nike set sales of footwear in north america, which is its largest market fell 5%. in china, another key market, which is slowly recovering, footwear sales were down 1%. now, on the bright side, if you take footwear sales together with nike sales of footwear in north america, which is its largest market fell 5%. nikkei executive said they are working to improve things, announcing $2 billion in cost cuts over the next three years. the sneaker giant plans to simplify its product line up. it wants to increase its use of technology and streamline the overall organisation. the plan is going to cost the company 400 million to 450 million to invest. adding that the company sees an outstanding opportunity to drive long term profitable growth. and after the retail giant more that demand would continue to be weak for at least the next six months, investors are hoping this turnaround will and nike s losing streak. to india now, and alcoholic exports are likely to cost when billion dollar
Suffered multiple setbacks. A fire at its gigafactory in berlin halted production. Higher interest rates, which put up borrowing costs, are also taking a toll and it has an ageing line up of vehicles. But it is the Chinese Market that investors are most worried about. Dan ives from Wedbush Securities blamed rising Ev Competition and a lingering price war for the challenges that the Company Faces in that market. The gloomy outlook, well, its driven teslas stock down roughly 30 since the start of this year. Still one bright spot it looks poised to retake the title of largest ev maker in the world from chinese rival byd, which on monday said it had sold around 300,000 evs during the quarter. Here are some of them might have, tesla and other makers of Electric Vehicles the Senior Minister in the Indian Government in charge of Road Transport has said that the country will have no diesel or petrol vehicles in the future. But the minister didnt give any timeframe for this and vicious target n
nearly all of their workers are threatening to quit if the board doesn t resign and reinstate the former leadership. board members fired mr altman friday saying in a statement he was not consistently candid communications with them. in his communications with them. the company also announced greg brockman, the president and co founder of openai, would step down as chairman of the board. but he quit. the company has named emmett shear, the co founder of livestreaming platform twitch as its interim ceo. two prominent openai heads to have signed on to the letter and chief technology officer and the firm s chief scientist. on monday morning there was a tweet seeing there was a deep regret on the board s actions. the openai has been the dominant force in ai development with its chatgpt chat port. chat bot. this episode highlights a split in the field of ai between those pushing for progress and those urging caution. meanwhile, microsoft has invested more than $13 billion in