Bank of England £1 note
The Bank of England £1 note was a banknote of the pound sterling. After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by the Bank of England; the one pound note was issued by the Bank of England for the first time in 1797 and continued to be printed until 1984. The note was withdrawn in 1988 in favour of the one pound coin. One pound notes were introduced by the Bank of England for the first time in 1797, following gold shortages caused by the French Revolutionary Wars; the earliest notes were handwritten, were issued as needed to individuals. These notes were written on one side only and bore the name of the payee, the date, the signature of the issuing cashier. Between 1797 and 1821 the lack of bullion meant that banks would not exchange banknotes for gold, but after the end of the Napoleonic Wars the shortage was alleviated such that notes could be exchanged for an equivalent amount of gold when presented at the bank. One pound notes were replaced by gold sovereigns.
During the First World War the British Government wanted to maintain its stocks of gold and so banks were ordered to again stop exchanging any and all denominations of banknotes for gold. Gold sovereigns were replaced by one pound notes issued by the Treasury; these notes were nicknamed "Bradburys" because of the prominent signature of Sir John Bradbury, Permanent Secretary to the Treasury displayed on the notes. Britain returned to the gold standard in 1925, although the Bank of England was only obliged to exchange notes for gold in multiples of 400 troy ounces or more; the responsibility for the printing of one pound notes was transferred to the Bank of England in 1928, the ability to redeem banknotes for gold ceased in 1931 when Britain stopped using the gold standard. The Bank of England's first post-World War I one pound notes were two-sided green notes which were printed – not handwritten; the name of the payee was replaced by the declaration "I promise to pay the bearer on demand the sum of one pound".
This declaration remains on Bank of England banknotes to this day. This signature of the issuing cashier was replaced by the printed signature of the Chief Cashier of the Bank of England. In 1940, following the outbreak of the Second World War, one pound notes were issued in a new blue-orange colour scheme to deter counterfeiters, although the design remained the same. At the same time, metal thread running the paper was introduced as a security feature. After the war one pound notes were issued in their original green colour; the earliest post-World War II notes did not have the metallic thread security feature, but those issued from September 1948 onward did. A new design for one pound notes was introduced in 1960, with the old notes ceasing to be legal tender in 1962; these new series C notes were narrower, were the first one-pound notes to feature a portrait of Queen Elizabeth II on the front. The reverse design incorporated the logo of the Bank of England. Series C notes were replaced by the series D notes from 1978 onward.
These smaller notes featured an new design with Queen Elizabeth II on the front and scientist Isaac Newton on the back. The note was redesigned in 1981 to feature brighter background colours. Following a consultation with retailers and other groups it was announced on 31 July 1981 that the one pound note would be replaced by a one pound coin. Part of the reason for this change was that notes, on average, lasted only nine months in general circulation, while coins could last forty years or more; the government believed that the growing vending industry would benefit from the introduction of a one-pound coin. The new cupro-nickel coin was introduced on 21 April 1983 and the one pound note ceased to be legal tender on 11 March 1988. Bank of England £1 notes are still found in circulation in Scotland, alongside Royal Bank of Scotland £1 notes; this is because Scotland has no concept of Legal Tender, any Sterling bank note, of any age, may be used provided the trader is content to accept it. The Bank of England will exchange old £1 notes for their face value in perpetuity.
Information taken from Bank of England website. Bank of England note issues Bank of England website
James Watt was a Scottish inventor, mechanical engineer, chemist who improved on Thomas Newcomen's 1712 Newcomen steam engine with his Watt steam engine in 1776, fundamental to the changes brought by the Industrial Revolution in both his native Great Britain and the rest of the world. While working as an instrument maker at the University of Glasgow, Watt became interested in the technology of steam engines, he realised that contemporary engine designs wasted a great deal of energy by cooling and reheating the cylinder. Watt introduced a design enhancement, the separate condenser, which avoided this waste of energy and radically improved the power and cost-effectiveness of steam engines, he adapted his engine to produce rotary motion broadening its use beyond pumping water. Watt attempted to commercialise his invention, but experienced great financial difficulties until he entered a partnership with Matthew Boulton in 1775; the new firm of Boulton and Watt was highly successful and Watt became a wealthy man.
