Northern Rock

Five years on from the credit crunch which sent global stock markets into disarray and ruined many banks around the globe, including Northern Rock in the UK, the landscape for investors has changed considerably.

The Treasury was too slow in nationalising Northern Rock during the height of the financial crisis, one of its top civil servants has said.

FAQS

Alistair Darling has refuted claims the lastgovernment rejected advice which could have prevented the run on Northern Rock.

Outgoing Financial Services Authority (FSA) chief Hector Sants has claimed the run on Northern Rock could have been avoided if the central bank had taken on board his recommendations.

Taxpayers face a £2bn loss from bailing out Northern Rock but it should be seen as a the price paid to secure 'financial stability', the National Audit Office (NAO) has said.

The UK's failed lenders, Northern Rock and Bradford & Bingley, today reported total profit for 2011 had surged 145% to almost £1.1bn.

The nationalisation and resale of Northern Rock will rake in a profit of up to £11bn for UK taxpayers, it was announced today.

Advisers do not relish telling clients “I told you so” when a savvy recommendation goes unheeded, but, as they tell PA, there have been a few opportunities to do so…

Aegon has been ordered to pay a customer £10,500 in compensation after it told him he would receive double the pension income he was actually due.