Nike unveiled it's Olympic Collection on Wednesday (February 5), gathering U.S. sport legends in an uptempo fashion show in New York to show off what the team will wear to the Tokyo 2020 Games.

Nike unveils Olympic Collection in New York

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Some variants of Nike's Vaporfly running shoes have been outlawed for elite competition and strict limits on the technology developed for any future shoes introduced after World Athletics announced significant changes to its rules on Friday.

The sport's governing body (WA) said that with immediate effect and for elite competition only, road shoes must have soles no thicker than 40mm and not contain more than one rigid, embedded plate.

The Vaporfly variants used by Eliud Kipchoge to run the first sub-two-hour marathon and by fellow Kenyan Brigid Kosgei to smash the women's marathon world record both contained triple carbon plates inside the thick, ultra-compressed foam, said by Nike to help improve running economy by up to four per cent.

The new rules also state that, from April 30, any shoe used in elite competition must have been generally available to the public for four months - putting paid to the use by Nike and others of prototypes by their athletes in major races.

There will also be new rules governing the construction of track spikes.

WA's review concluded that the new technology "may provide a performance advantage and could raise concerns that it might threaten the integrity of the sport".

WA will now establish an expert working group to guide future research into shoe technology and to assess new shoes that emerge on the market.

Nike did not immediately respond to Reuters' request for comment on the decision.

“It is not our job to regulate the entire sports shoe market but it is our duty to preserve the integrity of elite competition by ensuring that the shoes worn by elite athletes in competition do not offer any unfair assistance or advantage," WA President Sebastian Coe said in a statement.

"As we enter the Olympic year, we don’t believe we can rule out shoes that have been generally available for a considerable period of time, but we can draw a line by prohibiting the use of shoes that go further than what is currently on the market while we investigate further.

“I believe these new rules strike the right balance by offering certainty to athletes and manufacturers as they prepare for Tokyo 2020 while addressing the concerns that have been raised about shoe technology."

'Secret weapon'

Nike unleashed the Vaporfly in 2016 and various versions have quickly come to dominate the elite and "serious recreational" side of road running.

Marathon superstar Kipchoge has been the model's flagbearer, wearing them to set a world record, win the 2016 Olympic title and then go under two hours in an unofficial marathon.

Kosgei ran 2:14.04 in last year's Chicago Marathon, taking 81 seconds off Briton Paula Radcliffe's 16-year-old women's marathon world record and making her almost three minutes faster than any other woman in history.

Vaporflys have featured in several other records in the last three years and athletes wearing them took 31 of the 36 top-three finishes in the Marathon Majors series last year. The distinctive pink and green footwear is now widespread throughout the fields of every major race.

Kipchoge and other leading athletes have welcomed the shoes as a natural technological advance, but others say they have gone too far, with Yannis Pitsiladis, a professor of sport and exercise science at Britain's Brighton University, calling them "technological doping".

Nike says the shoes, which cost around $250 and have a lifespan of only around 200 miles, have "a built-in secret weapon that provides a propulsive sensation".

Other manufacturers have also released, or are developing, their own carbon-insoled shoes, but WA's ruling would now appear to have put the brakes on.

WA's action echoes that of swimming' s governing body, which a decade ago banned Speedo's record-smashing LZR speed suit.

Some variants of Nike's Vaporfly running shoes have been outlawed for elite competition and strict limits on the technology developed for any future shoes introduced after World Athletics announced significant changes to its rules on Friday.

Some variants of Nike's Vaporfly running shoes have been outlawed for elite competition and strict limits on the technology developed for any future shoes introduced after World Athletics announced significant changes to its rules on Friday. The sport's governing body (WA) said that with immediate effect and for elite competition only, road shoes must have soles no thicker than 40mm and not contain more than one rigid, embedded plate. The Vaporfly variants used by Eliud Kipchoge to run the first sub-two-hour marathon and by fellow Kenyan Brigid Kosgei to smash the women's marathon world record both contained triple carbon plates inside the thick, ultra-compressed foam, said by Nike to help improve running economy by up to four per cent. The new rules also state that, from April 30, any shoe used in elite competition must have been generally available to the public for four months - putting paid to the use by Nike and others of prototypes by their athletes in major races. There will also be new rules governing the construction of track spikes. WA's review concluded that the new technology "may provide a performance advantage and could raise concerns that it might threaten the integrity of the sport". WA will now establish an expert working group to guide future research into shoe technology and to assess new shoes that emerge on the market. Nike did not immediately respond to Reuters' request for comment on the decision. “It is not our job to regulate the entire sports shoe market but it is our duty to preserve the integrity of elite competition by ensuring that the shoes worn by elite athletes in competition do not offer any unfair assistance or advantage," WA President Sebastian Coe said in a statement. "As we enter the Olympic year, we don’t believe we can rule out shoes that have been generally available for a considerable period of time, but we can draw a line by prohibiting the use of shoes that go further than what is currently on the market while we investigate further. “I believe these new rules strike the right balance by offering certainty to athletes and manufacturers as they prepare for Tokyo 2020 while addressing the concerns that have been raised about shoe technology." 'Secret weapon' Nike unleashed the Vaporfly in 2016 and various versions have quickly come to dominate the elite and "serious recreational" side of road running. Marathon superstar Kipchoge has been the model's flagbearer, wearing them to set a world record, win the 2016 Olympic title and then go under two hours in an unofficial marathon. Kosgei ran 2:14.04 in last year's Chicago Marathon, taking 81 seconds off Briton Paula Radcliffe's 16-year-old women's marathon world record and making her almost three minutes faster than any other woman in history. Vaporflys have featured in several other records in the last three years and athletes wearing them took 31 of the 36 top-three finishes in the Marathon Majors series last year. The distinctive pink and green footwear is now widespread throughout the fields of every major race. Kipchoge and other leading athletes have welcomed the shoes as a natural technological advance, but others say they have gone too far, with Yannis Pitsiladis, a professor of sport and exercise science at Britain's Brighton University, calling them "technological doping". Nike says the shoes, which cost around $250 and have a lifespan of only around 200 miles, have "a built-in secret weapon that provides a propulsive sensation". Other manufacturers have also released, or are developing, their own carbon-insoled shoes, but WA's ruling would now appear to have put the brakes on. WA's action echoes that of swimming' s governing body, which a decade ago banned Speedo's record-smashing LZR speed suit.

World Athletics puts the brakes on Nike's record-breaking shoes

Nike's Vaporfly shoe has stirred a lot of controversy regarding its sole giving an edge to athletes in terms of energy efficiency. According to Nike, the shoes provide mind-boggling 4 per cent of energy efficiency to the contestants. Many experts accused the shoe of giving an "unfair advantage" to the runner.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/sports/vaporfly-nikes-shoes-worn-by-marathon-champions-at-risk-of-getting-banned-274923">Unfair advantage? Nike's 'Vaporfly' shoes worn by top runners risk ban</a>

Vaporfly is&nbsp;a common choice of shoes worn by marathon champions. According to The Guardian, World Athletics organization, which is the governing body for most of the international track and field event will not be imposing a ban on Vaporfly shoes.&nbsp;

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“I run to prove to any human in this universe that there are no limitations.” <a href="https://twitter.com/EliudKipchoge?ref_src=twsrc%5Etfw">@EliudKipchoge</a> 
 
A crazy dream come true — Eliud Kipchoge becomes the world’s first to run a marathon in under two hours. <a href="https://twitter.com/hashtag/justdoit?src=hash&amp;ref_src=twsrc%5Etfw">#justdoit</a> <a href="https://t.co/12mVz1wbpd">pic.twitter.com/12mVz1wbpd</a>
— Nike (@Nike) <a href="https://twitter.com/Nike/status/1182955340670947329?ref_src=twsrc%5Etfw">October 12, 2019</a></blockquote>
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The governing body formed a working group of athletes, scientists and legal experts to review the shoe and its technology. They have decided to hold the ban against the shoe, however, a temporary suspension has been placed for any fresh 'shoe technology' until the next summer Olympics which is held in Tokyo which springs on July 24. Companies will be likely to be asked to present their prototype shoes to the World Athletics committee for approval before they could be used in the competitions.

The governing body is&nbsp;yet to announce their official statement, the announcement is slated to take place on Friday.&nbsp;

Vaporfly's dominance in the athletic world is for the world to see, out of 36 positions in six world marathon majors, 31 position holders donned the Nike shoe in the year 2019.

Kenya's Eliud Kipchoge and Brigid Kosgei are one of the famous record-breaking marathon runners whose names surfaced when questions were raised regarding Vaporfly. These athletes wore the troubled Nike shoe during their record-breaking marathon.&nbsp;

Nike's Vaporfly shoe has stirred a lot of controversy regarding its sole giving an edge to athletes in terms of energy efficiency. According to Nike, the shoes provide mind-boggling 4 per cent of energy efficiency to the contestants.

