Ackman exits Nike stake with US$100M in profit: Report
William Ackman's Pershing Square Capital Management LP cashed out its 0.71 per cent stake in Nike Inc, making a profit of about US$100 million, according to a source familiar with the matter.
U.S. stocks dropped on Thursday, with each of the major Wall Street indexes suffering its biggest one-day percentage drop in six weeks, on the heels of an action by President Donald Trump to impose tariffs on up to $60 billion of Chinese imports.
Bitcoin fell after one of the world’s largest cryptocurrency exchanges was said to face a government rebuke for operating without a license in Japan, heightening concern that increased regulatory scrutiny will curb demand for digital assets.
The U.S. dollar slipped on Thursday after the Federal Reserve held back from increasing the pace of this year's rate hikes, while worries over an impending announcement on trade tariffs from U.S. President Donald Trump capped Asian shares.