UK: NORTH-SOUTH DIVIDE NARROWS

Article Abstract:

The way in which the Bank of England is seen to be handling the British economy by manufacturers, has had the effect of narrowing the North-South divide, according to a report by business information company, Dun & Bradstreet. Growing confidence in the bank's ability to handle monetary policy has resulted in businesses in the Midlands and other parts of the country reporting expectations of higher sales. Another report by Lloyds TSB reported a fall in the differential in profitability and growth between companies at opposite ends of the UK, with those in North Wales and the North reacting the most positively. The implications are that the success of companies is becoming increasingly based on the performance of individual businesses and sectors as opposed to where in the country they are situated.

Corporate Profits, Business Activity NEC, Bank of England, Profits

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UK: ABBEY TO IMPOSE CASH MACHINE CHARGES

Article Abstract:

The UK bank, Abbey National, is to go against the government and proceed with plans to introduce charges over GB[pound] 0.30 for use of its cash machines by non-customers. The new charge will come into effect from 1 January 2000 and will be introduced as the bank disposes of disloyalty charges for its customers using other cash machines. Abbey said that it had not yet decided on how much the charge would be.

Special Purpose Terminals, Computer Terminal Manufacturing, Electronic Banking Svcs, Automatic banking equipment industry, Abbey National PLC, Electronic banking

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UK: CONTRASTING VIEWS ON BANKS' STRATEGIES

Article Abstract:

Shares in Halifax, the UK's largest mortgage lender, have fallen slightly on the news that the bank is pressing ahead with plans to create Internet-only offers as part of its GB[pound] 1.5bn online expansion. Halifax is looking to have 250,000 Internet banking customers by the end of 2000. However, shares in Woolwich rose by GB[pound] 1.75 after it emerged that its integrated branch, telephone and Internet offering, Open Plan, would not launch initiatives aimed exclusively at Internet customers. Woolwich claims that their strategy will prove successful, as customers like to use different ways to access their money.

DEPOSITORY INSTITUTIONS, Woolwich, Halifax

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