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Northern Rock posts 232m loss for 2010


Northern Rock says it will pay £13m in staff bonuses, despite announcing a loss of more than £232m for 2010. The bank, which almost collapsed in 2007, was split in two last year to remove its historic loans and to prepare it for privatisation. Northern Rock says the loss is "disappointing", but it is making progress in a difficult trading environment. Business editor Robert Peston analyses the figures.

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