Nike's Vaporfly shoe has stirred a lot of controversy regarding its sole giving an edge to athletes in terms of energy efficiency. According to Nike, the shoes provide mind-boggling 4 per cent of energy efficiency to the contestants. Many experts accused the shoe of giving an "unfair advantage" to the runner. Also read: Unfair advantage? Nike's 'Vaporfly' shoes worn by top runners risk ban Vaporfly is a common choice of shoes worn by marathon champions. According to The Guardian, World Athletics organization, which is the governing body for most of the international track and field event will not be imposing a ban on Vaporfly shoes. “I run to prove to any human in this universe that there are no limitations.” @EliudKipchoge A crazy dream come true — Eliud Kipchoge becomes the world’s first to run a marathon in under two hours. #justdoit pic.twitter.com/12mVz1wbpd — Nike (@Nike) October 12, 2019 × The governing body formed a working group of athletes, scientists and legal experts to review the shoe and its technology. They have decided to hold the ban against the shoe, however, a temporary suspension has been placed for any fresh 'shoe technology' until the next summer Olympics which is held in Tokyo which springs on July 24. Companies will be likely to be asked to present their prototype shoes to the World Athletics committee for approval before they could be used in the competitions. The governing body is yet to announce their official statement, the announcement is slated to take place on Friday. Vaporfly's dominance in the athletic world is for the world to see, out of 36 positions in six world marathon majors, 31 position holders donned the Nike shoe in the year 2019. Kenya's Eliud Kipchoge and Brigid Kosgei are one of the famous record-breaking marathon runners whose names surfaced when questions were raised regarding Vaporfly. These athletes wore the troubled Nike shoe during their record-breaking marathon.

Nike's controversial Vapor Fly to evade ban, rules on running shoes to be stringent

Nike's Vaporfly shoes are making headlines for all wrong reasons for its "unfair technology"&nbsp;that supports athletes during sprints.

Also read-&nbsp;<a href="https://www.wionews.com/business-economy/nike-shuts-down-oregon-project-after-coach-salazar-banned-255212">Nike shuts down Oregon Project after coach Alberto Salazar banned</a>

Nike said&nbsp;on its website that the shoe, which retails at around $250, has "a built-in secret weapon".

Also read-&nbsp;<a href="https://www.wionews.com/world/quitters-day-study-reveals-people-are-likely-to-give-up-on-their-new-year-resolutions-on-january-19-274753">Quitter's day! Study reveals people are likely to give up on their New Year resolutions on January 19</a>

Analysts say the debate over Nike's "Vaporfly"&nbsp;shoes gives runners an unfair technological advantage and mainly helps the world's largest athletic apparel company sell more shoes.

Independent studies have concluded that the shoes, which has&nbsp;a curved, carbon-fibre plate embedded in a thick layer of lightweight foam, improves metabolic efficiency by 4 per cent, though that does not necessarily mean a runner will be 4 per cent faster.

Nike's shoe has a 1.4-inch sole, higher the sole more the efficiency, whereas other shoes have a sole thickness of 1 inch.

A working group at governing body world athletics has been examining for months on what to do about the hyper-advanced footwear, used by elite runners including Kenya's <a href="https://www.wionews.com/.../kenyas-kipchoge-becomes-first-ever-to-run- marathon-in-under-two-hours-255461">Eliud Kipchoge</a> and Brigid Kosgei who gave stunning performances last year.

World Athletics' current rules say running shoes can't provide any "unfair assistance or advantage"&nbsp;and they should be available for all.

Laurues Award nominee Eliud Kipchoge broke the record in the Berlin Marathon in 2018. He wore the Vaporfly prototype.&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
“I run to prove to any human in this universe that there are no limitations.” <a href="https://twitter.com/EliudKipchoge?ref_src=twsrc%5Etfw">@EliudKipchoge</a> 
 
A crazy dream come true — Eliud Kipchoge becomes the world’s first to run a marathon in under two hours. <a href="https://twitter.com/hashtag/justdoit?src=hash&amp;ref_src=twsrc%5Etfw">#justdoit</a> <a href="https://t.co/12mVz1wbpd">pic.twitter.com/12mVz1wbpd</a>
— Nike (@Nike) <a href="https://twitter.com/Nike/status/1182955340670947329?ref_src=twsrc%5Etfw">October 12, 2019</a></blockquote>
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<a href="https://www.wionews.com/.../kenyas-brigid-kosgei-breaks-womens-half- marathon-world-record-248454">Brigid Kosgei</a> beat the previous record by just 81 seconds in 2019. She ran in the Chicago marathon. She was clocked at 2 hours, 14 minutes and 4 seconds. She wore the infamous Vaporfly.

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If it hasn’t been done before, it’s yours to claim. 
 
Brigid Kosgei becomes the fastest woman in history to run 26.2 miles with a time of 2:14:04. Congrats on your World Record and second consecutive victory at the Bank of America Chicago Marathon. <a href="https://twitter.com/hashtag/justdoit?src=hash&amp;ref_src=twsrc%5Etfw">#justdoit</a> <a href="https://twitter.com/hashtag/chicagomarathon?src=hash&amp;ref_src=twsrc%5Etfw">#chicagomarathon</a> <a href="https://t.co/7wQYJvCRWx">pic.twitter.com/7wQYJvCRWx</a>
— Nike (@Nike) <a href="https://twitter.com/Nike/status/1183433710881792000?ref_src=twsrc%5Etfw">October 13, 2019</a></blockquote>
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Shares in the Oregon-based firm were up 0.5 per cent, while those in rivals Under Armor and Skechers USA gained about 1.5 per cent. Japan's Asics corp. earlier closed up 2.5 per cent.

Nike's Vaporfly shoes are making headlines for all wrong reasons for its "unfair technology" that supports athletes during sprints. Also read- Nike shuts down Oregon Project after coach Alberto Salazar banned Nike said on its website that the shoe, which retails at around $250, has "a built-in secret weapon".

Nike's Vaporfly shoes are making headlines for all wrong reasons for its "unfair technology" that supports athletes during sprints. Also read- Nike shuts down Oregon Project after coach Alberto Salazar banned Nike said on its website that the shoe, which retails at around $250, has "a built-in secret weapon". Also read- Quitter's day! Study reveals people are likely to give up on their New Year resolutions on January 19 Analysts say the debate over Nike's "Vaporfly" shoes gives runners an unfair technological advantage and mainly helps the world's largest athletic apparel company sell more shoes. Independent studies have concluded that the shoes, which has a curved, carbon-fibre plate embedded in a thick layer of lightweight foam, improves metabolic efficiency by 4 per cent, though that does not necessarily mean a runner will be 4 per cent faster. Nike's shoe has a 1.4-inch sole, higher the sole more the efficiency, whereas other shoes have a sole thickness of 1 inch. A working group at governing body world athletics has been examining for months on what to do about the hyper-advanced footwear, used by elite runners including Kenya's Eliud Kipchoge and Brigid Kosgei who gave stunning performances last year. World Athletics' current rules say running shoes can't provide any "unfair assistance or advantage" and they should be available for all. Laurues Award nominee Eliud Kipchoge broke the record in the Berlin Marathon in 2018. He wore the Vaporfly prototype. “I run to prove to any human in this universe that there are no limitations.” @EliudKipchoge A crazy dream come true — Eliud Kipchoge becomes the world’s first to run a marathon in under two hours. #justdoit pic.twitter.com/12mVz1wbpd — Nike (@Nike) October 12, 2019 × Brigid Kosgei beat the previous record by just 81 seconds in 2019. She ran in the Chicago marathon. She was clocked at 2 hours, 14 minutes and 4 seconds. She wore the infamous Vaporfly. If it hasn’t been done before, it’s yours to claim. Brigid Kosgei becomes the fastest woman in history to run 26.2 miles with a time of 2:14:04. Congrats on your World Record and second consecutive victory at the Bank of America Chicago Marathon. #justdoit #chicagomarathon pic.twitter.com/7wQYJvCRWx — Nike (@Nike) October 13, 2019 × Shares in the Oregon-based firm were up 0.5 per cent, while those in rivals Under Armor and Skechers USA gained about 1.5 per cent. Japan's Asics corp. earlier closed up 2.5 per cent.

Unfair advantage? Nike's 'Vaporfly' shoes worn by top runners risk ban

<a href="https://www.wionews.com/sports/liverpool-set-for-nike-deal-after-winning-new-balance-case-258176">Nike</a> announced its new Victory Swim Collection on Wednesday which will include a Full-Coverage Swimsuit and will&nbsp;provide a game-changing option for female athletes seeking full coverage and a full range of motion in the water.&nbsp;

The Nike Victory Swim Line is slated to&nbsp;be available globally at select retailers and online from February 1, 2020,&nbsp;onwards. It will&nbsp;include swim separate options of hijab, tunic top and leggings for modest swimwear along with the full coverage swimsuit.&nbsp;

"The design of the Nike Victory Swim Collection serves a variety of needs from modesty preferences to sun protection and represents Nike's commitment to inclusive design, providing more women with game-changing innovation to enjoy sport," the company said.

Nike was inspired by athletes passionate response to the company’s ''Pro Hijab''&nbsp;in 2017 which addressed issues that female athletes faced trying to find a hijab that worked well for a particular sport in a time hijabs were not fully understood.&nbsp;

Nike designers were introduced to the striking gap in apparel for water sports with athletes commenting that swimwear presented a barrier, rather than a conduit, to enjoying the water.&nbsp;

While variations of “Burkinis” can be found in several Islamic countries and online, the attire is not appropriate for swimming as it weighs the swimmer down, a problem that Nike seems to have solved by making its new line from fabric that is lightweight, breathable and quick-drying with UPF 40+ sun protection.&nbsp;

The company said that it was inspired by Emirati figure skater Zahra Lari, the first in her sport to don the hijab in competition.&nbsp;

Nike’s Creative Director, VP, Martha Moore said that the company was excited to inspire more women to see themselves in sport through the means of creative thinking and inclusive design.&nbsp;

“The more we listened, the more possibility we saw to serve female athletes in new dimensions…As we continue broadening our vision for innovation, we’re excited to inspire more women to see themselves in sport by thinking creatively and designing inclusively. To us, Nike Victory Swim Collection shows the power of innovation to invite all women to discover the joy of sport,” said Moore in a statement.&nbsp;

Nike announced its new Victory Swim Collection on Wednesday which will include a Full-Coverage Swimsuit and will provide a game-changing option for female athletes seeking full coverage and a full range of motion in the water.

Nike announced its new Victory Swim Collection on Wednesday which will include a Full-Coverage Swimsuit and will provide a game-changing option for female athletes seeking full coverage and a full range of motion in the water. The Nike Victory Swim Line is slated to be available globally at select retailers and online from February 1, 2020, onwards. It will include swim separate options of hijab, tunic top and leggings for modest swimwear along with the full coverage swimsuit. "The design of the Nike Victory Swim Collection serves a variety of needs from modesty preferences to sun protection and represents Nike's commitment to inclusive design, providing more women with game-changing innovation to enjoy sport," the company said. Nike was inspired by athletes passionate response to the company’s ''Pro Hijab'' in 2017 which addressed issues that female athletes faced trying to find a hijab that worked well for a particular sport in a time hijabs were not fully understood. Nike designers were introduced to the striking gap in apparel for water sports with athletes commenting that swimwear presented a barrier, rather than a conduit, to enjoying the water. While variations of “Burkinis” can be found in several Islamic countries and online, the attire is not appropriate for swimming as it weighs the swimmer down, a problem that Nike seems to have solved by making its new line from fabric that is lightweight, breathable and quick-drying with UPF 40+ sun protection. The company said that it was inspired by Emirati figure skater Zahra Lari, the first in her sport to don the hijab in competition. Nike’s Creative Director, VP, Martha Moore said that the company was excited to inspire more women to see themselves in sport through the means of creative thinking and inclusive design. “The more we listened, the more possibility we saw to serve female athletes in new dimensions…As we continue broadening our vision for innovation, we’re excited to inspire more women to see themselves in sport by thinking creatively and designing inclusively. To us, Nike Victory Swim Collection shows the power of innovation to invite all women to discover the joy of sport,” said Moore in a statement.

Nike announces new swimwear collection to include ‘Swim Hijab’  

World Anti-Doping Agency (WADA) President Craig Reedie has said the organisation will look into athletes who trained under banned coach Alberto Salazar as part of the <a href="https://www.wionews.com/business-economy/nike-shuts-down-oregon-project-after-coach-salazar-banned-255212">Nike Oregon Project </a>(NOP), according to a London Times report on Tuesday.

Salazar, who counts Britain's Olympic and world champion <a href="https://www.wionews.com/sports/athletics-farah-splits-with-coach-salazar-moving-back-to-london-23172">Mo Farah</a> among the top distance runners he has coached, was last month banned for four years by the US&nbsp;Anti-Doping Agency (USADA) for doping violations.

The USADA investigation found no evidence of any wrongdoing by Salazar's athletes.

"We can look back at what testing these athletes have been subjected to over the years," Reedie told The Times. "But it will be more interesting for us if there are samples we can retest."

According to the report, USADA officials are in the process of sending all of their evidence to WADA's headquarters and The Times understands it would be willing to work alongside the global agency.

USADA chief Travis Tygart told the newspaper in a statement: "We invited WADA to be observers and what they would have seen is that we left no stone unturned. That said, we are happily compiling the evidence and sending it to them."

American Salazar, who was a celebrated distance runner, winning three consecutive New York City marathons starting in 1980, has vowed to appeal his ban.

World Anti-Doping Agency (WADA) President Craig Reedie has said the organisation will look into athletes who trained under banned coach Alberto Salazar as part of the Nike Oregon Project (NOP), according to a London Times report on Tuesday.

World Anti-Doping Agency (WADA) President Craig Reedie has said the organisation will look into athletes who trained under banned coach Alberto Salazar as part of the Nike Oregon Project (NOP), according to a London Times report on Tuesday. Salazar, who counts Britain's Olympic and world champion Mo Farah among the top distance runners he has coached, was last month banned for four years by the US Anti-Doping Agency (USADA) for doping violations. The USADA investigation found no evidence of any wrongdoing by Salazar's athletes. "We can look back at what testing these athletes have been subjected to over the years," Reedie told The Times. "But it will be more interesting for us if there are samples we can retest." According to the report, USADA officials are in the process of sending all of their evidence to WADA's headquarters and The Times understands it would be willing to work alongside the global agency. USADA chief Travis Tygart told the newspaper in a statement: "We invited WADA to be observers and what they would have seen is that we left no stone unturned. That said, we are happily compiling the evidence and sending it to them." American Salazar, who was a celebrated distance runner, winning three consecutive New York City marathons starting in 1980, has vowed to appeal his ban.

World Anti Doping Agency to investigate athletes coached by banned Salazar - Report

US&nbsp;Vice President Mike Pence on Thursday accused China of curtailing "rights and liberties" in Hong Kong and blasted US&nbsp;company Nike and the National Basketball Association for falling in line with Beijing in a disagreement over free speech.

In a major policy speech on China that touched on an array of disputes ahead of talks with Beijing to ease a trade war, Pence said the United States does not seek confrontation or to "de-couple" from its main economic rival.

But he pulled no punches when addressing some of the political rifts between the two countries.

Criticizing China's construction of a "surveillance state," and "increasingly provocative" military action, Pence held up Taiwan's Democracy as a better path for Chinese people and took Beijing to task for its handling of pro-democracy protests that have rocked Hong Kong for more than four months.

"Hong Kong is a living example of what can happen when China embraces liberty," he said. "And yet, for the last few years, Beijing has increased its interventions in Hong Kong and engaged in actions that curtail the rights and liberties that Hong Kong's people were guaranteed through a binding international agreement."

He said the United States stands with the protesters in Hong Kong, millions of whom have taken to the streets in sometimes violent clashes over what they see as China's tightening grip.

"We stand with you, we are inspired by you. We urge you to stay on the path of non-violent protest," Pence said in his address at a Washington think tank.

He also slammed China for its treatment of Muslim Uighurs in the Xinjiang region.

Pence directed some of his harshest words at sports apparel giant Nike and the NBA, which he accused of siding with China's Communist Party over freedom of speech in Hong Kong.

The vice president, who is often the face of the Trump administration's tougher policies on China, said the NBA and Nike had failed to defend basketball team Houston Rockets General Manager Daryl Morey, after he tweeted support of Hong Kong protesters earlier this month.

"Some of the NBA's biggest players and owners, who routinely exercise their freedom to criticize this country, lose their voices when it comes to the freedom and rights of other peoples," he said.

By "siding with the Chinese Communist Party and silencing free speech, the NBA is acting like a wholly-owned subsidiary of the authoritarian regime," Pence said.

Nike stores in China removed Rockets merchandise after Beijing criticized Morey, Pence noted.

"Nike promotes itself as a so-called social-justice champion, but when it comes to Hong Kong, it prefers checking its social conscience at the door," he said.

Pence said "far too many American multinational corporations have kowtowed to the lure of China's money and markets by muzzling not only criticism of the Chinese Communist Party, but even affirmative expressions of American values."

Nike, the NBA and the Chinese Embassy in Washington did not immediately respond to requests for comment about the remarks.

Influential Chinese state-backed newspaper the Global Times, however, said in an editorial that while Pence reiterated many of his previous criticisms, there was still "room for optimism."

"He emphasized the US&nbsp;does not want to 'decouple' and repeated how US&nbsp;President Donald Trump is willing to start a new future with China," it said.

Trade talks

The closely watched speech set a discordant tone just weeks before a summit in Chile where US&nbsp;President Donald Trump hopes to finalize a partial trade deal with China's Xi Jinping.

The S&amp;P 500 US&nbsp;stock index briefly moved lower after his comments.

Analysts said Pence's speech appeared aimed at keeping the way open for a trade deal while seeking to convince Trump's support base that he was tough on China going into the 2020 election.

Douglas Paal, a China expert with Washington's Carnegie Endowment for International Peace, called it "a superficial and political speech, not a guiding strategic document."

Scott Kennedy, of the Center for Strategic and International Studies, saw it as a bid to provide a rationale for "policy moves on security, economics and politics which originally were much less coordinated and less integrated."

A new round of talks between Treasury Secretary Steven Mnuchin and Chinese officials to try to end the bruising trade dispute is set for Friday.

The United States launched a trade war with China 15 months ago, alleging unfair trading practices such as theft of US&nbsp;intellectual property and generous industrial subsidies at the expense of foreign competitors.

Fears of antagonizing Beijing had prompted the White House to postpone Pence's speech, which was originally scheduled for June, ahead of a meeting Trump and Xi aimed at getting trade talks back on track.

Many China watchers had expected Pence to tread lightly on sensitive topics on Thursday, in sharp contrast to the bombastic tone of his first major China policy address a year ago. But some saw signs of a rapprochement as well.

