UK's Northern Rock Receives Emergency Funding
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News from overseas that UK lender Northern Rock Plc received emergency funds from the Bank of England is creating uncertainty in US markets today.
Northern Rock Plc, the UK's third larges lender, said the central bank will provide it with an unspecified amount of credit. Shares of Northern Rock tumbled to a six year low on the news.
Northern Rock Plc, the UK's third larges lender, said the central bank will provide it with an unspecified amount of credit. Shares of Northern Rock tumbled to a six year low on the news.
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