PRESS DIGEST - British business - =6

RETAILERS PLAN DISCOUNTS TO SAVE CHRISTMAS SALES FROM A DOWNTURN

The British Retail Consortium has predicted that like-for-like sales growth over the Christmas period could be as little as three percent, though food retailers should fare better with a rise of four percent.

Though some 12 billion pounds is expected to be earned in revenue over the Christmas period, retailers are warning that any sales growth will be driven by discounting as consumers start to feel the pinch from rising interest rates.

Retailers are also planning to once again make use of special online promotions such as vouchers.

FUND MANAGERS RAISE EXIT PENALTIES TO PREVENT COMMERCIAL.

Schroders (SDR.L: Quote, Profile, Research, Stock Buzz), one of the UK's leading managers of commercial property investments, has wiped 12.5 percent off the value of units in its flagship two billion pound fund, warning that investors in the fund, aimed at institutions such as pension funds and insurance companies, might have to wait longer to collect their money.

Schroders was the second manager in a week, after M&G, to take drastic actions to avoid being caught out by a deteriorating investment sentiment in the commercial property sector.

Prepared for Reuters by Durrants.