"In contrast to the Hudson Institute speech of October 2018, the Vice President's equally hard-hitting Wilson speech offered the beginnings of a positive vision for US-China relations," said Robert Daly of the Kissinger Institute on China.

Pence said the United States was "not seeking to contain China's development." "We want a constructive relationship with China's leaders," he said, calling on Beijing to "seize this unique moment in history to start anew by ending the trade practices that have taken advantage of the American people for far too long."

US Vice President Mike Pence on Thursday accused China of curtailing "rights and liberties" in Hong Kong and blasted US company Nike and the National Basketball Association for falling in line with Beijing in a disagreement over free speech.

US Vice President Mike Pence on Thursday accused China of curtailing "rights and liberties" in Hong Kong and blasted US company Nike and the National Basketball Association for falling in line with Beijing in a disagreement over free speech. In a major policy speech on China that touched on an array of disputes ahead of talks with Beijing to ease a trade war, Pence said the United States does not seek confrontation or to "de-couple" from its main economic rival. But he pulled no punches when addressing some of the political rifts between the two countries. Criticizing China's construction of a "surveillance state," and "increasingly provocative" military action, Pence held up Taiwan's Democracy as a better path for Chinese people and took Beijing to task for its handling of pro-democracy protests that have rocked Hong Kong for more than four months. "Hong Kong is a living example of what can happen when China embraces liberty," he said. "And yet, for the last few years, Beijing has increased its interventions in Hong Kong and engaged in actions that curtail the rights and liberties that Hong Kong's people were guaranteed through a binding international agreement." He said the United States stands with the protesters in Hong Kong, millions of whom have taken to the streets in sometimes violent clashes over what they see as China's tightening grip. "We stand with you, we are inspired by you. We urge you to stay on the path of non-violent protest," Pence said in his address at a Washington think tank. He also slammed China for its treatment of Muslim Uighurs in the Xinjiang region. Pence directed some of his harshest words at sports apparel giant Nike and the NBA, which he accused of siding with China's Communist Party over freedom of speech in Hong Kong. The vice president, who is often the face of the Trump administration's tougher policies on China, said the NBA and Nike had failed to defend basketball team Houston Rockets General Manager Daryl Morey, after he tweeted support of Hong Kong protesters earlier this month. "Some of the NBA's biggest players and owners, who routinely exercise their freedom to criticize this country, lose their voices when it comes to the freedom and rights of other peoples," he said. By "siding with the Chinese Communist Party and silencing free speech, the NBA is acting like a wholly-owned subsidiary of the authoritarian regime," Pence said. Nike stores in China removed Rockets merchandise after Beijing criticized Morey, Pence noted. "Nike promotes itself as a so-called social-justice champion, but when it comes to Hong Kong, it prefers checking its social conscience at the door," he said. Pence said "far too many American multinational corporations have kowtowed to the lure of China's money and markets by muzzling not only criticism of the Chinese Communist Party, but even affirmative expressions of American values." Nike, the NBA and the Chinese Embassy in Washington did not immediately respond to requests for comment about the remarks. Influential Chinese state-backed newspaper the Global Times, however, said in an editorial that while Pence reiterated many of his previous criticisms, there was still "room for optimism." "He emphasized the US does not want to 'decouple' and repeated how US President Donald Trump is willing to start a new future with China," it said. Trade talks The closely watched speech set a discordant tone just weeks before a summit in Chile where US President Donald Trump hopes to finalize a partial trade deal with China's Xi Jinping. The S&P 500 US stock index briefly moved lower after his comments. Analysts said Pence's speech appeared aimed at keeping the way open for a trade deal while seeking to convince Trump's support base that he was tough on China going into the 2020 election. Douglas Paal, a China expert with Washington's Carnegie Endowment for International Peace, called it "a superficial and political speech, not a guiding strategic document." Scott Kennedy, of the Center for Strategic and International Studies, saw it as a bid to provide a rationale for "policy moves on security, economics and politics which originally were much less coordinated and less integrated." A new round of talks between Treasury Secretary Steven Mnuchin and Chinese officials to try to end the bruising trade dispute is set for Friday. The United States launched a trade war with China 15 months ago, alleging unfair trading practices such as theft of US intellectual property and generous industrial subsidies at the expense of foreign competitors. Fears of antagonizing Beijing had prompted the White House to postpone Pence's speech, which was originally scheduled for June, ahead of a meeting Trump and Xi aimed at getting trade talks back on track. Many China watchers had expected Pence to tread lightly on sensitive topics on Thursday, in sharp contrast to the bombastic tone of his first major China policy address a year ago. But some saw signs of a rapprochement as well. "In contrast to the Hudson Institute speech of October 2018, the Vice President's equally hard-hitting Wilson speech offered the beginnings of a positive vision for US-China relations," said Robert Daly of the Kissinger Institute on China. Pence said the United States was "not seeking to contain China's development." "We want a constructive relationship with China's leaders," he said, calling on Beijing to "seize this unique moment in history to start anew by ending the trade practices that have taken advantage of the American people for far too long."

Pence backs Hong Kong protests in China speech, slams NBA and Nike

Liverpool won a court battle with shirt manufacturers New Balance on Friday, paving the way to sign a lucrative new deal with Nike from the 2020/2021 season.

A judge ruled in favour of the European champions' case that New Balance could not match Nike's enormous distribution network and promise to market Liverpool via "superstar athletes and influencers" such as LeBron James, Serena Williams and Canadian rapper Drake.

New Balance claimed to have triggered a clause in the current deal which would allow them to maintain the contract for another five years come June 1, 2020, if it matched the terms of any competitor's offer.

Nike's £30 million-a-year offer for the next five years falls short of the reported £40 million New Balance currently pay per season.

However, Liverpool will also earn royalties of 20 per cent on all net sales of merchandise barring footwear plus bonuses for winning the Champions League and Premier League.

According to a report in The Athletic, Liverpool hopes to bank £60-£70 million in total per year from the Nike deal.

Mr Justice Teare found that "the New Balance offer on marketing was less favourable to Liverpool FC than the Nike offer" as the company could not match Nike's offer to use "global superstar athletes".

"It must follow that Liverpool FC is not obliged to enter into a new agreement with New Balance," the judge said.

In a statement, a Liverpool spokesman said: "Liverpool FC is pleased with the judge's decision to rule in favour of the club following the legal dispute with our current kit supplier, New Balance.

"We will continue with New Balance for the current season, in combination with preparing next season's Liverpool kits with our new supplier."

&nbsp;

Liverpool won a court battle with shirt manufacturers New Balance on Friday, paving the way to sign a lucrative new deal with Nike from the 2020/2021 season. A judge ruled in favour of the European champions' case that New Balance could not match Nike's enormous distribution network and promise to market Liverpool via "superstar athletes and influencers" such as LeBron James, Serena Williams and Canadian rapper Drake.

Liverpool won a court battle with shirt manufacturers New Balance on Friday, paving the way to sign a lucrative new deal with Nike from the 2020/2021 season. A judge ruled in favour of the European champions' case that New Balance could not match Nike's enormous distribution network and promise to market Liverpool via "superstar athletes and influencers" such as LeBron James, Serena Williams and Canadian rapper Drake. New Balance claimed to have triggered a clause in the current deal which would allow them to maintain the contract for another five years come June 1, 2020, if it matched the terms of any competitor's offer. Nike's £30 million-a-year offer for the next five years falls short of the reported £40 million New Balance currently pay per season. However, Liverpool will also earn royalties of 20 per cent on all net sales of merchandise barring footwear plus bonuses for winning the Champions League and Premier League. According to a report in The Athletic, Liverpool hopes to bank £60-£70 million in total per year from the Nike deal. Mr Justice Teare found that "the New Balance offer on marketing was less favourable to Liverpool FC than the Nike offer" as the company could not match Nike's offer to use "global superstar athletes". "It must follow that Liverpool FC is not obliged to enter into a new agreement with New Balance," the judge said. In a statement, a Liverpool spokesman said: "Liverpool FC is pleased with the judge's decision to rule in favour of the club following the legal dispute with our current kit supplier, New Balance. "We will continue with New Balance for the current season, in combination with preparing next season's Liverpool kits with our new supplier."

Liverpool set for Nike deal after winning New Balance case

Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker's online strategy.

Donahoe, who has been on Nike's board since 2014, will join the sneaker maker from cloud computing firm ServiceNow Inc, where he was CEO for more than four years. Prior to that, he led online retailer eBay for the seven years through 2015.

Nike's Parker had said last year he would remain CEO and chairman of the footwear maker beyond 2020, with his remarks coming in the midst of a series of executive departures and probes on workplace complaints.

The move comes days after the world's biggest footwear maker shut down its Nike Oregon Project training group, following the recent four-year ban of the centre's founder and coach Alberto Salazar by the US&nbsp;Anti-Doping Agency (USADA).

Nike did not give any reason for Parker's exit from the top job. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues.

Parker joined Nike as one of its first footwear designers in 1979 and held several roles during his tenure at the company before taking charge as its top boss in 2006.

Credited with creating the popular Nike Air sneakers as well as other pioneering products, Parker, in the past few years, oversaw Nike's shift to selling directly to customers online and its success in international markets, particularly China.

