Nike Inc (NKE.N) said on Thursday it would cut about 2 percent of its global workforce and eliminate a quarter of its shoe styles as it looks to become nimbler in the face of intensifying competition and fast-changing consumer trends. - From Reuters
Under the plan, called "Consumer Direct Offense", Nike will concentrate on 12 key cities in 10 countries, which are expected to represent over 80 percent of its projected growth through 2020.
Nike's shoes had held the position for more than a decade.
WASHINGTON The Federal Reserve raised interest rates on Wednesday for the second time in three months and said it would begin cutting its holdings of bonds and other securities this year, signaling its confidence in a growing U.S.
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