Retailers take a hit as Christmas shoppers buy at discount prices

• RETAILERS hit by Christmas on the cheap. One in five shoppers buy at discount prices as high street faces worst festive season for 25 years.

• John de Mol, the billionaire creator of TV show Big Brother, has bought a 3 per cent stake in Scottish telecoms group Thus in what is thought to be his first investment in the British telecoms sector.

• Scottish Enterprise is reviewing the future of a scheme set up to speed the growth of early-stage companies with world-beating technology. Funding for the agency's high-growth start-up unit, which was set up by former chief executive Robert Crawford in 2002, is due to run out in March. Ian Ritchie, the entrepreneur and business angel, has been recruited to put a value on the group's portfolio of companies which will feed into SE's review.

SUNDAY TIMES

• VEDANTA Resources has decided to go ahead with plans to raise 768,000 by issuing shares in America during the first quarter of next year.

• The Reuben brothers have secretly amassed a 14 per cent stake in Arena Leisure, triggering speculation that they could be mulling a bid approach.

• ABN Amro is in talks to take a majority stake in TGI Friday's after teaming up with Carlson Wagonlit of the US to buy the chain from Whitbread for 70 million.

• Sports World owner Mike Ashley on course to clock up profits of about 110 million this year, underpinning a valuation of up to 2.5 billion for his business, according to his allies.

• Kwik Save is asking its former parent Somerfield to write off 20 million of debts to clear the way for a fresh round of fundraising.

• Reevoo.com, a new venture from the team that built up Active Hotels, the online booking service that was sold for 82.4 million two years ago, has raised 2.5 million from investors.

• Lend Lease has clinched a lucrative contract to partner Australia's Westfield to build the Olympic Village for the 2012 London games, beating off competition from Barratt and Bouygues.

• Boat International has been sold in a 29m management buy-out.

• Former deputy chairman of Marks & Spencer Keith Oats is appointed chairman of Phaunos Timber Fund, which is expected to float on AIM this week.

SUNDAY TELEGRAPH

• SPIRENT board is confident as it fends off a coup.

• ACP Capital Trust plans to join the main London market by the end of next year.

• Numis has raised 100 million for Clean Energy Brazil, which will begin trading today.

• TRM, the US cash machine operator, is believed to be considering a sale of its British division.

• GAP of the US is assembling a team to spearhead the introduction of its chain of Banana Republic clothes in stores in the UK.

• GLG Partners, the hedge fund group, is considering a 500m public listing.

• Tesco has been forced to abandon plans to build a superstore in Torrington, Devon.

• Prospective bidders for the east coast line want a 400m price cut.

THE OBSERVER

• SCHRODERS is laying the foundations of its worldwide property business.

• Temasek, 12 per cent stakeholder, is eyeing a role on Standard Chartered's board.

SCOTTISH MAIL ON SUNDAY

• PLAYBOY Enterprises is to open a store in London to tap into a growing market for its merchandise.

• Sports World reports a sales surge ahead of its flotation.

• Sigma Kalon of France is expected to be put up for sale next year in a 1.3bn deal.

• Equitable Life is working on plans to offload its troublesome with-profits annuities book.

• Trinity Mirror's Racing Post has already attracted interest from wealthy individuals thought to include Dermot Desmond and John Magnier.

• First Choice Holidays has become the latest frontrunner to buy online travel company Laterooms.com.

• London Stock Exchange will this week deliver its official defence against Nasdaq's hostile bid.

• Walcom Group is to join AIM next week valued at 22 million.

• Institutional investors call for Quantica to enter merger talks with Northern Recruitment.

• Williams de Broe is expected to receive a fine close to 750,000 from the City regulator this week over financial irregularities.

THE INDEPENDENT

• TISCALI of Italy has put its UK division up for sale for 600 million.

• Cable & Wireless facing a major lawsuit in the Caribbean from Cariaccess, a start-up company that has been trying to offer broadband services in the region for five years.

• ALEXON to sell Dolcis offshoot for under 5m.

• Those hoping that the 450m takeover of Liverpool FC will be done and dusted by the end of this year look set to be disappointed.