PRESS DIGEST - British business - Jan 9

The Times

ROCK BOARD FACES BROADER SHAREHOLDER CHALLENGE

AP2, Northern Rock's NRK.L sixth largest shareholder, is to lend its weight to a campaign, tabled by RAB Capital and SRM Global, that would see investors given greater input into the bank's future. RAB and SRM decided to act after failing to receive assurances from the Northern Rock board and chairman Bryan Sanderson that their voting rights would be protected. AP2 head of corporate governance, Carl Rosen, said: "We will support the proposals from the two largest shareholders. We think it's good for shareholders - that's why we think it is important to vote."

DOMINO EFFECT: SLOB BRITAIN PILES ON POUNDS

Domino's Pizza on Tuesday reported 17.6 percent better like-for-like sales for the six weeks to December 30, chief executive Chris Moore saying that the group was benefiting from a new menu and realising its 30-minute delivery deadline. The news went down poorly with Colin Waine of the National Obesity Forum, who commented: "It seems we are developing some unhealthy habits. The younger age group keep saying they are concerned about obesity. Unfortunately, they just don't seem concerned enough to alter their behaviour."

GLOOM SPREADS TO EASYJET AS CLOUDS ROLL IN FOR HOLIDAYMAKERS

EasyJet (EZJ.L) shares lost nearly 14 percent on Tuesday, falling by 74.5 pence to 460 pence after announcing 9.9 percent increased passenger numbers for December. The group announced in November that it was targeting 20 percent improved profits this year, though its numbers have raised questions about its ability to fulfil its goal. Collins Stewart analyst Andrew Fitchie said that while cheaper air travel made it more affordable for people to take two to three holidays a year, "People view that as a non-discretionary item and will still take that holiday, though they may trade down."

The Daily Telegraph

M&S AIMS TO TEMPT FOODIES AS PROFITS FALL

Marks & Spencer (MKS.L) is to focus its attentions on the so-called "foodie" market in a bid to reverse its fortunes, as the City readies itself for what is anticipated to be a dismal trading update from the retailer. The firm's food division is believed to have seen sales growth stall, or even reverse, in the Christmas trading period. Director of foods, Steven Esom, said of the group's plans: "From now on customers looking to cook from scratch and wanting to buy all their ingredients under one roof will increasingly find everything they need at M&S."

WADSWORTH QUITS AILING EMI