Nike’s new game plan
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 9 July 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Nato leaders are meeting for its 75th anniversary summit amid tensions within their countries, and Europe’s battery industry is feeling the impact of the global slowdown in electric car sales. Plus, the FT’s Sara Germano explains the reasons behind Nike’s worst single-day performance on the stock market since 1980.
Mentioned in this podcast:
Nato allies to pledge €40bn for Ukraine amid domestic turmoil
Europe’s battery industry hit by EV slowdown and Chinese competition
Downturn of the Swoosh: how Nike took its eye off the ball
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Tuesday, July 9th, and this is your |
| 0:17.2 | FT news briefing. World leaders are a little distracted going into today's NATO summit |
| 0:24.4 | and European battery makers are in need of a jump. |
| 0:28.4 | Plus Nike used to be the king of the court, |
| 0:31.0 | but sneaker heads aren't as interested in Air Jordans anymore. |
| 0:35.0 | Some of the brands and franchises like the Jordans don't have the same cashier that they did even a decade ago. I'm Mark |
| 0:44.3 | Filipino and here's the news you need to start your day. NATO kicks off its 75th anniversary summit today in Washington, D.C. |
| 1:06.6 | And unfortunately, it's not a great time for a lot of the Alliance's most important |
| 1:12.2 | members. |
| 1:13.0 | You see, problems back at home are threatening to spoil any progress. |
| 1:18.0 | My colleague Henry Foy is in town from Brussels covering the summit. |
| 1:22.0 | Hey Henry. Hey Mark. Okay Henry just do me if |
| 1:25.6 | if ever and set the scene for what's going on in this week's summit like |
| 1:29.1 | what's the sort of backdrop that leaders are facing as they assemble in DC. |
| 1:33.2 | Well Mark a lot of the biggest member states certainly the biggest |
| 1:37.2 | European ones are arriving here in DC with all sorts of political crises going on back home. |
| 1:44.0 | Most prominently, of course, French President Emmanuel Macron, |
| 1:47.5 | this past weekend parliamentary elections in France |
| 1:49.8 | have delivered a very fractured parliament in Germany, Chancellor Olaf Schultz, his coalition is |
| 1:55.9 | deeply unpopular. The party came forth in the last European elections. There's a new |
... |
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