Wal-Mart reports fall in quarterly profits

The world's largest retailer, Wal-Mart, has reported a 22% drop in quarterly profit and given a weaker-than-expected earnings forecast for the coming year.

McDonald's profits boosted by store revamps

McDonald's profits rose 5% in the first quarter to $1.27bn, helped by a revamp of its restaurants. The company said profits had also been boosted by new menu items, including chicken McBites and McCafe drinks.