Nike stock plunges after shocking earnings report, company plans lay offs

Economic Times - Oct 1, 2026

Nike earnings statement shows that the company projected sales in the current fiscal year would fall by "high-single digits". Nike reported a two percent drop in quarterly profits to $712 million. Revenues fell four percent to $11.2 billion for the quarter ending August 31, the first quarter of Nike's fiscal 2027.

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US stocks: US market rebounds to close higher as surging Treasury yields recede
Oct 1, 2026
US stocks: US market rebounds to close higher as surging Treasury yields recede

US stocks recovered from earlier losses, with the S&P 500 bouncing back after a global bond selloff. The Labor Department reported a dip in weekly initial jobless claims, indicating a solid labor market. Oil prices surged, raising inflation concerns as Brent crude settled significantly higher. Technology shares also showed strength, particularly after Accenture's positive revenue forecast.

Malaysia Airlines stopped using flight code MH370 after the plane disappeared with 239 people aboard - why airlines retire flight numbers after aviation tragedies
Oct 1, 2026
Malaysia Airlines stopped using flight code MH370 after the plane disappeared with 239 people aboard - why airlines retire flight numbers after aviation tragedies

Malaysia Airlines MH370: Malaysia Airlines changed flight numbers MH370 and MH371 following the aircraft's disappearance in March 2014. The aircraft, carrying 239 people, vanished during its journey from Kuala Lumpur to Beijing. Extensive search operations were conducted in the Indian Ocean, but the main wreckage remains undiscovered.

Social Security claiming age names could change: Will your benefits change? What new labels for ages 62, 67 and 70 really mean
Oct 1, 2026
Social Security claiming age names could change: Will your benefits change? What new labels for ages 62, 67 and 70 really mean

Congress has cleared a bill that would give Social Security’s key claiming ages new names. The proposal would call 62 the “minimum monthly benefit age,” 67 the “standard monthly benefit age,” and 70 the “maximum monthly benefit age.” The ages themselves would not change. The goal is to make the benefit trade-offs easier to understand before workers decide when to claim.

India-US trade deal 'not imminent'; USTR Greer says 'sticking points' identified
Oct 1, 2026
India-US trade deal 'not imminent'; USTR Greer says 'sticking points' identified

US Trade Representative Jamieson Greer said the Trump administration is working with India to finalise a bilateral trade deal, but an agreement is not imminent. Greer said he had a “very constructive conversation” with Commerce Minister Piyush Goyal at the G20 trade ministers meeting and that officials remain engaged.

Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Oct 1, 2026
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead

Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend on analyzing economic data trends and risks. Minneapolis Fed President Neel Kashkari expressed uncertainty regarding the timing of the next rate hike amidst strong economic performance. Both officials acknowledged the ongoing challenges of managing inflation that exceeds the 2% target.

Jeff Bezos just put $25 million into the Pacific Ocean. Is the Bezos Earth Fund enough to save the Pacific Ocean before the $10 billion deadline?
Oct 1, 2026
Jeff Bezos just put $25 million into the Pacific Ocean. Is the Bezos Earth Fund enough to save the Pacific Ocean before the $10 billion deadline?

The Bezos Earth Fund has committed $25 million to enhance conservation efforts across five Pacific island nations, now totaling approximately $63.3 million dedicated to preserving marine ecosystems. This initiative strives to safeguard at least 30% of the oceanic territories by 2030, aligning with Jeff Bezos' ambitious $10 billion climate pledge. As the deadline nears, over $7 billion remains available for impactful distribution.

SC seeks Centre, Bengal govt response on Mahua Moitra’s plea over MPLADS works
Oct 1, 2026
SC seeks Centre, Bengal govt response on Mahua Moitra’s plea over MPLADS works

The Supreme Court has sought responses from the Centre and West Bengal government on TMC MP Mahua Moitra’s plea alleging obstruction in implementing works under the MPLADS in her Krishnanagar constituency. A bench of Justices Joymalya Bagchi and V Mohana also heard her allegations that her functioning as an MP had been impeded.

SC seeks Centre, Bengal govt response on Mahua Moitra’s plea over MPLADS works
Oct 1, 2026
SC seeks Centre, Bengal govt response on Mahua Moitra’s plea over MPLADS works

The Supreme Court has sought responses from the Centre and West Bengal government on TMC MP Mahua Moitra’s plea alleging obstruction in implementing works under the MPLADS in her Krishnanagar constituency. A bench of Justices Joymalya Bagchi and V Mohana also heard her allegations that her functioning as an MP had been impeded.

Buxa to get its first tigress as Bengal begins tiger reintroduction drive in north
Oct 1, 2026
Buxa to get its first tigress as Bengal begins tiger reintroduction drive in north

A tigress translocated from Bihar’s Valmiki Tiger Reserve will be released into West Bengal’s Buxa Tiger Reserve on Friday, marking the first such exercise in Bengal and eastern India. The move aims to restore the reserve’s tiger population, strengthen the ecosystem and boost tourism in the Dooars region, officials said.

Buxa to get its first tigress as Bengal begins tiger reintroduction drive in north
Oct 1, 2026
Buxa to get its first tigress as Bengal begins tiger reintroduction drive in north

A tigress translocated from Bihar’s Valmiki Tiger Reserve will be released into West Bengal’s Buxa Tiger Reserve on Friday, marking the first such exercise in Bengal and eastern India. The move aims to restore the reserve’s tiger population, strengthen the ecosystem and boost tourism in the Dooars region, officials said.

‘Get Friday off if public holiday falls Saturday’: Indian man says Australia has cracked the holiday code, gets day off to watch horse race
Oct 1, 2026
‘Get Friday off if public holiday falls Saturday’: Indian man says Australia has cracked the holiday code, gets day off to watch horse race

An Indian man who has lived in Australia for 10 years has shared a humorous comparison of public holidays in Australia and India. Aditya Khaneja pointed to holidays linked to sporting events, horse racing and fairs in Australia, contrasting them with India’s religious and national occasions. His take on weekend holiday rules also drew attention online.

Rahul Gandhi asks who ordered TCS to change Form 6, whether firm was pressured
Oct 1, 2026
Rahul Gandhi asks who ordered TCS to change Form 6, whether firm was pressured

Congress leader Rahul Gandhi questioned the Election Commission over changes to online Form 6, asking who ordered Tata Consultancy Services to implement them and who approved them at TCS. Gandhi also asked whether the company was pressured. Congress leader Jairam Ramesh separately alleged the changes were aimed at removing Gen Z voters.

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