Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Nike, the American sportswear and sneaker maker, has ended its resale contracts in Russia by not renewing its agreement with its largest local franchisee there. The move was first revealed on Wednesday, May 25.
Apparently, the decision to no longer renew its contracts means Nike is also leaving Russia. With this, it has become the latest major company that has officially ended its business in the country led by President Vladimir Putin.
According to Reuters, Nike temporarily suspended its operations in Russia in March. It has closed down all of its stores, and this was a response to the country's actions to attack Ukraine and invade it. Despite the suspension, people may still see some Nike outlets that have remained open, and the company clarified that these are not operated by them but by independent partners.
Inventive Retail Group is the operator of the Nike-branded store outlets in Russia, and its head shared this week that the footwear manufacturer has already stopped supplying products. The Russian retail group has been selling Nikes locally through its subsidiary called the Up And Run.
"As supplies of goods run out IRG will be forced to close all of its shops under this brand," Vedomosti, a Russian publication, quoted IRG president Tikhon Smykov as saying in a letter to employees, via Reuters. "We started a joint business in 2012, we lovingly built up the best chain of stores in the country and ended up 10 years later in a situation where that business cannot exist."
An IRG spokesperson further said, "As you can see from our shops, deliveries have stopped and goods are in short supply. In the current realities, we can not continue to support the operation of mono-branded Nike stores and will be forced to close them."
It was reported that Up And Run runs 37 store outlets throughout Russia, and it has locations from St Petersburg to Novosibirsk. At this time, its website shows, it now has 28 remaining stores that are still open.
Meanwhile, The Moscow Times reported that Nike's contract with IRG and other authorized retailers expired on Thursday, May 26. Despite this, Nike confirmed that it will still continue to pay its Russian employees.
Kristian Egelund/Unsplah
