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WHAT HAPPENED ON 25th October 1996?
24th October 1996
GILTS AUCTION
OVERSUBSCRIBED The Treasury has successfully unloaded a further tranche of gilt-edged stock. The Bank of England said its auction of #1.5bn worth of stock maturing in 2015 was covered by bids 2.66 times. It said all of the stock which pays a fixed 8% per annum was allotted at a price of £101 11/32 which amounts to an equivalent yield of 7.86%. There was a non-competitive allotment of £137.8m. Total bids received amounted to £4.0bn. Fantasy Options Exchanges Moneyfile 19:33/02; 1/3 " GILTS AUC ION # OVERSUBSC
25th October 1996
Supermarket giant Sainsbury plans to
move into the banking sphere. Sainsbury's Bank ` as the newly-formed company will be called ` will be 55% owned by Sainsbury's & 45% per cent owned by the Bank of Scotland. If the Bank of England gives permission for the deal to go-ahead the company will be the first supermarket to enter consumer banking. It would open for business in 1997.
25th October 1996
SAINSBURY ANNOUNCES JOINT BANK VENTURE
Supermarket giant Sainsbury has announced plans to open a new bank in partnership with the Bank of Scotland. Sainsbury's Bank will start in 1997 subject to Bank of England & regulatory approval. It will be 55% owned by Sainsbury & 45% by the Bank of Scotland. If it gets clearance it will be the first supermarket to enter consumer banking offering deposit lending & cash management services to customers.
24th October 1996
FINANCIAL RESULTS
Minmet
(Mineral exploration
etc)
Interim results:
Dividend: nil (same)
EPS : 0.00p(0.17p)
Pre-tax :I£0.03m(I£0.28m)
Turnover: nil (I£65.65m)
*The chairman says the company has
made significant progress over the past
12 months & is now looking forward to
this rapid progress being maintained in
future years. The British Geological
Survey has started detailed exploration
on the Credition concession.
25th October 1996
Supermarket giant Sainsbury plans to
move into the banking sphere. Sainsbury's Bank ` as the newly-formed company will be called ` will be 55% owned by Sainsbury's & 45% per cent owned by the Bank of Scotland. If the Bank of England gives permission for the deal to go-ahead the company will be the first supermarket to enter consumer banking. It would open for business in 1997.
25th October 1996
NATIONAL GRID
ACCEPTS PLANS The National Grid has accepted the one- off 20% price cut imposed on it by the industry regulator Offer. The company said it wanted to avoid the uncertainty caused by a referral to the Monopolies Commission. It said implementing Offer's proposals would result in a 20% cut in revenues in the year to March 1998 & a tighter pricing regime in the next three years. The price cut will bring savings on the average UK domestic electricity bill of about £4 a year.
24th October 1996
Hydrocarbons
Wales Scotland & N.Ireland
| For 24 hrs to 6pm Thu 24 Oct | |||
| BENZENE | Today | DayAvg | YearAvg |
| Edinburgh Centre | Low | 1.04 | .71 |
| Belfast South | Low | .44 | .98 |
| Cardiff Centre | Low | 1.4 | 1.29 |
| 1 3-BUTADIENE | |||
| Edinburgh Centre - - .12 | |||
| Belfast South - - .17 | |||
| Cardiff Centre | Low | .20 | .23 |
| Benzene & 1 3-Butadiene can cause | |||
| cancer. A yearly average of 5 or 1 part | |||
| per billion(ppb) respectively presents | |||
| a very small risk to health. | |||
| Data from Department of Environment | |||
| NWEnglandNEEnglandC EnglandS England |
25th October 1996
Supermarket giant Sainsbury plans to
move into the banking sphere. Sainsbury's Bank ` as the newly-formed company will be called ` will be 55% owned by Sainsbury's & 45% per cent owned by the Bank of Scotland. If the Bank of England gives permission for the deal to go-ahead the company will be the first supermarket to enter consumer banking. It would open for business in 1997.
25th October 1996
SAINSBURY ANNOUNCES JOINT BANK VENTURE
Supermarket giant Sainsbury has announced plans to open a new bank in partnership with the Bank of Scotland. Sainsbury's Bank will start in 1997 subject to Bank of England & regulatory approval. It will be 55% owned by Sainsbury & 45% by the Bank of Scotland. If it gets clearance it will be the first supermarket to enter consumer banking offering deposit lending & cash management services to customers.
