Morning Markets: B&B comes under state control

The banking sector has come under further scrutiny following the announcement that struggling mo...

The banking sector has come under further scrutiny following the announcement that struggling mortgage lender Bradford & Bingley will be nationalised and its savings business sold to Spanish bank Santander in a huge £612m deal. Shares were today suspended ahead of the expected nationalisation of the struggling mortgage lender. The Financial Services Authority's move came as markets awaited official confirmation of the Government's plans. Chancellor Alistair Darling said the Government had taken quick, decisive action to maintain economic stability and promised that the taxpayer would be...