View more on these topics

Brown thinks Northern Rock rescue will make profit

The Prime Minister told MPs yesterday at Question Time that it believes it will make a profit from its rescue of Northern Rock.

Gordon Brown said: “It is out intention to get the taxpayer the best deal adn to get the taxpayer their money back and to make a profit.”

This follows reports that following the Government’s new proposal on Monday to convert Northern Rock’s loan into state-backed bonds, several new suitors have entered the frame.

The Daily Mail claims that former bidders JC Flowers and Cerberus are having renewed looks at the bank, and some UK mortgage lenders are also interested in having a look at the term sheet for the bank.

Recommended

Bond bid to boost bidders for Rock

A private sector solution for Northern Rock is back on the cards after the Government set out plans to convert the firm’s £25bn Bank of England loans into state-backed bonds.The move is likely to see new bidders for the lender enter the fray and a deadline of February 4 has been set for proposals to […]

Paragon set to stop lending

Paragon is expected to cease lending on February 28 because its warehouse loan facility is not being renewed. The facility, which funded new lending, failed to secure acceptable terms for the extension of its term but Paragon says assets already funded at that date will remain funded until they mature.

Japan: the Land of the Rising Dividends

By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment