19/05/2016 World Business Report

We will keep you up-to-date with the EgyptAir plan story.

Now for the latest financial news with

Trouble in store - profits set to fall again at Walmart as

Plus, more Google in your life - the tech giant unveils a raft

of new products including a personal assistant.

Also in the programme Alibaba is said to be considering becoming

But first, we start in the US with a giant of the retail business that

has ruled the roost for decades - but is now battling to stay on top.

Walmartis still the world's biggest company by revenues -

it sells almost half a trillion dollars worth of goods a year.

But in a few hours time it's expected to

reveal a sharp fall in profits for the first three months of the year.

Analysts predict Walmart's first quarter profits could be down

as much as 15% - compared with last year.

It has been forced to raise wages after a huge public backlash

about low pay - that's costing it a billion and

and here's the big problem - the internet.

It is having to invest heavily to compete in online shopping

so to help its bottom line Walmart is busy closing down more

And as you would expect this has taken its toll with investors.

Walmart's shares are down some 28% since their peak

in January 2015 - compare it to online retail giant Amazon.

It's shares are up over 125% since January 2015 -

making it worth some $329 billion - almost two thirds more than

Walmart and the world's biggest retailer by stock market value.

Samira Hussain reports from New York on the changing face

Shopping - the great American pastime and the driving force behind

the country 's economy but physical stores are taking ahead. Macy's is

closing 36 locations. More stores are in trouble. This is New York's

famous fifth Ave. Shoppers from around the world come to some of the

luxury retailers here but even this is not immune to retail trends.

Stores here say shoppers are not spending like they used to. But the

single biggest change is how people shop. How do you decide between

shopping online? Online shopping is convenient. I can stay at home. I do

not have to deal with people. Are usually shop online because it is so

convenient. -- I. It is online shopping at night. Retailers are

more recently feeling the pressure so what has changed? The mobile

device was of the game changer. It really changed how consumers

behaved. It put the power of the desktop into the hands of consumers

say they could address any need at any point in time. Walmart is trying

to adapt by making its delivery service faster and closing some

stores to be more nimble. Necessary changes for America's biggest

retailer. When we get the results later today, we will update you.

We are also talking about Google - it's been hosting thousands

of software developers at a huge stadium near its headquarters

The developers conference is all about laying out the future

The highlight was a personal assistant device called

Google Home that lets you control your home using voice commands -

Google says it's part of a plan to make interaction with

Our technology correspondent Dave Lee was there and sent this report.

They like to start them young at Google. Before the event kicked off,

the company invited local children and try their hands at developing

with robots. This is that does not like to sit still and this is its

chance to show off its latest ideas in the hope developers will be

motivated to work with Google products. We are pushing ourselves

are really hard so that Google is evolving and staying step ahead. Any

device uses machine learning to predict what you are able to say.

You can also use natural speech to carry out research questions and

book restaurant. Google home, is the direct competitor to the Echo

competition from Amazon. This headset is due out later this year.

Google has unveiled an impressive list of new products but the biggest

problem is other companies have got there first. And some for example.

-- and is on. The question is, can Google do all those things but

better? Particularly in the home, messaging, and both areas represent

substantial threats to their business so it is critical they come

back stop Google has been active for the 70 years. It has been an

evolution. Beyond today's evolution is the company work in machine

learning and artificial intelligence that may bring about revolution.

Consider what the best climate change research us can do with the

power of machine learning. It is this kind of arms and that showed

the potential to change the world. Again, Google leader.

To Asia now - and reports that Chinese e-commerce

giant Alibaba could be about to sign a major sponsorship deal with

That is the word in the markets but there is no confirmation of the

sponsorship at the moment from Alibaba but if it does materialise,

it will expand China's name in world football. Its largest company

announcing the 50 year sponsorship deal with Fifa. Its affiliate,

already having an 80 year sponsorship for the World Cup. --

ate year. The struggle to find new sponsors since the current crisis,

top gear partners like Sony and Emirates airlines since the deal

expired at the end of 2013. Features corruption scandal was an

opportunity for the Chinese conglomerates to further the

countries footballing ambitions by undertaking these sponsorship deals.

If Alibaba sponsors, they may just pave the way for China to host the

World Cup sooner rather than later. Looking at financial markets, really

quickly. Markets spooked by Janet Yellen meeting which imply they are

poised to raise rates again. The death are on that rates could be

going up in June again. I will see you soon.