Nike profit tops targets but margins dis...

Nike profit tops targets but margins disappoint some


Nike Inc topped first-quarter profit on Tuesday, but a small rise in gross margins and no change in its 2019 forecast despite the launch of a successful ad campaign was not enough for some investors, sending shares down 4 percent after hours.

Delta lifts U.S. groundstop after restoring computer systems

Delta Air Lines Inc said it has restored all its systems after a technology issue grounded some flights that had not yet taken off, briefly disrupting travel for its passengers across the country.

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Oil prices drop, Brent moves further away from four-year high

Brent oil edged further away from a four-year high on Wednesday and U.S. crude fell, after the U.S. said it would ensure crude markets are well supplied before sanctions are re-imposed on Iran and as President Donald Trump criticized high prices.

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Asian shares hover below three-week high as Fed rate hike looms

Asian shares barely budged on Wednesday, lacking traction as U.S. bond yields edged near a seven-year peak ahead of a widely expected rate hike by the Federal Reserve and as international oil prices rose to four-year highs.

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U.S. says Canada not making concessions needed for NAFTA deal

Canada is not making concessions needed to reach a deal with the United States for a trilateral NAFTA pact and is running out of time before Washington proceeds with a Mexico-only agreement, a top U.S. official said on Tuesday.

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Dunkin' drops 'Donuts' from name in shift to coffee

Dunkin' Donuts said on Tuesday it plans to rebrand itself as "Dunkin'" as part of new CEO Dave Hoffman's plans to bring beverages and breakfast meals to the forefront of the restaurant chain's menu.

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Dunkin's rebranding leaves hole in heart of doughnut lovers

Doughnut lovers took to social media on Tuesday to decry a decision by Dunkin' Donuts to drop its signature product from its name, an effort by the brand now known simply as Dunkin' to highlight a wider array of menu items and appeal to a younger generation.

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S&P 500 dips as chip stocks and utilities tumble

The S&P 500 fell on Tuesday as chipmakers were dented by ratings downgrades and utilities declined ahead of an expected Federal Reserve interest rate hike, offsetting a boost from the energy sector.

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Independent BMW car dealers loath to agree new terms: Sueddeutsche Zeitung

Most of BMW's 550 independent car dealerships are unwilling to accept new terms set by the carmaker and are threatening to ignore an end-September deadline, Sueddeutsche Zeitung reported on Wednesday.

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Apple shaves cost from displays in newest iPhones: analyst firm

Apple Inc shaved some parts from the display in its largest new iPhone, helping keep costs under control in what has become the priciest component of its phones in recent years, according to a new cost analysis of the device.

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Deutsche Bank mulls merger scenario with UBS: Handelsblatt

Deutsche Bank has looked at a theoretical scenario of merging with UBS , the German business daily Handelsblatt reported, citing people familiar with the matter.

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Raytheon Co wins $1.5 billion U.S. defense contract: Pentagon

Raytheon Co has been awarded a $1.5 billion modification to a contract for the sale of Patriot missile systems to Poland, the Pentagon said in a statement on Tuesday.

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Energy shares rise on higher oil; dollar slips as policy tightening eyed

Energy stocks climbed on Tuesday as oil prices surged above $81 a barrel, but U.S. shares ended lower as chipmakes fell on ratings downgrades and rate-sensitive shares lost ground ahead of an expected Federal Reserve interest rate hike.

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Oil jumps, then pares gains as Trump pressures OPEC again

Oil prices rose Tuesday on global supply concerns following U.S. sanctions on Iran's oil exports, with benchmark Brent surging to a four-year high, then retraced gains to settle just slightly higher after U.S. President Donald Trump called again on OPEC to boost crude output.

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Michael Kors makes high-end fashion statement with $2.2 billion Versace buy

Michael Kors agreed to buy luxury designer Versace for 1.83 billion euros ($2.15 billion) including debt on Tuesday, as the U.S. fashion group positions itself to take on larger European rivals.

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Versace sale turns up heat on fashion's independent outliers

Michael Kors' swoop on Versace leaves a shrinking universe of fashion brands determined to go it alone and fend off luxury empire builders, raising the pressure on those struggling financially to lift sales or sell out.

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Qualcomm accuses Apple of stealing its secrets to help Intel

Qualcomm Inc on Tuesday accused Apple Inc of stealing its chip-making secrets and giving them to rival Intel Corp, paving the way for Apple to switch to Intel's improved semiconductors, which may have cost Qualcomm billions of dollars in lost sales.

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China says U.S. putting 'knife to its neck', hard to proceed on trade

A senior Chinese official said on Tuesday it is difficult to proceed with trade talks with the United States while Washington is putting "a knife to China's neck", a day after both sides heaped fresh tariffs on each other's goods.

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Full-blown trade war would cost jobs, growth and stability: WTO's Azevedo

A full-blown trade war would have serious effects on global economic growth and there would be no winners in such a scenario, the director-general of the World Trade Organization (WTO), Roberto Azevedo, said on Tuesday.

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No class action for unhappy Uber drivers: U.S. appeals court

Uber Technologies Inc won a legal victory on Tuesday as a federal appeals court said drivers seeking to be classified as employees rather than independent contractors must arbitrate their claims individually, and not pursue class-action lawsuits.

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