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Nike shares tumble as it cut costs amid 'softer' outlook
Nike shares tumble as it cut costs amid 'softer' outlook
Economy
by  AFP

Nike promised up to $2 billion in cost savings Thursday involving job cuts and greater use of automation as it eyes "softer" sales in the coming period. The sports giant's cost-cutting plan will simplify product offerings, increase automation and institute a "streamling" of the company organization, Nike said in a news release.

White House urges 'serious scrutiny' of US Steel takeover deal
White House urges 'serious scrutiny' of US Steel takeover deal
Economy
by  AFP

A proposed deal that would see US Steel Corp bought by Japan's Nippon Steel should be closely investigated by American authorities, the White House said Thursday, warning it could have national security implications. "This is a strongly positive development for American steel, American jobs and America's national security," US Steel added.