Northern Rock confirmed today that its new bosses have launched an investigation into whether legal action can be taken against the now nationalised bank’s former board.

Northern Rock is to more than double the number of people who work in its debt management arm, according to a document seen by the BBC.

The head of Northern Rock today said it was “in the commercial interests” of the publicly-owned lender to continue sponsoring Premiership football team Newcastle United.

Nationalised bank Northern Rock said today that arrears had risen since the start of the year as mortgage borrowers struggled to pay higher rates caused by the credit crunch.

British nationalised mortgage lender Northern Rock reported an increase in arrears today, but said it was making “solid progress” with its business plan.

Nationalised British mortgage lender Northern Rock today began consultations with unions and staff regarding plans to axe 2,000 jobs.

Northern Rock is close to submitting a plan expected to outline 2,000 job cuts to the UK government, the bank’s chairman said today.

A legal battle between Northern Rock shareholders and the UK Government came a step closer today after Treasury lawyers rejected investor pleas for “fair compensation”.

A last-ditch Conservative Party bid to reverse the nationalisation of Northern Rock was thwarted in the British parliament today.

A £760,000 (€954,721) pay-off for the former chief of nationalised bank Northern Rock was today branded a “reward for failure”.

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 shareholders are to reveal details today of their plans to take legal action over compensation.

More than 2,000 staff at nationalised mortgage lender Northern Rock face losing their jobs, it was reported today.

The transfer of Northern Rock to public ownership has been completed after Chancellor Alistair Darling signed off its nationalisation in the UK today.

Legislation to nationalise Northern Rock passes to the House of Lords today, after it was rushed through all its Commons stages in a single day.

The nationalisation of Northern Rock will begin in earnest today as MPs debate giving ministers emergency powers.

UK consumers were today left to weigh up the pros and cons of putting their money into Northern Rock after the bank’s new chairman said it was “business as usual”.

The new boss of troubled UK bank Northern Rock today said nationalisation was not about running the bank “down to extinction”.

UK Chancellor Alistair Darling will today put forward emergency legislation in Parliament to nationalise Northern Rock.

The UK Treasury today announced that the beleaguered bank Northern Rock will be nationalised.

UK Chancellor Alistair Darling suffered fresh attacks over his handling of the Northern Rock crisis today amid speculation that the crippled lender faces imminent nationalisation.

The board of beleaguered Northern Rock will attempt to fight off demands from shareholders for a greater say in the firm’s future at an extraordinary meeting this week amid speculation the bank could be renationalised within days.

The British Treasury has signed up savings guru Ron Sandler to head Northern Rock in the event of bank’s nationalisation, it was confirmed today.

The independent directors of UK IT hardware firm Computacenter have rejected a takeover proposal from the company’s co-founders, it was reported today.