A buy-to-let mortgage lender that narrowly escaped disaster during the credit crunch has emerged as a surprise contender to buy Northern Rock.
Paragon, the £600m specialist lender, is among the parties that have asked for information on the sale of the nationalised bank. Buying Northern Rock would double its size overnight and enable it to convert into a full-scale bank. MORE... (from The Sunday Times - requires subscription) An investment bank embroiled in a potential fraud investigation that counts former England football manager Sven-Göran Eriksson among its victims has missed another self-imposed deadline to return millions of pounds to shareholders. MORE..
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