FT News Briefing
Nike’s new game plan
Jul 9, 2024
NATO leaders gather for a critical summit, navigating domestic pressures and pledging support for Ukraine. Europe's battery industry feels the pinch from a faltering EV market and rising Chinese competition. Meanwhile, Nike faces turmoil with its stock plummeting due to a banned basketball shoe and waning consumer interest in iconic Air Jordans. The discussion highlights shifting dynamics within global politics and market landscapes, emphasizing the complexities confronting both alliances and major brands.
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Quick takeaways
- NATO leaders face domestic turmoil affecting unity and Ukraine support.
- Europe's battery industry struggles from low EV sales and Chinese competition.
Deep dives
Challenges Facing World Leaders at the NATO Summit
As leaders gather for the 75th NATO summit in Washington, DC, they face significant domestic challenges back home. Countries like France, Germany, and Spain are dealing with political instability, affecting their focus on discussions about supporting Ukraine. Additionally, concerns about President Biden's reelection campaign and the US's commitment to NATO raise uncertainties about the alliance's future unity and ability to defend Europe.
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