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NCE's Review of the Year 2008 - October

NCE looks back on the year the banking world imploded, Heathrow Terminal 5 opened in chaos and Crossrail – described by former transport secretary Ruth Kelly as the biggest infrastructure project in the northern hemisphere – finally gained political approval and funding...

October was all about banking, as it was the month the ongoing global financial crisis turned from a media blowout to something more tangible.

The collapse of the Icelandic banks affected UK local authority finances and collapse of global merchant banks like Lehmann Brothers resulted in construction firms scrabbling for money owed.

Everyone knew a slowdown was happening, but the speed and depth to which the UK slid into recession has left many of us gasping.

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