There have been six Scottish Councils revealed who may have lost money in failed Icelandic banks after control of Landsbanki was seized by the Icelandic government yesterday. A £120million school refurbishment project In Aberdeen may be the worst hit as the funds for this were in Landsbanki. South Lanarkshire had £7.5m invested there or in its its UK subsidiary Heritable, South Ayrshire had...

For as long as I can remember, as a child, I wanted to visit the country of Iceland. I have no idea (that is not quite true) where this need came from, but I managed to visit for the first time at the age of nineteen, and have been back five times since. It is fascinating country, known as the land of fire and ice, that sits on the edge of several tectonic plates in the North Atlantic.Iceland is a land of contrasts, from Reykjavik in the south to Myvatn in the north, which in the summer teams with bird life of all descriptions. In the midst is the desolate and windswept interior, a cold and at times inhospitable mixture of glaciers, volcanic lava and sand. Iceland boasts the second longest life expectancy in the world, and the world's highest literacy rates, with more books read per...

A rescue package will be announced for UK banks in the next few hours, after steep drops in banking shares.Jon Snow on Channel Four News said "The world has turned on its head" when reporting this.Over in Iceland, Landsbanki, the second largest bank, has been...

Iceland's government takes control of the country's second largest bank,...