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Did UK press play a role in banking crisis?
British lawmakers will quiz top financial journalists on Wednesday about whether they held any responsibility in the banking crisis.
lloyds-tsb
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Job losses prompt action
Policymakers facing mounting job losses prepared new measures to ease the pain on Monday.
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UK bails out banks with £37bn
Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.
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UK banks ‘set to unveil bailout plans’
Major British banks are likely to announce their plans to recapitalise early on Monday.
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Morgan Stanley in talks as fear grips financials
Morgan Stanley topped the list of major financial firms scrambling to find a buyer on Thursday amid panicked stock and money markets.
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FTSE dips as US recession fears offset oils
Britain’s FTSE 100 index dipped by mid-session on Monday as concerns of a looming United States recession offset gains in oil shares, HSBC and potential bid target Friend Provident. By 1201pm GMT, the FTSE 100 was down 6,6 points at 5 693,3, well off its day’s high of 5 718,8.
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Virgin team picked for Northern Rock rescue
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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Northern Rock shares plunge, customers flee
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
