Word: britain
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...panic? Late Thursday, it emerged that the Bank of England had agreed emergency credit for Northern Rock, Britain's fifth-largest mortgage provider and the U.K.'s first bank to be left reeling from the global credit crunch. Jitters in the credit markets were triggered by the collapse of a U.S. subprime mortgage sector built on lending to home buyers with poor credit histories. With that risky debt having been spliced, repackaged and flogged to banks around the world, financial institutions are less keen to lend each other cash. And when they do, they're charging each other more...
...Shares in the lender plummeted by a third in Monday morning trading (they'd already fallen by a quarter on Friday). But Northern Rock is still unlikely to fold. Britain's Financial Services Authority called the bank's loan book "good quality" in a statement issued jointly with the Bank of England and the U.K. Treasury last week. And though it's not yet clear how big the Bank of England's lifeline is, the central bank's cash means savers' own deposits are safe. "We are a well capitalized, solvent and viable business," Northern Rock CEO Adam Applegarth told...
...Late Thursday, it emerged that the Bank of England had pledged emergency credit to Northern Rock, Britain's fifth-largest mortgage provider and the U.K.'s first bank to be left reeling from the global credit crunch. Jitters in the credit markets were triggered by the collapse of a U.S. subprime mortgage sector built on lending to home buyers with poor credit histories. With that risky debt having been spliced, repackaged and flogged to banks around the world, financial institutions are less keen to lend each other cash. And when they do, they're charging each other more...
...Shares in the lender plummeted by a quarter on Friday (they'd already fallen by half this year). But Northern Rock isn't likely to fold. Britain's Financial Services Authority called the bank's loan book "good quality" in a statement issued jointly with the Bank of England and the U.K. Treasury. And though it's not yet clear how big the Bank of England's lifeline is, the central bank's cash means savers' own deposits are safe. "If I were a depositor, knowing I have the Bank of England behind me is probably the safest place...
...carefully designed study published in the British journal the Lancet shows that a variety of common food dyes and the preservative sodium benzoate--an ingredient in many soft drinks, fruit juices and salad dressings--do cause some kids to become measurably more hyperactive and distractible. The findings prompted Britain's Food Standards Agency to issue an immediate advisory to parents to limit their children's intake of additives if they notice an effect on behavior. In the U.S., there hasn't been a similar response, but doctors say it makes sense for parents to be on the alert...