Northern Rock

The Investment Management Association (IMA) has called for a separate bank deposit insurance system allowing depositors instant access to their money in the event of insolvency.

Royal Bank of Scotland (RBS) announced profits will be well ahead of forecasts of £9.9bn despite a £1.5bn sub-prime hit.

The FTSE100 had a strong start to the day, up 1.28% to 6,396.20, powered by good numbers from mining companies and housebuilders.

The mortgage industry must consult internally on what lessons can be learned from the summer credit crunch, according to Jon Pain, chairman of the Council of Mortgage Lenders.

The FSA must suspend the trading of shares in Northern Rock to prevent fat cats making profits from the beleaguered bank, the Liberal Democrats have warned.

Chancellor Alistair Darling has hit back at critics of the Government's handling of Northern Rock, claiming the beleaguered lender would have gone under without intervention.

The Association of Mortgage Intermediaries (AMI) says it hopes the winning bidder for Northern Rock will stay committed to the intermediary market.

Trading in Northern Rock shares should be suspended as City "sharks" are taking enormous positions at the expense of the small shareholder, Liberal Democrat Leader Vince Cable says.

Northern Rock has announced it wishes to make "accelerated" discussions on a possible deal with Virgin Money.

Fresh doubts emerged last night about Northern Rock's ability to repay the £23bn of taxpayers' money it has been lent by the Bank of England, The Guardian revealed.