He will become Nike's executive chairman and continue to lead the board after Donahoe takes over as CEO.

"We like that (Donahoe) comes from technology and that he comes from the digital space and we like that he is a strategist and a leader ... things that have made Nike positive have been because of those sort of strengths," Jane Hali &amp; Associates analyst Jessica Ramirez said.

Nike's digital revenue surged 35% in the last fiscal year, with the company expecting online sales to account for about a third of its business by 2023.

Edward Jones analyst Brian Yarbrough said Donahoe's e-commerce experience could help with Nike's online push, while Parker could focus more on product development, one of his key strengths.

Hits and misses

During Parker's tenure, Nike's stock surged more than nine-folds. They were marginally higher in extended trading on Tuesday.

Over the past year, however, Parker faced a number of speedbumps as he chased his target of $50 billion in annual sales. He apologised to staff last year after a series of workplace complaints at the company.

Nike also came under fire for featuring an ad with former NFL player Colin Kaepernick, who sparked a national controversy by kneeling during the national anthem.

"Nike has had their fair share of scandals and issues ... and they didn't really go out and look externally. It definitely seems like it could be part of" the Oregon scandal, Yarbrough said, referring to Parker's departure.

Separately, ServiceNow said it appointed Bill McDermott as its CEO. McDermott helmed software maker SAP from 2014 until recently. ServiceNow shares fell about 16% on the news.

McDermott stood down earlier this month after a decade building up SAP as the world's leading enterprise software company, handing the task of completing its transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein.

Earlier in the day, Nike rival Under Armour Inc said its founder and CEO Kevin Plank would step down, giving his responsibilities to Patrik Frisk, a company insider, hoping a change in leadership will help battle brutal competition from Nike and Adidas in the United States.

Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker's online strategy.

Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker's online strategy. Donahoe, who has been on Nike's board since 2014, will join the sneaker maker from cloud computing firm ServiceNow Inc, where he was CEO for more than four years. Prior to that, he led online retailer eBay for the seven years through 2015. Nike's Parker had said last year he would remain CEO and chairman of the footwear maker beyond 2020, with his remarks coming in the midst of a series of executive departures and probes on workplace complaints. The move comes days after the world's biggest footwear maker shut down its Nike Oregon Project training group, following the recent four-year ban of the centre's founder and coach Alberto Salazar by the US Anti-Doping Agency (USADA). Nike did not give any reason for Parker's exit from the top job. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues. Parker joined Nike as one of its first footwear designers in 1979 and held several roles during his tenure at the company before taking charge as its top boss in 2006. Credited with creating the popular Nike Air sneakers as well as other pioneering products, Parker, in the past few years, oversaw Nike's shift to selling directly to customers online and its success in international markets, particularly China. He will become Nike's executive chairman and continue to lead the board after Donahoe takes over as CEO. "We like that (Donahoe) comes from technology and that he comes from the digital space and we like that he is a strategist and a leader ... things that have made Nike positive have been because of those sort of strengths," Jane Hali & Associates analyst Jessica Ramirez said. Nike's digital revenue surged 35% in the last fiscal year, with the company expecting online sales to account for about a third of its business by 2023. Edward Jones analyst Brian Yarbrough said Donahoe's e-commerce experience could help with Nike's online push, while Parker could focus more on product development, one of his key strengths. Hits and misses During Parker's tenure, Nike's stock surged more than nine-folds. They were marginally higher in extended trading on Tuesday. Over the past year, however, Parker faced a number of speedbumps as he chased his target of $50 billion in annual sales. He apologised to staff last year after a series of workplace complaints at the company. Nike also came under fire for featuring an ad with former NFL player Colin Kaepernick, who sparked a national controversy by kneeling during the national anthem. "Nike has had their fair share of scandals and issues ... and they didn't really go out and look externally. It definitely seems like it could be part of" the Oregon scandal, Yarbrough said, referring to Parker's departure. Separately, ServiceNow said it appointed Bill McDermott as its CEO. McDermott helmed software maker SAP from 2014 until recently. ServiceNow shares fell about 16% on the news. McDermott stood down earlier this month after a decade building up SAP as the world's leading enterprise software company, handing the task of completing its transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein. Earlier in the day, Nike rival Under Armour Inc said its founder and CEO Kevin Plank would step down, giving his responsibilities to Patrik Frisk, a company insider, hoping a change in leadership will help battle brutal competition from Nike and Adidas in the United States.

Nike's Parker hands over CEO role to former eBay chief

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping.

Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations.

The US sportswear giant had initially backed Salazar's plans to appeal against the decision after the 61-year-old Cuban-born American denied the allegations.

But in a memo to staff, Nike CEO Mark Parker said the project was being terminated because of the scandal.

"This situation, along with ongoing unsubstantiated assertions, is a distraction for many of the athletes and is compromising their ability to focus on their training and competition needs," Parker said.

"I have therefore made the decision to wind down the Oregon Project."

Parker said however that Nike would still support Salazar in his appeal.

"A four-year suspension for someone who acted in good faith is wrong," said Parker in the memo, adding that "the panel found there was no orchestrated doping, no finding that performance-enhancing drugs have ever been used on Oregon Project athletes and went out of its way to note Alberto’s desire to follow all rules".

However, he admitted that "Alberto can no longer coach while the appeal is pending".

Athletes from the Oregon Project won three gold medals at the World Athletics Championships this month. Sifan Hassan of the Netherlands won the women's 1500 metres and 10,000 while Donavan Brazier of the US took the men's 800m gold. There is no suggestion either athlete has been involved in doping.

Nike's decision to shut down the project came after athletes including US runner Kara Goucher, who was coached by Salazar from 2004 to 2011 and provided key evidence in the case against him, told the BBC Nike could not justify keeping it open.

"It (NOP) has to go," Goucher said.

"If I was Nike I'd be bringing in some new coaches and move on from this Oregon Project because clearly it had principles, not in line with clean sport and we have to just start over."

Jeffrey Brown, a Texas endocrinologist who treated many of Salazar's athletes at the Oregon training hub in Portland, was also suspended for four years.

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping. Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations.

Nike said on Friday it plans to shut down its Oregon Project training group after top athletics coach Alberto Salazar was banned for four years for doping. Salazar, best known for coaching Britain's four-time Olympic champion Mo Farah, was last week handed a four-year suspension by the United States Anti-Doping Agency (USADA) for a catalogue of drug violations. The US sportswear giant had initially backed Salazar's plans to appeal against the decision after the 61-year-old Cuban-born American denied the allegations. But in a memo to staff, Nike CEO Mark Parker said the project was being terminated because of the scandal. "This situation, along with ongoing unsubstantiated assertions, is a distraction for many of the athletes and is compromising their ability to focus on their training and competition needs," Parker said. "I have therefore made the decision to wind down the Oregon Project." Parker said however that Nike would still support Salazar in his appeal. "A four-year suspension for someone who acted in good faith is wrong," said Parker in the memo, adding that "the panel found there was no orchestrated doping, no finding that performance-enhancing drugs have ever been used on Oregon Project athletes and went out of its way to note Alberto’s desire to follow all rules". However, he admitted that "Alberto can no longer coach while the appeal is pending". Athletes from the Oregon Project won three gold medals at the World Athletics Championships this month. Sifan Hassan of the Netherlands won the women's 1500 metres and 10,000 while Donavan Brazier of the US took the men's 800m gold. There is no suggestion either athlete has been involved in doping. Nike's decision to shut down the project came after athletes including US runner Kara Goucher, who was coached by Salazar from 2004 to 2011 and provided key evidence in the case against him, told the BBC Nike could not justify keeping it open. "It (NOP) has to go," Goucher said. "If I was Nike I'd be bringing in some new coaches and move on from this Oregon Project because clearly it had principles, not in line with clean sport and we have to just start over." Jeffrey Brown, a Texas endocrinologist who treated many of Salazar's athletes at the Oregon training hub in Portland, was also suspended for four years.

Nike shuts down Oregon Project after coach Alberto Salazar banned

A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction.

The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York.

Sotheby's said the price was a world auction record for a pair of sneakers. The buyer was Canadian investor and car collector Miles Nadal, who had previously paid $850,000 for 99 other pairs of rare or limited collection sneakers offered by Sotheby's.

The highest previous price fetched at public auction for sneakers was $190,373 in California in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final, Sotheby's said.

Sotheby's, better known for selling artworks fetching tens of millions of dollars, teamed up with streetwear marketplace Stadium Goods to auction 100 pairs of the rarest sneakers ever produced in a venture that reflects their fast-growing status as collectables.

The handmade "Moon Shoe," with a waffle sole pattern, was one of only 12 pairs ever made and the pair that were auctioned on Tuesday are the only ones known to exist in an unworn condition, Sotheby's said.

Nadal, the founder of investment firm Peerage Capital, said in a statement he was thrilled at his purchase, calling the "Moon Shoe" a "true historical artefact in sports history and pop culture."

"I think sneaker culture and collecting is on the verge of a breakout moment," he added, saying he plans to display them, along with the other 99 pairs he acquired in a private sale last week, at his private automobile museum in Toronto.

Nadal's haul included 2011 and 2016 versions of the "Back to the Future Part II" limited-edition shoes by Nike that were inspired by the 1989 film starring Michael J. Fox, and limited-edition sneakers produced by Adidas, Air Jordan and rapper Kanye West's Yeezy collection.

