Google has confirmed that it has closed its Internet drone project Titan, three years after it bought the business. The drones were designed to bring the Internet to remote rural areas, complementing its Loon project -- a similar initiative using hot air balloons. However, the solar-powered vehicles have faced technical difficulties and funding challenges.

Nintendo has said it will release its long-awaited new console, the Nintendo Switch, on 3 March. It will cost $299.99 in the US, GBP279.99 in the UK and 29,980 yen ($260) in Japan -- more than some analysts and gamers had been expecting. The stakes are high for the Japanese firm after its most recent console, the Wii U, failed to replicate the success of the original Wii.

Sony is closing its Cambridge-based video game studio, Guerrilla Cambridge. The developer's most recent title was the PlayStation VR release "Rigs." Prior to that it had worked on "Killzone," "LittleBigPlanet" and "MediEvil" games. The studio has been in existence for 19 years. A spokeswoman for Sony said about 50 people were currently employed there.

Despite being "thrilled" with the performance of its Buster the Boxer Christmas ad this year, John Lewis conceded that its festive ads are "no long as groundbreaking" and says it could switch up its approach in 2017. John Lewis posted a 2.7% rise in like-for-like sales over the six-week period to 31 December.

Eamonn Store, the chief executive of Guardian US, is stepping down. Evelyn Webster, the former executive vice president at Time Inc, will take over in an interim role and begin the search for a new chief executive. Before joining the publisher, Store worked across several agencies including Starcom Mediavest Group, Profero, and Carat. He will depart Guardian US later this month.

Britain's retail sector appears to have enjoyed a far better Christmas than expected, despite fears that there would be blood on the high street from falling footfall, slower spending and rising prices in the wake of Brexit.

On Wednesday, Instagram said it was introducing advertising within the ephemeral image-sharing feature and metrics to measure its effectiveness. The Facebook-owned app said it is partnering with more than 30 companies to test advertising in Stories in the U.S., including Airbnb, McDonald's, BuzzFeed, Nike, L'Oreal, General Motors, AT&T, Coca-Cola and Live Nation.

Snap, owner of instant-messaging service Snapchat, has contacted agencies ahead of the brand's first above-the-line campaign in the UK. Will Scougal, Snap UK's head of creative strategy, is believed to have contacted creative agencies. He joined the company in November 2015 from Twitter UK, where he was head of brand strategy.

Over one in five companies in the UK advertising industry have already lost business or contracts as a result of the UK's vote to leave the EU. Research from advertising think tank Credos on behalf of the Advertising Association (AA) also found that less than one in four (23%) of the ad sector believes Brexit offers international growth opportunities.

Marks & Spencer's clothing and home sales bounced back to post growth of 2.3% over the Christmas period. It was the first period of like-for-like growth for the struggling division for nearly two years and the first over the festive season for six years, and comes after new boss Steve Rowe took over in April. Food sales grew by 0.6% in the 13 weeks to 31 December, the retailer said.