And in the real world... John Lewis, Porsche/VW, Hulu and more

LONDON - Today's round-up of the biggest business stories.

World news... round-up
World news... round-up

Porsche and Volkswagen have announced they are to merge.
Source: Financial Times

John Lewis will open 50 specialist home stores, which will be a third of the size of existing stores and stock two-thirds of products. The retailer had originally planned to open ten full-size stores and a handful of smaller stores.  
Source: The Guardian

Negotiations between Jaguar Land Rover and the Government are close to breaking down over terms in the financial support package needed to keep the car company alive.
Source:  The Telegraph

Next has credited the sunny weather to better-than-expected profits in the first quarter of 2009. As a result, it has raised its profit guidance for the year.
Source: Financial Times

The online video service Hulu, set up by Walt Disney, Fox and NBC Universal, has signed its first deals to air international TV content in the US.
Source: Financial Times