• Start line Video-on-demand company Video Networks yesterday announced the UK's first high-speed always-on internet service to use conventional phone lines. The firm, which operates only in north-west London, said it was the first commercial service to use ADSL (asymmetric digital subscriber line) technology.

• Shop shape Comparison shopping portal Shopsmart.com moved a step closer to flotation yesterday by appointing a new chief financial officer. Nicholas Lovell has been recruited from Deutsche Bank where he worked as an analyst. He has been involved in six IPOs in the past six months.

• Shelf life Supermarket group Sainsbury will route three-quarters of its purchasing spend through new web-based procurement system GlobalNetXchange , which the company bought a $15m stake in yesterday, Patrick McHugh, the supermarket chain's new director of e-commerce, said.