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/ 13 January 2008
After years of crisis, the big three United States automakers face another brutal year with demand expected to dip again due to an economic downturn threatening to snuff out 2007’s timid recovery. The world’s major automakers will exhibit upcoming models and the concept cars of the future from Sunday as media previews kick off for the Detroit motor show.
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/ 26 November 2007
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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/ 14 November 2007
Shareholders in ailing British bank Northern Rock could be left with nothing and the Bank of England could still be funding the lender in three years. A briefing memorandum sent to potential buyers of Northern Rock by its advisers showed it could still owe as much as £5,9-billion to the Bank of England in 2010.