Business

(Reuters) — Nike warned on Thursday that its revenue in the first half of fiscal 2025 would shrink by a low single-digit percentage as the world’s largest sportswear maker scales back on franchises to save costs. Nike’s warning came after the stock market closed, and shares were down ab…

(Reuters) — China-founded fast-fashion company Shein will make its supply-chain infrastructure and technology available to global brands, the Wall Street Journal reported on Wednesday, citing a letter to investors from Executive Chairman Donald Tang. FILE PHOTO: A keyboard and a shopping cart are s…

BRUSSELS (Reuters) — Alphabet’s Google on Thursday will seek to fend off criticism about changes to its core services mandated by landmark EU tech rules, according to a copy of a senior Google executive’s speech seen by Reuters. Oliver Bethell, a lawyer who leads Google’s EMEA com…

SHANGHAI (Reuters) — Apple CEO Tim Cook said he is currently visiting Shanghai, according to a post on his Weibo account on Wednesday. Cook said he spent the morning walking along Shanghai’s historic Bund river with Chinese actor Zheng Kai and having a local breakfast but did not disclose wha…

BRUSSELS (Reuters) — Meta Platforms has offered to almost halve its monthly subscription fee for Facebook and Instagram to 5.99 euros from 9.99 euros, a senior Meta executive said on Tuesday, a move that aims to address concerns from privacy and antitrust regulators. The price cut follows mounting …

(Reuters) — The artificial intelligence boom has hit the crypto market with a bang. Coins linked to AI-focused crypto projects have jumped alongside tech stocks like Nvidia, driven by insatiable investor appetite for applications like machine-learning. The rise of many AI crypto tokens has outpaced…

(Reuters) — AstraZeneca said on Tuesday it has agreed to buy clinical-stage biopharmaceutical company Fusion Pharmaceuticals Inc for about $2 billion in cash. The drugmaker will pay $21 per Fusion share plus a non-transferable contingent value right of $3 per share. FILE PHOTO: Test tubes are seen …