Economy
European spending drops as trade tensions hit consumer wallets
Eurozone retail sales fell sharply in May, marking the steepest drop since 2023, as consumers showed caution amid rising trade tensions with the US. Fears over looming tariffs and economic uncertainty are weighing on spending across Europe.
Business
Nike expects US tariffs to cost it $1bn and warns of falling sales
The ailing US sportswear company reported falling revenues and income. Its fiscal guidance for the current quarter nonetheless gave investors a glimmer of hope, pushing the share price up around 10% in after-hours trading in the US.