Nortel Weighs Heavy on PPF
It seems that estimation was a somewhat optimistic, as Nortel's deficit appears to be closer to £2 billion ($2.87 billion), according to this report in The Guardian.
Now the U.K. government is under pressure to guarantee the PPF, which means the British taxpayer could end up shouldering the financial burden.
What next? Will the U.K. public be asked to fund Mike Z's sharp suit allowance, too?
— Ray Le Maistre, Finance & Fashion Editor, Light Reading