RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Glastonbury is as popular than ever, but complaints about the lineup reveal its generational challenge 
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 
Youth are charting new freshwater futures by learning from the water on the water 
How to support someone who is grieving: five research-backed strategies 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Nike's decision to indefinitely close its Portland factory store amid theft and safety concerns has rocked the community. Having been temporarily closed since last November, the move marks a significant economic setback for the area. Nike remains committed to Portland, seeking ways to support and revitalize the neighborhood.
The Soul District Business Association (SBDA), representing the local business community, confirmed Nike's decision in a phone conversation with the organization's leaders. The SBDA described the closure as a significant blow to the neighborhood's economy, further adding to the collective disappointment.
The news left many in the district in disbelief. Since November of last year, when the store quietly closed its doors, the community had been grappling with anticipation, hoping for a resolution from Nike, city officials, and community leaders. Sadly, it appears that this battle has come to an end.
Addressing the development, John Washington, the SDBA's executive director, stated, "We had been holding our breath, but it looks like it's game over." The closure highlights the ongoing challenges businesses face after the pandemic and protests. The community's resilience was tested, but hopes for a triumphant outcome have faded.
Responding to inquiries, Nike expressed deep concern for Portland's North and Northeast communities. The company emphasized its enduring commitment to the area and its nearly four-decade-long presence.
Nike has driven community change through volunteerism, investments, and partnerships with non-profit organizations that benefit the neighborhood. As the brand looks ahead, it aims to reimagine its retail space and contribute to the long-term revitalization plans of the community.
The location's closure at 2650 NE Martin Luther King Jr. Boulevard marks the beginning of a new, exciting chapter for Nike. The company pledges to engage local community organizations and leaders in determining the most suitable new location.
Earlier reports revealed that Nike had considered bolstering security measures at the store by offering to pay for off-duty police officers. However, this proposal did not materialize due to concerns surrounding officer staffing shortages in a city that recently made headlines for reallocating funds from its police force.
Photo: Craig Lovelidge/Unsplash