In his retirement, Watt continued to develop new inventions though none was as significant as his steam engine work. He developed the concept of horsepower, the SI unit of power, the watt, was named after him. James Watt was born on 19 January 1736 in a seaport on the Firth of Clyde, his father James Watt, was a shipwright, ship owner and contractor, served as the town's chief baillie, whilst his mother, Agnes Muirhead, came from a distinguished family and was well educated. Both were strong Covenanters. Watt's grandfather, Thomas Watt, was a mathematics teacher and baillie to the Baron of Cartsburn. Despite being raised by religious parents, he became a deist. Watt did not attend school regularly, he exhibited great manual dexterity, engineering skills and an aptitude for mathematics, while Latin and Greek failed to interest him. He is said to have suffered prolonged bouts of ill-health as a child; when he was eighteen, his mother died and his father's health began to fail. Watt travelled to London and was apprenticed as an instrument maker for a year returned to Scotland, settling in the major commercial city of Glasgow intent on setting up his own instrument-making business.
He made and repaired brass reflecting quadrants, parallel rulers, parts for telescopes, barometers, among other things. Because he had not served at least seven years as an apprentice, the Glasgow Guild of Hammermen blocked his application, despite there being no other mathematical instrument makers in Scotland. Watt was saved from this impasse by the arrival from Jamaica of astronomical instruments bequeathed by Alexander Macfarlane to the University of Glasgow, instruments that required expert attention. Watt was remunerated; these instruments were installed in the Macfarlane Observatory. Subsequently three professors offered him the opportunity to set up a small workshop within the university, it was initiated in 1757 and two of the professors, the physicist and chemist Joseph Black as well as the famed Adam Smith, became Watt's friends. At first he worked on maintaining and repairing scientific instruments used in the university, helping with demonstrations, expanding the production of quadrants.
In 1759 he formed a partnership with John Craig, an architect and businessman, to manufacture and sell a line of products including musical instruments and toys. This partnership lasted for the next six years, employed up to sixteen workers. Craig died in 1765. One employee, Alex Gardner took over the business, which lasted into the twentieth century. In 1764, Watt married his cousin Margaret Miller, with whom he had five children, two of whom lived to adulthood: James Jr. and Margaret. His wife died in childbirth in 1772. In 1777 he was married again, to Ann MacGregor, daughter of a Glasgow dye-maker, with whom he had two children: Gregory, who became a geologist and mineralogist, Janet. Ann died in 1832. Between 1777 and 1790 he lived in Birmingham. There is a popular story that Watt was inspired to invent the steam engine by seeing a kettle boiling, the steam forcing the lid to rise and thus showing Watt the power of steam; this story is told in many forms. James Watt of course did not invent the steam engine, as the story implies, but improved the efficiency of the existing Newcomen engine by adding a separate condenser.
This is difficult to explain to someone not familiar with concepts of heat and thermal efficiency. It appears that the story of Watt and the kettle was created by Watt's son James Watt Jr. and persists because it is easy for children to understand and remember. In this light it can be seen as akin to the story of Isaac Newton, the falling apple and his discovery of gravity. Although it is dismissed as a myth, like most good stories the story of James Watt and the kettle has a basis in fact. In trying to understand the thermodynamics of heat and steam James Watt carried out many laboratory experiments and his diaries record that in conducting these he used a kettle as a boiler to generate steam. In 1759 Watt's friend, John Robison, called his attention to the use of steam as a source of motive power; the design of the Newcomen engine, in use for 50 years for pumping water from mines, had hardly changed from its first implementation. Wat
Banknotes of the pound sterling
Sterling banknotes are the banknotes in circulation in the United Kingdom and its related territories, denominated in pounds sterling. Sterling banknotes are official currency in the United Kingdom, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, Tristan da Cunha in St Helena and Tristan da Cunha. One pound is equivalent to 100 pence. Three British Overseas Territories have currencies called pounds which are at par with the pound sterling. In most countries of the world the issue of banknotes is handled by a single central bank or government, but in the United Kingdom seven retail banks have the right to print their own banknotes in addition to the Bank of England; the arrangements in the UK are unusual, but comparable systems are used in Hong Kong and Macao, where three and two banks issue their own banknotes in addition to their respective governments. The Bank of England does act as a central bank in that it has a monopoly on issuing banknotes in England and Wales, regulates the issues of banks in Scotland and Northern Ireland.
Versions of the pound sterling issued by Crown Dependencies and other areas are regulated only by local governments and not the Bank of England. Until the middle of the 19th century owned banks in Great Britain and Ireland were free to issue their own banknotes. Paper currency issued by a wide range of provincial and town banking companies in England, Wales and Ireland circulated as a means of payment; as gold shortages affected the supply of money, note-issuing powers of the banks were restricted by various Acts of Parliament, until the Bank Charter Act 1844 gave exclusive note-issuing powers to the central Bank of England. Under the Act, no new banks could start issuing notes; the last private English banknotes were issued in 1921 by Fox and Company, a Somerset bank. However, some of the monopoly provisions of the Bank Charter Act only applied to Wales; the Bank Notes Act was passed the following year, to this day, three retail banks retain the right to issue their own sterling banknotes in Scotland, four in Northern Ireland.