Noah Wunsch, global head of eCommerce at Sotheby's, said the sneaker auction brought together art, culture and fashion.

"We are eager to see where this sale takes us, not only in future sneaker offerings but also in other new luxury lifestyle areas," Wunsch said.

A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction.

A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction. The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York. Sotheby's said the price was a world auction record for a pair of sneakers. The buyer was Canadian investor and car collector Miles Nadal, who had previously paid $850,000 for 99 other pairs of rare or limited collection sneakers offered by Sotheby's. The highest previous price fetched at public auction for sneakers was $190,373 in California in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final, Sotheby's said. Sotheby's, better known for selling artworks fetching tens of millions of dollars, teamed up with streetwear marketplace Stadium Goods to auction 100 pairs of the rarest sneakers ever produced in a venture that reflects their fast-growing status as collectables. The handmade "Moon Shoe," with a waffle sole pattern, was one of only 12 pairs ever made and the pair that were auctioned on Tuesday are the only ones known to exist in an unworn condition, Sotheby's said. Nadal, the founder of investment firm Peerage Capital, said in a statement he was thrilled at his purchase, calling the "Moon Shoe" a "true historical artefact in sports history and pop culture." "I think sneaker culture and collecting is on the verge of a breakout moment," he added, saying he plans to display them, along with the other 99 pairs he acquired in a private sale last week, at his private automobile museum in Toronto. Nadal's haul included 2011 and 2016 versions of the "Back to the Future Part II" limited-edition shoes by Nike that were inspired by the 1989 film starring Michael J. Fox, and limited-edition sneakers produced by Adidas, Air Jordan and rapper Kanye West's Yeezy collection. Noah Wunsch, global head of eCommerce at Sotheby's, said the sneaker auction brought together art, culture and fashion. "We are eager to see where this sale takes us, not only in future sneaker offerings but also in other new luxury lifestyle areas," Wunsch said.

Nike shoes race to $437,500 world record auction price for sneakers

The medals for the Tokyo 2020 Olympics were unveiled on Wednesday with exactly one year to go until next year's Games.

The unveiling of the medals, designed by Junichi Kawanishi, was the main attraction of an extravagant ceremony in the Japanese capital to commemorate the landmark.

The event was attended by International Olympic Committee President Thomas Bach and Japanese Prime Minister Shinzo Abe.

The medals, which are 85 millimetres in diameter, feature Greek goddess of victory Nike in their design along with the Olympic symbol and are made from recycled metals, collected from 6.21 million electronic devices donated across Japan.

Abe said he hoped next year's Games would have a similar impact as the 1964 Summer Games held in Tokyo.

"Sports brings the world together and it affords equal opportunities to all. That is what sports are about," said Abe. "Fifty-five years ago we learned that when we hosted it in Tokyo before.

"Next year we want to demonstrate that again and we want this to be an opportunity where we can do that."

Bach reiterated that Tokyo is the best-prepared city he has ever seen ahead of an Olympic Games.

"It will be a wonderful and unique moment for our gracious Japanese hosts. For you to show the world the best of Japan," added Bach.

Organisers believe they are on track to deliver a world-class sporting event next year and with 3.22 million tickets already sold and over 200,000 people applying to be volunteers, engagement in Japan is unprecedented.

The only reminder of the issues in the build-up to the Games on Wednesday was the presence of new Japanese Olympic Committee (JOC) President Yasuhiro Yamashita on stage with Bach and Abe.

Yamashita took over at the JOC last month, following the resignation of Tsunekazu Takeda, who is being investigated for suspected corruption related to the Tokyo 2020 bid.

The medals for the Tokyo 2020 Olympics were unveiled on Wednesday with exactly one year to go until next year's Games. The unveiling of the medals, designed by Junichi Kawanishi, was the main attraction of an extravagant ceremony in the Japanese capital to commemorate the landmark.

The medals for the Tokyo 2020 Olympics were unveiled on Wednesday with exactly one year to go until next year's Games. The unveiling of the medals, designed by Junichi Kawanishi, was the main attraction of an extravagant ceremony in the Japanese capital to commemorate the landmark. The event was attended by International Olympic Committee President Thomas Bach and Japanese Prime Minister Shinzo Abe. The medals, which are 85 millimetres in diameter, feature Greek goddess of victory Nike in their design along with the Olympic symbol and are made from recycled metals, collected from 6.21 million electronic devices donated across Japan. Abe said he hoped next year's Games would have a similar impact as the 1964 Summer Games held in Tokyo. "Sports brings the world together and it affords equal opportunities to all. That is what sports are about," said Abe. "Fifty-five years ago we learned that when we hosted it in Tokyo before. "Next year we want to demonstrate that again and we want this to be an opportunity where we can do that." Bach reiterated that Tokyo is the best-prepared city he has ever seen ahead of an Olympic Games. "It will be a wonderful and unique moment for our gracious Japanese hosts. For you to show the world the best of Japan," added Bach. Organisers believe they are on track to deliver a world-class sporting event next year and with 3.22 million tickets already sold and over 200,000 people applying to be volunteers, engagement in Japan is unprecedented. The only reminder of the issues in the build-up to the Games on Wednesday was the presence of new Japanese Olympic Committee (JOC) President Yasuhiro Yamashita on stage with Bach and Abe. Yamashita took over at the JOC last month, following the resignation of Tsunekazu Takeda, who is being investigated for suspected corruption related to the Tokyo 2020 bid.

Tokyo Olympics 2020 medals unveiled a year before Games

Nike said Tuesday it had withdrawn a shoe displaying an early version of the American flag, with US media reporting the decision came after former NFL quarterback Colin Kaepernick warned the design was associated with slavery.

Nike had unveiled the Air Max 1 USA featuring an American Revolution-era design known as the Betsy Ross flag imprinted on its heel to coincide with the United States's July 4 Independence Day.

Nike "made the decision to halt distribution of the Air Max 1 Quick Strike Fourth of July based on concerns that it could unintentionally offend and detract from the nation's patriotic holiday," the company said in a statement.

"We regularly make business decisions to withdraw initiatives, products and services," the company said.

But The Wall Street Journal reported the US sportswear giant pulled the shoe following objections from Kaepernick, a Nike endorser who led kneeling protests during the national anthems of NFL games in 2016 to protest racial inequality and social injustice.

Kaepernick's protests gained national attention and drew repeated criticism from President Donald Trump, who urged NFL owners to fire players who knelt during the anthem.

Kaepernick said the design featuring 13 white stars in a circle was offensive because it was associated with a period of slavery, which was legal in the US after independence from Britain.

White supremacist groups hostile to diversity have also recently appropriated the design, the newspaper said.

Nike shipped the shoes to retailers but then asked for them back, and has taken the design off its website, the Journal reported.

US Senator Ted Cruz said on Twitter that because of the decision to pull the shoes, his days as a Nike customer were over.

"Yep, I own lots of @Nike I've been a life-long customer, since I was kid. But they've now decided their shoes represent snide disdain for the American flag," the Republican politician tweeted.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
I love America. I stand for the anthem, respect the flag &amp; honor the men &amp; women who fought to defend our Nation. I respect Free Speech &amp; I’m exerting mine: until <a href="https://twitter.com/Nike?ref_src=twsrc%5Etfw">@Nike</a> ends its contempt for those values, I WILL NO LONGER PURCHASE NIKE PRODUCTS. <a href="https://twitter.com/hashtag/WalkAwayFromNike?src=hash&amp;ref_src=twsrc%5Etfw">#WalkAwayFromNike</a> RT if you agree. <a href="https://t.co/IvXNTgvlHq">https://t.co/IvXNTgvlHq</a>
— Ted Cruz (@tedcruz) <a href="https://twitter.com/tedcruz/status/1146096648445145089?ref_src=twsrc%5Etfw">July 2, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"Since they don't want my business anymore, I won't buy any more," he wrote.

The price of a few pairs available on an online shoe reseller rose to as much as $2,000 following the publication of the Journal's article, the newspaper said.

Kaepernick and former San Francisco 49ers safety Eric Reid settled collusion lawsuits against the NFL earlier this year for a reported amount of less than $10 million over claims team owners had plotted to keep them from playing.

Nike said Tuesday it had withdrawn a shoe displaying an early version of the American flag, with US media reporting the decision came after former NFL quarterback Colin Kaepernick warned the design was associated with slavery.

