Updates on Northern Rock

Good news for Northern Rock depositers! Virgin is arriving for a rescue! Although they will be paying just a third of the bank's value, at least Virgin will be paying half what Northern Rock has borrowed. That is really good news. At least the BOE will see money coming in from Virgin.

I think by allowing Virgin to buy off Northern Rock, Virgin is actually going to earn money in the long term. Look at Virgin megastore!!! It is now rebranded as Zavvi!!! Good thing, right?

Have a look at here.