Nationalisation of Northern Rock that Northern Rock was to be nationalised claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under a "temporary period of public ownership". The government is the sole shareholder through UK Financial Investments Limited, and the Bank is managed at "arm's length" on a commercial basis by an independent board under Ron Sandler. Customers are not affected by this change. A Government-appointed arbitration panel will decide on a fair price for the compensation to be offered to investors for their shares. Prior to the markets opening
Executive of the 1974 Northern Ireland Assembly Executive of the 1974 Northern Ireland Assembly A power-sharing Northern Ireland Executive was formed following the Northern Ireland Assembly elections of 1973. The executive served as the devolved government of Northern Ireland from 1 January 1974 until its collapse on 28 May 1974. Elections to a Northern Ireland Assembly were held on 28 June 1973. On 21 November, the Sunningdale Agreement was reached on a voluntary coalition of pro-agreement parties, and the Executive took office on 1 January 1974. Prominent members of the executive included former Ulster Unionist Party Prime Minister Brian Faulkner as Chief Executive, then Social Democratic and