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Nike posts quarterly loss after virus forced store closures

Nike lost $790 million in the fourth quarter, as soaring digital sales couldn't make up for the loss of revenue from shuttered stores in most of the world. The world's largest sports apparel maker said Thursday that its revenue fell 38% to $6.31 billion in the three-month period ending May...

Stocks sell off as coronavirus surge knocks recovery hopes

Asian stocks posted their biggest drop in eight sessions, bonds rose and the US dollar was firm Thursday as surging US coronavirus cases and an International Monetary Fund downgrade to economic projections knocked confidence in a recovery. MSCI's broadest index of Asia-Pacific shares...

IMF downgrades outlook for global economy in face of virus

The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year, significantly worse...