordon Brown backed down from replacing his finance minister on Friday in a bid to hold his government together.
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/ 23 February 2009
Britain will inject billions of pounds into state-owned Northern Rock to try to unlock lending and help the economy emerge from recession.
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/ 13 January 2009
British Prime Minister Gordon Brown has slipped further behind the opposition Conservatives in an opinion poll on Tuesday.
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/ 13 October 2008
Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.
Bold, comprehensive and at times surprising, the UK’s bail-out plan for partial nationalisation is just what the system needed, writes Will Hutton.
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/ 10 October 2008
Global finance chiefs gathered in Washington for crisis talks on Friday as panic spread in global financial markets.
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/ 18 September 2008
Larry Elliott takes a look at the bail-out which is a nationalisation designed to avert the worst market collapse since the 1930s.
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/ 27 November 2007
Britain has asked the European Commission to approve the aid it has provided to struggling mortage lender Northern Rock, a Commission spokesperson said on Tuesday. ”Last night [Monday], the British government notified us,” EU competition spokesperson Jonathan Todd said.
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/ 21 November 2007
British Prime Minister Gordon Brown faced angry questions from lawmakers on Wednesday after confidential records containing nearly half the population’s bank details went missing in the post. The disappearance of about 25-million people’s personal data vanished in the biggest-ever loss of personal information by any government.
British Prime Minister Gordon Brown on Monday said he took ”full responsibility” for the decision not to call an early election, but rejected claims he had run scared from a possible defeat. Brown told an often rowdy news conference that he had instead opted to wait and take a long-term approach before going to the polls.
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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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/ 16 September 2007
Troubled British bank Northern Rock faced break-up rumours on Sunday as it sought to reassure panicking customers and investors following an emergency bail-out by the Bank of England. Worried customers besieged Northern Rock on Friday and Saturday to withdraw their savings — despite assurances that it would not fall victim to the global credit squeeze.
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/ 15 September 2007
Worried customers were expected to keep withdrawing savings en masse on Saturday from embattled British bank Northern Rock after the Bank of England bailed out the lender. Customers formed lengthy queues outside branches on Friday after Britain’s fifth-biggest home-loan provider said it was facing severe difficulties raising cash to cover its liabilities.
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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.