| Abstrakt: |
NORTHERN Rock is racing against the clock to put the finishing touches to its annual results ahead of Monday, with a raft of writedowns and charges set to push the group into the red for 2007. The accounts 'won't make pretty reading', sources said, since the bank has been forced to shell out millions on advisers and lawyers as well as mark down the value of its investments in dodgy debt. It is a far cry from this time last year, when the former stock market darling announced earnings of £627m. [ABSTRACT FROM PUBLISHER] |
