• Supermarket forces: New Sainsbury chief executive, Sir Peter Davis, has moved swiftly to try to close the gap between Sainsbury and Tesco in e-commerce. A week after moving into the job he yesterday appointed two executives to reorganise the internet shopping division. Angela Megson was promoted from trading director to director of e-commerce, while Patrick McHugh has been drafted in from consultants EDS to develop internet strategy.

• Goal: Sports content provider Teamtalk.com was yesterday valued at £307m ahead of its demerger from telecoms marketing group IMS next month. Investors will receive five Teamtalk shares for each IMS share they hold and 41.4m shares are being placed at 145p to raise £60m for the web-based business.