:00:00. > :00:08.We will keep you up-to-date with the EgyptAir plan story.
:00:09. > :00:10.Now for the latest financial news with
:00:11. > :00:19.Trouble in store - profits set to fall again at Walmart as
:00:20. > :00:28.Plus, more Google in your life - the tech giant unveils a raft
:00:29. > :00:30.of new products including a personal assistant.
:00:31. > :00:44.Also in the programme Alibaba is said to be considering becoming
:00:45. > :00:56.But first, we start in the US with a giant of the retail business that
:00:57. > :01:00.has ruled the roost for decades - but is now battling to stay on top.
:01:01. > :01:03.Walmartis still the world's biggest company by revenues -
:01:04. > :01:09.it sells almost half a trillion dollars worth of goods a year.
:01:10. > :01:11.But in a few hours time it's expected to
:01:12. > :01:19.reveal a sharp fall in profits for the first three months of the year.
:01:20. > :01:22.Analysts predict Walmart's first quarter profits could be down
:01:23. > :01:24.as much as 15% - compared with last year.
:01:25. > :01:27.It has been forced to raise wages after a huge public backlash
:01:28. > :01:32.about low pay - that's costing it a billion and
:01:33. > :01:36.and here's the big problem - the internet.
:01:37. > :01:42.It is having to invest heavily to compete in online shopping
:01:43. > :01:45.so to help its bottom line Walmart is busy closing down more
:01:46. > :01:51.And as you would expect this has taken its toll with investors.
:01:52. > :01:56.Walmart's shares are down some 28% since their peak
:01:57. > :01:59.in January 2015 - compare it to online retail giant Amazon.
:02:00. > :02:03.It's shares are up over 125% since January 2015 -
:02:04. > :02:07.making it worth some $329 billion - almost two thirds more than
:02:08. > :02:18.Walmart and the world's biggest retailer by stock market value.
:02:19. > :02:20.Samira Hussain reports from New York on the changing face
:02:21. > :02:36.Shopping - the great American pastime and the driving force behind
:02:37. > :02:43.the country 's economy but physical stores are taking ahead. Macy's is
:02:44. > :02:49.closing 36 locations. More stores are in trouble. This is New York's
:02:50. > :02:57.famous fifth Ave. Shoppers from around the world come to some of the
:02:58. > :03:01.luxury retailers here but even this is not immune to retail trends.
:03:02. > :03:05.Stores here say shoppers are not spending like they used to. But the
:03:06. > :03:13.single biggest change is how people shop. How do you decide between
:03:14. > :03:20.shopping online? Online shopping is convenient. I can stay at home. I do
:03:21. > :03:29.not have to deal with people. Are usually shop online because it is so
:03:30. > :03:35.convenient. -- I. It is online shopping at night. Retailers are
:03:36. > :03:44.more recently feeling the pressure so what has changed? The mobile
:03:45. > :03:50.device was of the game changer. It really changed how consumers
:03:51. > :03:56.behaved. It put the power of the desktop into the hands of consumers
:03:57. > :04:03.say they could address any need at any point in time. Walmart is trying
:04:04. > :04:09.to adapt by making its delivery service faster and closing some
:04:10. > :04:16.stores to be more nimble. Necessary changes for America's biggest
:04:17. > :04:19.retailer. When we get the results later today, we will update you.
:04:20. > :04:22.We are also talking about Google - it's been hosting thousands
:04:23. > :04:24.of software developers at a huge stadium near its headquarters
:04:25. > :04:28.The developers conference is all about laying out the future
:04:29. > :04:30.The highlight was a personal assistant device called
:04:31. > :04:33.Google Home that lets you control your home using voice commands -
:04:34. > :04:42.Google says it's part of a plan to make interaction with
:04:43. > :04:52.Our technology correspondent Dave Lee was there and sent this report.
:04:53. > :05:01.They like to start them young at Google. Before the event kicked off,
:05:02. > :05:07.the company invited local children and try their hands at developing
:05:08. > :05:11.with robots. This is that does not like to sit still and this is its
:05:12. > :05:17.chance to show off its latest ideas in the hope developers will be
:05:18. > :05:22.motivated to work with Google products. We are pushing ourselves
:05:23. > :05:28.are really hard so that Google is evolving and staying step ahead. Any
:05:29. > :05:34.device uses machine learning to predict what you are able to say.
:05:35. > :05:42.You can also use natural speech to carry out research questions and
:05:43. > :05:51.book restaurant. Google home, is the direct competitor to the Echo
:05:52. > :05:56.competition from Amazon. This headset is due out later this year.
:05:57. > :06:00.Google has unveiled an impressive list of new products but the biggest
:06:01. > :06:09.problem is other companies have got there first. And some for example.
:06:10. > :06:17.-- and is on. The question is, can Google do all those things but
:06:18. > :06:20.better? Particularly in the home, messaging, and both areas represent
:06:21. > :06:25.substantial threats to their business so it is critical they come
:06:26. > :06:33.back stop Google has been active for the 70 years. It has been an
:06:34. > :06:35.evolution. Beyond today's evolution is the company work in machine
:06:36. > :06:42.learning and artificial intelligence that may bring about revolution.
:06:43. > :06:47.Consider what the best climate change research us can do with the
:06:48. > :06:53.power of machine learning. It is this kind of arms and that showed
:06:54. > :06:55.the potential to change the world. Again, Google leader.
:06:56. > :06:57.To Asia now - and reports that Chinese e-commerce
:06:58. > :07:00.giant Alibaba could be about to sign a major sponsorship deal with
:07:01. > :07:17.That is the word in the markets but there is no confirmation of the
:07:18. > :07:25.sponsorship at the moment from Alibaba but if it does materialise,
:07:26. > :07:33.it will expand China's name in world football. Its largest company
:07:34. > :07:41.announcing the 50 year sponsorship deal with Fifa. Its affiliate,
:07:42. > :07:50.already having an 80 year sponsorship for the World Cup. --
:07:51. > :07:57.ate year. The struggle to find new sponsors since the current crisis,
:07:58. > :08:06.top gear partners like Sony and Emirates airlines since the deal
:08:07. > :08:09.expired at the end of 2013. Features corruption scandal was an
:08:10. > :08:16.opportunity for the Chinese conglomerates to further the
:08:17. > :08:23.countries footballing ambitions by undertaking these sponsorship deals.
:08:24. > :08:25.If Alibaba sponsors, they may just pave the way for China to host the
:08:26. > :08:42.World Cup sooner rather than later. Looking at financial markets, really
:08:43. > :08:48.quickly. Markets spooked by Janet Yellen meeting which imply they are
:08:49. > :08:54.poised to raise rates again. The death are on that rates could be
:08:55. > :08:57.going up in June again. I will see you soon.