PRESS DIGEST - BRITISH BUSINESS - DEC 27 =3

The Independent

BUY NOW, SELL LATER -- HOW BRITAIN SPENT BOXING DAY

Wednesday saw record numbers of shoppers take to the high streets as retailers offered unparalleled Boxing Day discounts. Fearful of a downturn in the economy in the New Year, major stores on the high street offered up to 70-percent price cuts. The director general of the British Retail Consortium, Kevin Hawkins, said retailers were working hard to recoup low Christmas profits, adding: "It's not inconsistent to have retailers whose profits are falling and whose sales are going up. That's one of the problems of discounting." Meanwhile, a YouGov poll revealed that one in five people who went online on Christmas Day made a purchase, making online sales reach 53 million pounds, the busiest Christmas Day ever.

INCREASING POPULARITY OF CAVA ADDS FIZZ TO FESTIVE SALES OF SPARKLING WINE

Partly driven by the TV adverts by the supermarket chain's chef Jamie Oliver, Sainsbury's (SBRY.L: Quote, Profile, Research, Stock Buzz) has reported a 200-percent surge this year in the sales of the Spanish sparkling wine Cava. Waitrose reported a 20-percent increase in 2007 for the drink that shares with champagne the fact that it is fermented twice. Cava now accounts for half of Sainsbury's sales from non-champagne sparkling wine. In 2006, the amount of Cava shipped to the UK registered a 6-percent increase.

PASSENGERS AT HEATHROW FACE ZERO TOLERANCE

As it attempts to improve its poor punctuality record, British Airways BAY.L has issued a tough new zero tolerance policy to be implemented at the carrier's brand new Terminal 5 at Heathrow Airport. Once the terminal is opened in three months' time, passengers will be expected to be in the queue for security checks at least 35 minutes before take off.