Tag Archives: northern rock

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

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 and | 4 Comments

Scorched on the Rock

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The bank revealed that 6.4% of Together mortgages – the 125% loan-to-value product now withdrawn – are more than three months in arrears, up from 2.14% a year

Posted in News | Also tagged and | 1 Comment
Advert

Recent Comments

  • Michael BG
    Katharine Pindar, re your post of 5th Sept 6.37pm The Institute for Public Policy Research in August, as one of three suggestions for tax changes, proposed t...
  • Callum Robertson
    Councillors, officers and civic society have put thousands upon thousands of hours into planning for LGR. Unitary councils make logical sense and extra laye...
  • Roger Shelley
    Speaking from an area which is particularly tough for Liberal Democrats to gain traction (the East Midlands), the district and borough council seats have been f...
  • Michal Simon
    Apparently, a "stupid lower-class man" isn’t quite deserving of the empathy of an enlightened liberals. A Nigerian girl simply makes a much better poster. ...
  • Chris Bertram
    Fair point re our influence in district and borough councils, but you must admit that we haven't done too badly in the higher-level county councils and some if ...