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Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday. In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed,…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ken Griffin has hit back at Zohran Mamdani after the New York mayor last week used the hedge fund billionaire’s $238mn penthouse to push for a tax on luxurious second homes. Citadel, the firm founded…
Lip-Bu Tan, CEO of Intel Corp., departs following a meeting at the White House in Washington, Aug. 11, 2025. Alex Wroblewski | Bloomberg | Getty Images Intel reported first-quarter earnings Thursday that blew past Wall Street’s expectations, as the struggling chipmaker shows signs of a revival. Shares of the U.S. chipmaker jumped 19% in after-hours…
The Trump administration moved Thursday to reclassify cannabis under federal law, which could significantly expand scientific research into the drug’s medical uses. The change would not legalize the drug at the federal level, but shift cannabis from its current status as a Schedule I substance to Schedule III under the U.S. Drug Enforcement Administration’s controlled…
The U.S. and Iran seized commercial ships from the Persian Gulf to the Indian Ocean this week, as they compete for control of the Strait of Hormuz during the ceasefire agreement. Brent oil, the international benchmark, has risen above $100 per barrel again as tanker traffic through the strait remains at a near standstill. Two…
U.S. Secretary of Health and Human Services Robert F. Kennedy Jr. gestures as he speaks during an event at the Roosevelt Room of the White House in Washington, D.C., U.S., Dec. 19, 2025. Evelyn Hockstein | Reuters Health and Human Services Secretary Robert F. Kennedy Jr. on Wednesday said he would support a potential ban…
Rodney Benson, a media professor at New York University, called the deal “concerning”, would leave America’s largest media companies further concentrated in the hands of conservatives. Many of those owners, including the Ellison family, have separate, non news-related business interests that depend on government contracts or regulation and are therefore particularly vulnerable to pressure, he…
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The White House has accused China of undertaking industrial-scale theft of American artificial intelligence labs’ intellectual property and warned that it would crack down on a practice that exploits US innovation. “The US government has…
In this handout photo provided by U.S. Central Command, U.S. forces patrol the Arabian Sea near M/V Touska on April 20, 2026, after firing upon the Iranian-flagged vessel that the U.S. accused of attempting to violate the U.S. naval blockade of Iranian ports near the Strait of Hormuz. U.S. Navy | Getty Images President Donald…
Mayor Zohran Mamdani is floating a plan to delay payments into New York City’s municipal pension funds — his latest effort to stave off service cuts and a property tax increase as he grapples with a multibillion-dollar budget gap. The plan, which the mayor’s team has presented to the administration of Gov. Kathy Hochul, could…
