EU approves Northern Rock split

The European Union (EU) has approved plans for nationalised bank Northern Rock to be split in two - paving the way for a partial sale.
One business, described as the "good" bank, would hold savers' money, carry out new lending and hold some existing mortgages.
A second "bad" bank would be set up to hold the rest of the mortgages and repay outstanding government loans.
Northern Rock said the EU's approval was "an important and positive step".
It added that it was "business as usual" for customers