The former boss of Northern Rock will be entitled to a £760,000 (€954,300) payoff despite the bank being rescued by the Government, it was confirmed today.

Northern Rock will this week reveal details of the pay-off for its former boss and millions paid in advisory fees when it posts results for the first time since the bank’s crisis, it was reported today.

Richard Branson’s bid for Northern Rock has taken a blow after the crisis-hit lender placed a rival suitor on an equal footing, it was reported today.

The under-fire chief executive of beleaguered British mortgage lender Northern Rock was out of a job today.

Northern Rock’s potential rescuer has a strong record of snapping up stricken companies and nursing them back to health, often for big rewards.

Shareholders of beleaguered Northern Rock were facing up to more heavy losses today after the company admitted rescue plans for the group were “materially below” the company’s current value.

British Chancellor Alistair Darling will set out the UK government’s principles for the sale of troubled lender Northern Rock today.

The chief executive of crisis-hit mortgage lender Northern Rock resigned today.

Shares in crisis-hit Northern Rock jumped today after one of the City’s foremost bankers unveiled rescue plans for the mortgage lender.

Northern Rock suitor JC Flowers today unveiled a heavyweight management line-up for the stricken mortgage lender as talks over a possible offer continue.

Northern Rock’s embattled bosses today denied there was anything more they could have done to prevent the crisis that led to the UK's first bank run in nearly 150 years.

Bosses at Northern Rock will face their toughest grilling yet today as they prepare to publicly answer MPs regarding the recent crisis which has engulfed the mortgage lender.

The London market retreated today despite having come within touching point of the September 2000 highs earlier in the session.

Beleaguered mortgage lender Northern Rock’s shares surged nearly 25% today after a Monaco-based hedge fund built up a 4% stake in the business.

Fresh takeover hopes and reports of a possible £10 billion loan boosted investor sentiment in crisis-hit Northern Rock today.

Crisis-hit bank Northern Rock said today there had been a sharp fall in the number of people withdrawing money from the group.

Savers at Northern Rock have ignored pleas for calm and queued for a second day outside branches across the UK to empty their accounts.

Mortgage lender Northern Rock confirmed today that it had agreed emergency funding from the Bank of England after being rocked by the credit crunch in financial markets.

BRITISH bank Northern Rock has reported its highest half-yearly performance in the Irish market, since establishing a presence here seven years ago.

Banking group Northern Rock remained on course to meet annual profit expectations today after strong performances in all areas of lending.

Newcastle today unveiled North-East mortgage lender Northern Rock as their new club sponsor.