Nike said Tuesday it had withdrawn a shoe displaying an early version of the American flag, with US media reporting the decision came after former NFL quarterback Colin Kaepernick warned the design was associated with slavery. Nike had unveiled the Air Max 1 USA featuring an American Revolution-era design known as the Betsy Ross flag imprinted on its heel to coincide with the United States's July 4 Independence Day. Nike "made the decision to halt distribution of the Air Max 1 Quick Strike Fourth of July based on concerns that it could unintentionally offend and detract from the nation's patriotic holiday," the company said in a statement. "We regularly make business decisions to withdraw initiatives, products and services," the company said. But The Wall Street Journal reported the US sportswear giant pulled the shoe following objections from Kaepernick, a Nike endorser who led kneeling protests during the national anthems of NFL games in 2016 to protest racial inequality and social injustice. Kaepernick's protests gained national attention and drew repeated criticism from President Donald Trump, who urged NFL owners to fire players who knelt during the anthem. Kaepernick said the design featuring 13 white stars in a circle was offensive because it was associated with a period of slavery, which was legal in the US after independence from Britain. White supremacist groups hostile to diversity have also recently appropriated the design, the newspaper said. Nike shipped the shoes to retailers but then asked for them back, and has taken the design off its website, the Journal reported. US Senator Ted Cruz said on Twitter that because of the decision to pull the shoes, his days as a Nike customer were over. "Yep, I own lots of @Nike I've been a life-long customer, since I was kid. But they've now decided their shoes represent snide disdain for the American flag," the Republican politician tweeted. I love America. I stand for the anthem, respect the flag & honor the men & women who fought to defend our Nation. I respect Free Speech & I’m exerting mine: until @Nike ends its contempt for those values, I WILL NO LONGER PURCHASE NIKE PRODUCTS. #WalkAwayFromNike RT if you agree. https://t.co/IvXNTgvlHq — Ted Cruz (@tedcruz) July 2, 2019 × "Since they don't want my business anymore, I won't buy any more," he wrote. The price of a few pairs available on an online shoe reseller rose to as much as $2,000 following the publication of the Journal's article, the newspaper said. Kaepernick and former San Francisco 49ers safety Eric Reid settled collusion lawsuits against the NFL earlier this year for a reported amount of less than $10 million over claims team owners had plotted to keep them from playing.

Nike pulls US sneaker featuring slavery-era Betsy Ross flag after Kaepernick's warning

Nike Inc is "very concerned" about a rape accusation against <a href="https://www.wionews.com/sports/brazils-neymar-records-statement-at-rio-police-station-over-rape-accusation-225168">Brazilian soccer star </a>Neymar, the world's largest sportswear maker said on Thursday, raising questions about its sponsorship of one of the sport's most famous players.

Nike issued a statement a day after a woman said in an interview with Brazilian SBT TV that Neymar had raped her in a Paris hotel last month. Neymar denied the allegation in an Instagram post and has said the woman was trying to extort him.

"We are very concerned by the <a href="https://www.wionews.com/sports/brazils-neymar-out-of-copa-america-after-tearing-ankle-ligament-224880">recent allegations</a> and will continue to closely monitor the situation," Nike said when asked about the accusation against Neymar, who plays his club soccer with French champions Paris Saint-Germain.

A press representative for Neymar declined to comment on his sponsorships.

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Neymar's lawyer Maira Fernandes, speaking to journalists in Rio de Janeiro on Thursday, did not address his sponsorship deals. She said her client was innocent of the allegation made against him.

A press representative for Mastercard in Brazil confirmed that the company had planned an advertising campaign to coincide with this month's Copa America tournament but she did not confirm reports in Brazil's three biggest newspapers that Mastercard had decided to suspend Neymar's featuring in it.

US press representatives for Mastercard did not reply to requests for comment.

Brazilian airline Gol Linhas Aereas Inteligentes SA, which featured Neymar in the run-up to the 2018 World Cup, said it was a sponsor of the national team but not individual players. A press representative declined to comment on the accusation against Neymar.

McDonald's Corp and Procter &amp; Gamble Co's Gillette brand, which both featured Neymar prominently in ad campaigns last year, said they had no current contract with him.

Police report

A police report showed that a woman had accused Neymar, 27, of raping her at a Paris hotel last month. Sao Paulo police are investigating the accusation. According to the police report, she told investigators that she met Neymar on Instagram. Neymar suggested they meet in person in Paris and he paid for her flight and her hotel room, the report said.

After media reports on the allegation, Neymar posted a video on Instagram, in which he denied the accusations, said he was a victim of extortion and shared messages he exchanged with the woman, including racy photos he had received.

That led police in Rio de Janeiro to open an investigation into whether Neymar had committed a crime by posting those intimate pictures online.

Neymar's lawyer Fernandes said that Neymar had already spoken with police investigating the cybercrime, but had not yet arranged a time to go to Sao Paulo to speak with police about the rape accusation, but was committed to doing so.

On Wednesday night the woman, Najila de Souza, gave her first on-camera interview since her accusation became public.

"I was a victim of rape," de Souza told SBT TV.

Some of Neymar's teammates have come out in support of him, but national team coach Tite told journalists on Monday that he did not want to pass judgment on the matter.

The Brazilian Football Confederation said on Thursday that Neymar would be dropped from the Brazil team for the Copa America because of an ankle injury suffered in a friendly match against Qatar.

Nike Inc is "very concerned" about a rape accusation against Brazilian soccer star Neymar, the world's largest sportswear maker said on Thursday, raising questions about its sponsorship of one of the sport's most famous players.

Nike Inc is "very concerned" about a rape accusation against Brazilian soccer star Neymar, the world's largest sportswear maker said on Thursday, raising questions about its sponsorship of one of the sport's most famous players. Nike issued a statement a day after a woman said in an interview with Brazilian SBT TV that Neymar had raped her in a Paris hotel last month. Neymar denied the allegation in an Instagram post and has said the woman was trying to extort him. "We are very concerned by the recent allegations and will continue to closely monitor the situation," Nike said when asked about the accusation against Neymar, who plays his club soccer with French champions Paris Saint-Germain. A press representative for Neymar declined to comment on his sponsorships. × Neymar's lawyer Maira Fernandes, speaking to journalists in Rio de Janeiro on Thursday, did not address his sponsorship deals. She said her client was innocent of the allegation made against him. A press representative for Mastercard in Brazil confirmed that the company had planned an advertising campaign to coincide with this month's Copa America tournament but she did not confirm reports in Brazil's three biggest newspapers that Mastercard had decided to suspend Neymar's featuring in it. US press representatives for Mastercard did not reply to requests for comment. Brazilian airline Gol Linhas Aereas Inteligentes SA, which featured Neymar in the run-up to the 2018 World Cup, said it was a sponsor of the national team but not individual players. A press representative declined to comment on the accusation against Neymar. McDonald's Corp and Procter & Gamble Co's Gillette brand, which both featured Neymar prominently in ad campaigns last year, said they had no current contract with him. Police report A police report showed that a woman had accused Neymar, 27, of raping her at a Paris hotel last month. Sao Paulo police are investigating the accusation. According to the police report, she told investigators that she met Neymar on Instagram. Neymar suggested they meet in person in Paris and he paid for her flight and her hotel room, the report said. After media reports on the allegation, Neymar posted a video on Instagram, in which he denied the accusations, said he was a victim of extortion and shared messages he exchanged with the woman, including racy photos he had received. That led police in Rio de Janeiro to open an investigation into whether Neymar had committed a crime by posting those intimate pictures online. Neymar's lawyer Fernandes said that Neymar had already spoken with police investigating the cybercrime, but had not yet arranged a time to go to Sao Paulo to speak with police about the rape accusation, but was committed to doing so. On Wednesday night the woman, Najila de Souza, gave her first on-camera interview since her accusation became public. "I was a victim of rape," de Souza told SBT TV. Some of Neymar's teammates have come out in support of him, but national team coach Tite told journalists on Monday that he did not want to pass judgment on the matter. The Brazilian Football Confederation said on Thursday that Neymar would be dropped from the Brazil team for the Copa America because of an ankle injury suffered in a friendly match against Qatar.

Nike 'very concerned' about rape accusation against Brazilian football star Neymar

Former world number one Serena Williams entered the second round of French Open after she recovered from a poor first set to win 2-6, 6-1, 6-0 on Monday.&nbsp;

More than her performance, <a href="https://www.wionews.com/sports/serena-williams-reveals-reason-of-wearing-superhero-like-black-catsuit-140967">Serena's dress made headlines</a> at the Roland Garros as she chose a bold outfit for her first-round match against Russia’s Vitalia Diatchenko.&nbsp;

Serena wore the Nike-backed black-and-white cape when she entered the court and when she removed it, a black and white zebra-stripe print dress was revealed, split at one thigh.&nbsp;

On her cape, the legend of 'mother, champion, queen, goddess' was written in French.&nbsp;

"It was just to remind everyone that they can be champions and are queens. So I love that about it," she said of her 2019 dress and cape.

Lat year, Serena had caused a stir at the French Open with her Black Panther catsuit, <a href="https://www.wionews.com/sports/french-open-to-ban-serena-williams-superhero-like-black-catsuit-161409">which was subsequently banned</a>.&nbsp;

Roland Garros chiefs had said that the outfit that Serena wore will not be accepted they also described the outfit as "going too far".&nbsp;

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Let the Roland Garros begin. Here is my French Open look designed by <a href="https://twitter.com/virgilabloh?ref_src=twsrc%5Etfw">@virgilabloh</a> and <a href="https://twitter.com/Nike?ref_src=twsrc%5Etfw">@Nike</a>. <a href="https://t.co/niiyqoI94m">pic.twitter.com/niiyqoI94m</a>
— Serena Williams (@serenawilliams) <a href="https://twitter.com/serenawilliams/status/1132633035684421632?ref_src=twsrc%5Etfw">May 26, 2019</a></blockquote>
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"You know, I have been dealing with a lot, and then I just got nervous out there and I stopped moving my feet.&nbsp;

"There were like concrete blocks on my feet. I was, like, 'You gotta do something'," said Serena.&nbsp;

Former world number one Serena Williams entered the second round of French Open after she recovered from a poor first set to win 2-6, 6-1, 6-0 on Monday. More than her performance, Serena's dress made headlines at the Roland Garros as she chose a bold outfit for her first-round match against Russia’s Vitalia Diatchenko.

