Tag Archives: northern rock

News in brief: The disappearing alarm clock, Vince Cable’s favourite moment and more

By Mark Pack | Mon 20th June 2011 - 8:55 am

The police have returned the paperwork related to David Laws’s expenses – which suggests that they have not found anything in it worthy of legal action.

Asked by me at the weekend what his favourite moment had been since last year’s election, Vince Cable said it was getting drive an Aston Martin DB9 at 150mph. He swiftly added that this was on a racetrack rather than a road…

On a more substantive issue – he was also hopeful that a mutual buyer could be found for Northern …

Posted in News | Also tagged david laws and vince cable | 4 Comments

Scorched on the Rock

By Stephen Tall | Wed 5th August 2009 - 10:30 am

Yesterday Northern Rock – taken into public ownership 18 months ago – posted its figures for the first six months of the year. They made for eye-watering reading:

Nationalised bank Northern Rock made a pre-tax loss of £724m for the first six months of the year as its bad debts tripled. The Newcastle-based firm wrote off £602m in bad loans and expects that figure to be similar in the second half of 2009.

The bank revealed that 6.4% of Together mortgages – the 125% loan-to-value product now withdrawn – are more than three months in arrears, up from 2.14% a year

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