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