UK bank rescued by takeover

Sep 18 - Britain's Lloyds TSB has sealed a rescue takeover of Halifax Bank of Scotland creating a dominant mortgage and savings bank in a $22 billion deal.

HBOS shares have been battered in past days by fears it was struggling to raise funds in wholesale markets as a global credit crunch deepened.

The deal was helped through by a competition rule change.

The focus on HBOS came as other banks around the world staggered under the weight of the crisis and raised memories of Northern Rock bank, which was rescued by a state-bailout in February.

Sonia Legg reports.