Cancer centre 'could lose £7.5m'

Published Date: 11 October 2008 One of the UK's leading cancer treatment centres has revealed it could lose £7.5 million as more casualties of the Icelandic banking system's meltdown emerged. The Christie NHS Foundation Trust, in Manchester, said the bulk of the money - £6.5 million - was made up of charity donations while the remainder deposited with Kaupthing Singer & Friedlander had come from the NHS. The money had been put aside to fund research and service improvements in the next five years, the trust said in a statement last night. The collapse of Iceland's major banks also caught out the Chelsea Building Society, which has some £55 million invested in the troubled country. Local authorities have around £1 billion tied up, while charities stand to lose more than £120 million. On Friday, Treasury officials arrived... [read full story]