Notes issued in excess of the value of notes outstanding in 1844 must be backed up by an equivalent value of Bank of England notes. Following the partition of Ireland, the Irish Free State created an Irish pound in 1928; the issue of banknotes for the Irish pound fell under the authority of the Currency Commission of the Republic of Ireland, which set about replacing the private banknotes with a single Consolidated Banknote Issue in 1928. In 1928 a Westminster Act of Parliament reduced the fiduciary limit for Irish banknotes circulating in Northern Ireland to take account of the reduced size of the territory concerned. Elizabeth II was not the first British monarch to have her face on UK banknotes. George II, George III and George IV appeared on early Royal Bank of Scotland notes and George V appeared on 10 shilling and 1 pound notes issued by the British Treasury between 1914 and 1928. However, prior to the issue of its Series C banknotes in 1960, Bank of England banknotes did not depict the monarch.
Today, notes issued by Northern Irish banks do not depict the monarch. The monarch is depicted on banknotes issued by the Crown dependencies and on some of those issued by overseas territories; the following events and Acts of Parliament affected the course of banknote history in Great Britain and Ireland: The wide variety of sterling notes in circulation means that acceptance of different pound sterling banknotes varies. Their acceptance may depend on the experience and understanding of individual retailers, it is important to understand the idea of "legal tender", misunderstood; the assumption that all sterling notes are legitimate and of equal value, are accepted by merchants anywhere, has become a tourism headache in some parts of the UK. In summary, the various banknotes are used as follows: Bank of England banknotes Most sterling notes are issued by the Bank of England; these are legal tender in England and Wales, are always accepted by traders throughout the UK. Bank of England notes are accepted in the Overseas Territories which are at parity with sterling.
In Gibraltar, there are examples of pairs of automatic cash dispensers placed together, one stocked with Bank of England notes, the other with local ones. Scottish banknotes These are the recognised currency in Scotland, although they are not legal tender, they are always accepted by traders in Scotland, are accepted in other parts of the United Kingdom. However, some outside Scotland are unfamiliar with the notes and they are sometimes refused. Institutions such as clearing banks, building societies and the Post Office will accept Scottish bank notes. Branches of the Scottish note-issuing banks situated in England dispense Bank of England notes and are not permitted to dispense their own notes from those branches. Modern Scottish banknotes are denominated in pounds sterling, have the same value as Bank of England notes. Northern Irish banknotes Banknotes issued by Northern Irish banks have the same legal status as Scottish banknotes in that they are promissory notes issued in pounds sterling and may be used for cash transactions anywhere in the United Kingdom.
The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.
Sir John Houblon was the first Governor of the Bank of England from 1694 to 1697. John Houblon was the third son of James Houblon, a London merchant, his wife, Mary Du Quesne, daughter of Jean Du Quesne, the younger, he had three sisters. The Houblon family were Hugeunots from Lille and he became an elder in the Huguenot Church in Threadneedle Street, he married Mary Jurin in 1660, who came from a Flemish Protestant family and they had five sons and six daughters, but only two sons survived their father. They lived in a magnificent house just off Threadneedle Street on the site occupied by the Bank of England and he acquired a country house at High Ongar in Essex, he became Sheriff of the City of London in 1689, an Alderman from 1689 to 1712, Master of the Grocer's Company from 1690 to 1691. He was Lord Mayor in 1695, he was a Lord Commissioner of the Admiralty from 1694 to 1699. It was during this time, from 1694 until 1697, that he served as inaugural governor of the Bank of England, he was again a Bank of England director from 1700, a director of the New East India Company from 1700 to 1701.
He was defeated. Some sources state incorrectly, his younger brother, Abraham Houblon, was Bank of England Governor, from 1703 to 1705. A daughter of Abraham Houblon, was married to Henry Temple Viscount Palmerston, in 1703, his older brother, James, an influential merchant and Member of Parliament for the City of London, was a director of the Bank of England. Four other of his brothers were prosperous merchants. Houblon has been commemorated by his appearance on the reverse of Series E £50 notes issued by the Bank of England; the notes were issued in 1994, the year of the Bank's 300th anniversary. The design includes an image of Houblon's house in Threadneedle Street, the site of the present Bank of England building. A new £50 note was brought into circulation in 2011, featuring James Watt and Matthew Boulton in place of Sir John Houblon; the Houblon note ceased to be legal tender on 30 April 2014. Archer Houblon, Alice The Houblon Family - Its Story and Times, London: Constable, Volumes 1 & 2 Sir John Houblon 1632-1712 at the Bank of England website The Rulers of London 1660-1689, J.
