More than one-in-ten shops on an average high street in Britain are now standing vacant, as the recession continues to force struggling retailers out of business.

Reader's Digest, publisher of the monthly magazine which claims the largest circulation in the world, announced plans to file for bankruptcy protection in agreement with its major lenders.

The world's fourth largest retailer Metro has set its sights on emerging markets in Eastern Europe and Asia in its search for growth, giving the U.S. market the cold shoulder.

German drug store chain Schlecker has sought anti-trust clearance to buy as many as 71 German outlets from insolvent department store group Woolworth.

Mexican retailers group ANTAD said its members' same-store sales were unchanged in July compared with the same month a year ago, supporting the view that a deep recession may almost be over.

Department store operator Macy's Inc posted a lower quarterly profit, but raised its full-year profit outlook, sending shares up 2.8 percent in premarket trading.

Mexico's peso slipped by the most in four weeks and stocks fell after data showed that inventories at U.S. wholesalers fell for the 10th straight month in June, curbing hopes for a recovery in Mexican exports.

Japan's second-largest retailer, Aeon Co Ltd, said it will buy Mitsubishi Corp's TV shopping unit as it seeks to expand beyond bricks-and-mortar stores.

The organizers of the Pure London trade show have announced that visitor numbers saw an increase of 9% this year, even if, for the moment at least, they are keeping the exact figures to themselves.

Brazil's retail sales data this week will likely show domestic consumption continues to grow steadily, pushing Latin America's largest economy out of recession at a fast pace.

Macy's Inc reported worse-than-expected same-store sales in July, but forecast second-quarter earnings roughly three times greater than analysts were expecting, and shares jumped as much as 12 percent.

Off-price retailer Ross Stores Inc posted a bigger-than-expected 4 percent rise in July same-store sales and forecast second-quarter earnings ahead of estimates, as cash-strapped consumers turn to value retailers to seek out bargains amid the recession.

Mexico's peso pared gains to trade nearly flat after key U.S. economic data showed consumer spending in the United States shrank in the second quarter, pointing to a sluggish recovery for Mexico's exports.

Mexican stocks slipped and the peso lost ground after news that U.S. consumer confidence fell more than expected in July, boding poorly for a recovery in Mexico's exports.

EU regulators said they would fine-tune antitrust rules on distribution deals between manufacturers and retailers due to the stronger power of big players and the increasing popularity of Internet sales.