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A gang of thieves steal £26.5 million worth of currency from the Donegall Square West headquarters of Northern Bank in Belfast, Northern Ireland, United Kingdom, one of the largest bank robberies in British history.
In the worst peacetime sea disaster, the passenger ferry Doña Paz sinks after colliding with the oil tanker MT Vector in the Tablas Strait of the Philippines, killing an estimated 4,000 people (1,749 official).
The initial production version of the Boeing 707 makes its first flight.
It's a Wonderful Life premieres at the Globe Theatre in New York to mixed reviews.
Born: Kim Weston, American soul singer.
Cheka, the first Soviet secret police force, is founded.
Byzantine Emperor Romanos I Lekapenos is arrested by two of his sons, forced to abdicate and to live as a monk for the rest of his life.
Died: Alfonso III, king of Asturias.