Nike promotes Allaker to head Umbro

Nike to cut about 1,750 jobs worldwide
Shoe and apparel company Nike Inc. said Thursday that it will cut about 1,750 jobs worldwide, or 5 percent of its global work force.

Summary Box: Nike's 3rd qtr
THE RESULTS: Nike Inc. reported that its third-quarter net income rose 5 percent as its sales rose in almost all divisions. That amounted to $1.08 per share on revenue of $5.08 billion.

Olander Says Nike's GPS-Watch Can Link to Social Media
Jan. 6 -- Stefan Olander, vice president of digital sport at Nike Inc., talks about the company's new watch equipped with a global positioning system.

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