WHAT HAPPENED ON 31st January 1997?

30th January 1997

SEARS SHAREHOLDERS BACK FREEMANS

Sears shareholders have overwhelmingly approved the sale of mail order company Freemans to Littlewoods for £395m. Once the sale which is still subject to regulatory approval has gone through Sears plans to return around #410m to shareholders. Answering fears that institutions would benefit most chairman Sir Bob Reid told the EGM: "There will be equal treatment for all...shareholders." *Sears has reportedly denied bringing in headhunters to replace troubled chief executive Liam Strong.

31st January 1997

GRANADA TO CLOSE 20% OF RENTAL SHOPS

The entertainment group Granada is planning to close over 100 of its TV rental shops across the country. The firm says it is consulting union officials & about a fifth of its 562 stores are likely to shut. Granada's shops employ around 2 000 people of whom 1 500 are full time. The company says it wishes to concentrate on its more profitable retail outlets.

31st January 1997

TV TRIUMVIRATE LINK UP TO GO DIGI

Carlton Communications Granada & BSkyB have confirmed they are linking up to bid for the right to operate three digital terrestrial TV licences. They will each own one-third of a new company British Digital Broadcasting. They said BDB would bring together the leading forces in UK TV production & broadcasting including the BBC with the world's top satellite pay TV group. BSkyB's participation is the biggest surprise & offers the strongest indication yet that digital terrestrial is seen as a potential success.

30th January 1997

What People were saying on

"It has never been a rule of life that you can only legislate for others if you are a saint."

Tory MP John Redwood.

"Dating new women? I wouldn't even know how to get into all of that. Dating! What a strange concept."

Heart-throb actor Michael Douglas.

"Famous publicity! Before I had 15lbs more nobody knows. Now I am Miss Universe & everybody knows."

Alicia Machado 20 of Venezuela looking on the bright side despite losing sponsors after gaining weight.

31st January 1997

GRANADA TO CLOSE 20% OF RENTAL SHOPS

The entertainment group Granada is planning to close over 100 of its TV rental shops across the country. The firm says it is consulting union officials & about a fifth of its 562 stores are likely to shut. Granada's shops employ around 2 000 people of whom 1 500 are full time. The company says it wishes to concentrate on its more profitable retail outlets.

31st January 1997

MAJOR PLEDGES SHARE-OWNING WORKFORCE

John Major has set out his goal to make 50% of the employees of large companies shareholders in their firms by the turn of the century. The Prime Minister outlined his new initiative for greater share-ownership at a Conservative Party press briefing. Under new rules companies would be enabled to "top-up" shares bought by employees with free extra shares. Mr Major said his aim was "a people's share in an enterprise economy."

30th January 1997

EMU OPT-OUT MAY DRIVE TOYOTA ELSEWHERE

The president of Toyota has warned that his company will switch its European investment to the rest of the continent instead of the UK if it snubs the EMU. Hiroshi Okuda said the car company's European investment strategy would "change" depending on whether the UK joined the European Monetary Union. He said it was already reviewing its UK investment and he said rather than pull out it would just switch new investment to continental Europe. Nissan says it is committed to Britain. "We think it's the right place to be." Ford fights to revive fortunes >>>

31st January 1997

GRANADA TO CLOSE 20% OF RENTAL SHOPS

The entertainment group Granada is planning to close over 100 of its TV rental shops across the country. The firm says it is consulting union officials & about a fifth of its 562 stores are likely to shut. Granada's shops employ around 2 000 people of whom 1 500 are full time. The company says it wishes to concentrate on its more profitable retail outlets.

31st January 1997

1/11 DAMAGES The manufacturers of a sledge which overturned & injured actor Patrick Bergin during the shooting of Frankenstein ` The Real Story have been ordered to pay £279 942. FORD Union leaders say a strike ballot over job losses at the Halewood plant on Merseyside will be completed by March 13. COLLAPSEA woman student died after a wall fell on her in the botanical gardens of Leicester University. Some other students were slightly injured.