"Cyber Monday" to rake in $700 million

Following on from "Black Friday" in the States, when real world retailers cut prices and offer deals in order to kick start the Christmas shopping period, today is "Cyber Monday".

This high-tech moniker, coined in 2005, refers to the online American shops instead that post massive discounts and deals.

Research group comScore has predicted that this year's Cyber Monday will garner $700 million in online spending, which would make it heaviest online spending day on record.

This would mean a 17% increase in online spending so far this year's "holiday" shopping season.

One reports warns that almost half of all American office workers are expected to surf and shop online today.