R. Woodhead, on British History Online The Friends of Charles Darwin
Bank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the fifth-oldest surviving bank in the United Kingdom, is the only commercial institution created by the Parliament of Scotland to remain in existence, it was one of the first banks in Europe to print its own banknotes, it continues to print its own sterling banknotes under legal arrangements that allow Scottish banks to issue currency. In June 2006, the HBOS Group Reorganisation Act 2006 was passed by the Parliament of the United Kingdom, allowing the bank's structure to be simplified; as a result, The Governor and Company of the Bank of Scotland became Bank of Scotland plc on 17 September 2007. Bank of Scotland has been a subsidiary of Lloyds Banking Group since 19 January 2009, when HBOS was acquired by Lloyds TSB; the Governor and Company of the Bank of Scotland was established by an Act of the Parliament of Scotland on 17 July 1695, the Act for erecting a Bank in Scotland, opening for business in February 1696.
Although established soon after the Bank of England, the Bank of Scotland was a different institution. Where the Bank of England was established to finance defence spending by the English government, the Bank of Scotland was established by the Scottish government to support Scottish business, was prohibited from lending to the government without parliamentary approval; the founding Act granted the bank a monopoly on public banking in Scotland for 21 years, permitted the bank's directors to raise a nominal capital of £1,200,000 pound Scots, gave the proprietors limited liability, in the final clause made all foreign-born proprietors naturalised Scotsmen "to all Intents and Purposes whatsoever". John Holland, an Englishman, was one of the bank's founders, its first chief accountant was George Watson. The Bank of Scotland was suspected of Jacobite sympathies, its first rival, The Royal Bank of Scotland was formed by royal charter in 1727. This led to a period of great competition between the two banks as they tried to drive each other out of business.
Although the "Bank Wars" ended in around 1751, competition soon arose from other sources, as other Scottish banks were founded throughout the country. In response, the Bank of Scotland itself began to open branches throughout Scotland; the first branch in London opened in 1865. The bank took the lead in establishing the security and stability of the entire Scottish banking system, which became more important after the collapse of the Ayr Bank in 1772, in the crisis following the collapse of the London house of Neal, James and Down; the Western Bank collapsed in 1857, the Bank of Scotland stepped in with the other Scottish banks to ensure that all the Western Bank's notes were paid. See Credit crisis of 1772. In the 1950s, the Bank of Scotland was involved in several mergers and acquisitions with different banks. In 1955, the Bank merged with the Union Bank of Scotland; the Bank expanded into consumer credit with the purchase of Chester based, North West Securities. In 1971, the Bank agreed to merge with the British Linen Bank, owned by Barclays Bank.
The merger saw Barclays Bank acquire a 35% stake in the Bank of Scotland, a stake it retained until the 1990s. The merchant banking division of the Bank of Scotland was relaunched as British Linen Bank. In 1959 Bank of Scotland became the first bank in the UK to install a computer to process accounts centrally. At 11 am on 25 January 1985 the Bank introduced HOBS, an early application of remote access technology being made available to banking customers; this followed a small-scale service operated jointly with the Nottingham Building Society for two years but developed by Bank of Scotland. The new HOBS service enabled customers to access their accounts directly on a television screen, using the Prestel telephone network; the arrival of North Sea oil to Scotland in the 1970s allowed the Bank of Scotland to expand into the energy sector. The Bank used this expertise in energy finance to expand internationally; the first international office opened in Houston, followed by more in the United States and Singapore.
In 1987, the Bank acquired Countrywide Bank of New Zealand. The Bank expanded into the Australian market by acquiring the Perth-based Bank of Western Australia. A controversial period in the Bank's history was the attempt in 1999 to enter the United States retail banking market via a joint venture with evangelist Pat Robertson; the move was met with criticism from civil rights groups in the UK, owing to Robertson's controversial views on homosexuality. The Bank was forced to cancel the deal when Robertson described Scotland as a "dark land overrun by homosexuals". In the late 1990s, the UK financial sector market underwent a period of consolidation on a large scale. Many of the large building societies were demutualising and becoming banks in their own right or merging with existing banks. For instance Lloyds Bank and TSB Bank merged in 1995 to create Lloyds TSB. In 1999, the Bank of Scotland made a takeover bid for National Westminster Bank. Since the Bank of Scotland was smaller than the English-based NatWest, the move was seen as an audacious and risky move.
