Mr Marcus McGowan MSc PgDip BA (Hons)

This Business Education Learning Blog is aimed primarily at Higher Business Management students/teachers and ICT students/teachers.

The aim of this blog is to provide you with interesting articles, news, trivia as well as resources or links to materials which will help in your course of study.

I am a Teacher of Business Education and I have written for Education Scotland and BBC Bitesize.

If you'd like to contact me please click on the link to: email me

Friday, 18 November 2011

Virgin buy Northern Rock from the Government

Northern Rock is being sold to Virgin Money for £747m, the government has announced.

Northern Rock was nationalised in 2008 following its near collapse at the beginning of the global credit crunch.

Northern Rock plc will be rebranded as Virgin Money, which has pledged no compulsory job cuts for three years.

On the news tonight it was reported that even with some add ons of another £200 million, the £1 billion total would still mean the taxpayer being out of pocket somewher ein the region of £400 million.

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