1. M&S to shut up shops

Marks & Spencer plans to close 100 shops by 2022 as part of a transformation plan to tackle falling sales and profits. The British retailer says it will take exceptional charges of more than £320m to cover the cost of shutting stores. Fashion chain New Look will close 60 outlets and House of Fraser is planning at least 20 closures, amid tough trading conditions and rising costs in the UK.

2. McD’s doesn’t give a straw

Shareholders at McDonald’s annual meeting rejected a proposal to phase out plastic straws.

The fast-food chain distributes an estimated 95m single-use straws around the world every day, according to consumer advocacy group SumOfUs. Fewer than 8% voted in favour of the proposal. Consumer concern about the effects of plastic pollution has put pressure on the food industry to be more sustainable.

3. Something to sniff at

The US postal service has announced it will soon issue its first scratch-and-sniff stamps, featuring illustrations of popsicles.

The postal service press release hints at scents ranging from fruits, such as watermelon and orange, to chocolate and root beer. The collection will depict watercolour illustrations by Californian artist Margaret Berg. Each of the 10 stamp designs will feature the scents of two different treats.

4. Painting the town blue

To celebrate the launch of Tiffany & Co’s new jewellery collection, Paper Flowers, some of New York’s yellow taxis and subway stations were painted the brand’s trademark robin’s-egg blue, with Tiffany-branded MetroCards also up for grabs for a few riders. The installation lasted four days.

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