However, The Royal Bank of Scotland tabled a rival offer, a bitter takeover battle ensued, with the Royal Bank the victor. The Bank of Scotland was now the centre of other merger opportunities. A proposal to merge with the Abbey National was explored, but rejected. In 2
BBC News is an operational business division of the British Broadcasting Corporation responsible for the gathering and broadcasting of news and current affairs. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online news coverage; the service maintains 50 foreign news bureaus with more than 250 correspondents around the world. Fran Unsworth has been Director of News and Current Affairs since January 2018; the department's annual budget is in excess of £350 million. BBC News' domestic and online news divisions are housed within the largest live newsroom in Europe, in Broadcasting House in central London. Parliamentary coverage is broadcast from studios in Millbank in London. Through the BBC English Regions, the BBC has regional centres across England, as well as national news centres in Northern Ireland and Wales. All nations and English regions produce their own local news programmes and other current affairs and sport programmes.
The BBC is a quasi-autonomous corporation authorised by Royal Charter, making it operationally independent of the government, who have no power to appoint or dismiss its director-general, required to report impartially. As with all major media outlets it has been accused of political bias from across the political spectrum, both within the UK and abroad; the British Broadcasting Company broadcast its first radio bulletin from radio station.2LO In 14 November 1922. Wishing to avoid competition, newspaper publishers persuaded the government to ban the BBC from broadcasting news before 7:00 pm, to force it to use wire service copy instead of reporting on its own. On Easter weekend in 1930, this reliance on newspaper wire services left the radio news service with no information to report after saying There is no news today. Piano music was played instead; the BBC gained the right to edit the copy and, in 1934, created its own news operation. However, it could not broadcast news before 6 PM until World War II.
Gaumont British and Movietone cinema newsreels had been broadcast on the TV service since 1936, with the BBC producing its own equivalent Television Newsreel programme from January 1948. A weekly Children's Newsreel was inaugurated on 23 April 1950, to around 350,000 receivers; the network began simulcasting its radio news on television in 1946, with a still picture of Big Ben. Televised bulletins began on 5 July 1954, broadcast from leased studios within Alexandra Palace in London; the public's interest in television and live events was stimulated by Elizabeth II's coronation in 1953. It is estimated that up to 27 million people viewed the programme in the UK, overtaking radio's audience of 12 million for the first time; those live pictures were fed from 21 cameras in central London to Alexandra Palace for transmission, on to other UK transmitters opened in time for the event. That year, there were around two million TV Licences held in the UK, rising to over three million the following year, four and a half million by 1955.
Television news, although physically separate from its radio counterpart, was still under radio news' control – correspondents provided reports for both outlets–and that first bulletin, shown on 5 July 1954 on the BBC television service and presented by Richard Baker, involved his providing narration off-screen while stills were shown. This was followed by the customary Television Newsreel with a recorded commentary by John Snagge, it was revealed that this had been due to producers fearing a newsreader with visible facial movements would distract the viewer from the story. On-screen newsreaders were introduced a year in 1955 – Kenneth Kendall, Robert Dougall, Richard Baker–three weeks before ITN's launch on 21 September 1955. Mainstream television production had started to move out of Alexandra Palace in 1950 to larger premises – at Lime Grove Studios in Shepherd's Bush, west London – taking Current Affairs with it, it was from here that the first Panorama, a new documentary programme, was transmitted on 11 November 1953, with Richard Dimbleby becoming anchor in 1955.
On 18 February 1957, the topical early-evening programme Tonight, hosted by Cliff Michelmore and designed to fill the airtime provided by the abolition of the Toddlers' Truce, was broadcast from Marconi's Viking Studio in St Mary Abbott's Place, Kensington – with the programme moving into a Lime Grove studio in 1960, where it maintained its production office. On 28 October 1957, the Today programme, a morning radio programme, was launched in central London on the Home Service. In 1958, Hugh Carleton Greene became head of Current Affairs, he set up a BBC study group whose findings, published in 1959, were critical of what the television news operation had become under his predecessor, Tahu Hole. The report proposed that the head of television news should take control, that the television service should have a proper newsroom of its own, with an editor-of-the-day. On 1 January 1960, Greene became Director-General and brought about big changes at BBC Television and BBC Television News. BBC Television News had been created in 1955, in response to the founding of ITN.
The changes made by Greene were aimed at making BBC reporting more similar to ITN, rated by study groups held by Greene. A newsroom was created at Alexandra Palace, television reporters were recruited and given the opportunity to write and voice their own scripts–without the "impossible burden" of having to cover stories for radio too. In 1987 thirty years John B