Former world number one Serena Williams entered the second round of French Open after she recovered from a poor first set to win 2-6, 6-1, 6-0 on Monday. More than her performance, Serena's dress made headlines at the Roland Garros as she chose a bold outfit for her first-round match against Russia’s Vitalia Diatchenko. Serena wore the Nike-backed black-and-white cape when she entered the court and when she removed it, a black and white zebra-stripe print dress was revealed, split at one thigh. On her cape, the legend of 'mother, champion, queen, goddess' was written in French. "It was just to remind everyone that they can be champions and are queens. So I love that about it," she said of her 2019 dress and cape. Lat year, Serena had caused a stir at the French Open with her Black Panther catsuit, which was subsequently banned. Roland Garros chiefs had said that the outfit that Serena wore will not be accepted they also described the outfit as "going too far". Let the Roland Garros begin. Here is my French Open look designed by @virgilabloh and @Nike. pic.twitter.com/niiyqoI94m — Serena Williams (@serenawilliams) May 26, 2019 × "You know, I have been dealing with a lot, and then I just got nervous out there and I stopped moving my feet. "There were like concrete blocks on my feet. I was, like, 'You gotta do something'," said Serena.

Serena Williams unveils new French Open outfit

German sportswear group Puma reported a record quarter in sales and earnings on Friday, driven by healthy demand in China and the Americas after it reentered the basketball market.

Puma has been growing faster than its bigger German rival Adidas and market leader Nike, helped by savvy social media campaigns and partnerships with celebrities like singers Selena Gomez and Rihanna and rap mogul Jay-Z.

Nike last month reported quarterly revenue that failed to beat Wall Street estimates for the first time in more than a year, as sales fell short of expectations in its biggest market of North America, sending its shares tumbling 5 per cent.

Puma's first-quarter sales rose a currency-adjusted 15.3 percent to 1.32 billion euros ($1.47 billion), versus an analyst consensus for 1.3 billion.

Operating profit came in at 143 million euros versus a consensus forecast of 139 million.

"The first quarter of 2019 was the best quarter PUMA has ever seen," Chief Executive Bjorn Gulden said in a statement, adding that revenue and absolute operating profit were the highest it had ever achieved.

Still, Puma held off raising its guidance for the full year, which analysts regard as conservative

"Even if we have nine more months to go and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year," Gulden said.

Puma has forecast currency-adjusted sales growth of about 10 per cent and operating profit of 395-415 million euros.

Adidas has forecast currency-neutral group sales growth of 5-8 per cent in 2019 as it grapples with supply issues, while Nike expects sales to grow in the low double digits.

Puma's first-quarter sales rose a currency-adjusted 28.6 per cent in Asia, and 16.3 per cent in the Americas, helped by Puma's launch of its first basketball shoe in 20 years in September.

German sportswear group Puma reported a record quarter in sales and earnings on Friday, driven by healthy demand in China and the Americas after it reentered the basketball market.

German sportswear group Puma reported a record quarter in sales and earnings on Friday, driven by healthy demand in China and the Americas after it reentered the basketball market. Puma has been growing faster than its bigger German rival Adidas and market leader Nike, helped by savvy social media campaigns and partnerships with celebrities like singers Selena Gomez and Rihanna and rap mogul Jay-Z. Nike last month reported quarterly revenue that failed to beat Wall Street estimates for the first time in more than a year, as sales fell short of expectations in its biggest market of North America, sending its shares tumbling 5 per cent. Puma's first-quarter sales rose a currency-adjusted 15.3 percent to 1.32 billion euros ($1.47 billion), versus an analyst consensus for 1.3 billion. Operating profit came in at 143 million euros versus a consensus forecast of 139 million. "The first quarter of 2019 was the best quarter PUMA has ever seen," Chief Executive Bjorn Gulden said in a statement, adding that revenue and absolute operating profit were the highest it had ever achieved. Still, Puma held off raising its guidance for the full year, which analysts regard as conservative "Even if we have nine more months to go and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year," Gulden said. Puma has forecast currency-adjusted sales growth of about 10 per cent and operating profit of 395-415 million euros. Adidas has forecast currency-neutral group sales growth of 5-8 per cent in 2019 as it grapples with supply issues, while Nike expects sales to grow in the low double digits. Puma's first-quarter sales rose a currency-adjusted 28.6 per cent in Asia, and 16.3 per cent in the Americas, helped by Puma's launch of its first basketball shoe in 20 years in September.

Puma reports 'best ever' quarter for sales and profit, beating Adidas and Nike

<a href="https://www.wionews.com/world/stormy-daniels-lawyer-charged-with-trying-to-extort-20-million-from-nike-205631">Attorney Michael Avenatti</a>, who represented adult film star Stormy Daniels in her legal battles with US President Donald Trump said that he was confident he will succeed as he appeared in a court on Monday.

"For nearly 20 years, I've represented Davids versus Goliaths as an attorney and during that entire time period, I've relied upon the justice system and judges in courthouses just like this," Avenatti said.

"I will now spend the time in connection with this case and the case in New York relying on that same justice system that I have subjected myself to, and I am highly confident that when the process plays out that justice will be done," Avenatti added.

The 48-year-old attorney was charged on March 25 with what prosecutors said was an attempt to "shakedown" Nike for over $20 million and is also accused of embezzling a client's funds from a $1.6 million settlement in order to pay his own expenses and debts.

He was later released from jail on a $300,000 personal recognizance bond.

Daniels, 48, who is no longer represented by Avenatti, said she was "saddened but not shocked" by his arrest, adding she fired him after learning he had acted "dishonestly" with her.

(With inputs from agencies)

Attorney Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles with US President Donald Trump said that he was confident he will succeed as he appeared in a court on Monday.

Attorney Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles with US President Donald Trump said that he was confident he will succeed as he appeared in a court on Monday. "For nearly 20 years, I've represented Davids versus Goliaths as an attorney and during that entire time period, I've relied upon the justice system and judges in courthouses just like this," Avenatti said. "I will now spend the time in connection with this case and the case in New York relying on that same justice system that I have subjected myself to, and I am highly confident that when the process plays out that justice will be done," Avenatti added. The 48-year-old attorney was charged on March 25 with what prosecutors said was an attempt to "shakedown" Nike for over $20 million and is also accused of embezzling a client's funds from a $1.6 million settlement in order to pay his own expenses and debts. He was later released from jail on a $300,000 personal recognizance bond. Daniels, 48, who is no longer represented by Avenatti, said she was "saddened but not shocked" by his arrest, adding she fired him after learning he had acted "dishonestly" with her. (With inputs from agencies)

Highly confident that justice will be done: Stormy Daniels' lawyer

Attorney Michael Avenatti, who represented <a href="https://www.wionews.com/world/us-judge-dismisses-stormy-daniels-hush-money-agreement-case-vs-trump-201920">adult film star Stormy Daniels</a> in her legal battles with <a href="https://www.wionews.com/world/trump-signs-proclamation-recognising-israeli-sovereignty-over-golan-heights-205595">US President Donald Trump</a>, was charged on Monday with what prosecutors said was an attempt to "shakedown" Nike Inc for over $20 million.

Avenatti, who was also hit with separate embezzlement and fraud charges in US District Court in Los Angeles, was arrested in New York.

A federal magistrate judge ordered Avenatti released on $300,000 bond during a hearing in US District Court in New York. A subdued Avenatti, appeared in the courtroom wearing a dark grey suit, sitting with federal public defenders.

"When due process occurs I will be fully exonerated and justice will prevail," Avenatti said outside the court following the hearing.

Prosecutors said Avenatti and another lawyer, who was not named in court papers, met with Nike's attorneys on March 19 and told them they had a client, a former amateur coach, who had evidence Nike employees had bribed top high school players to play for Nike-sponsored college teams.

The other lawyer, an unnamed co-conspirator, was identified by The New York Times and The Wall Street Journal, citing sources, as high-profile Los Angeles attorney and CNN contributor Mark Geragos.

Geragos did not respond to a request by Reuters for comment. A spokeswoman for CNN said Geragos was no longer with the network.

According to the criminal complaint, Avenatti told Nike he would go public unless it paid his client $1.5 million and hired him and the other lawyer to conduct an internal investigation for between $15 million and $25 million.

Avenatti also offered to accept a $22.5 million payment for his silence, prosecutors said.

A former executive at Nike rival athletic shoe maker Adidas was recently convicted in federal court in Manhattan of participating in a similar scheme, part of a sweeping probe by prosecutors of corruption surrounding the National Collegiate Athletic Association. The case has ensnared several prominent basketball coaches.

In one call, Avenatti threatened, "I'll go take ten billion dollars off your client's market cap ... I'm not fucking around," according to the complaint.

Geragos, who has represented celebrities such as Michael Jackson and Winona Ryder, is defending the actor Jussie Smollett, who is charged with falsely reporting he was the victim of a racially motivated attack in Chicago.

It was not clear why Geragos has not been charged in the Nike case.

"Old-fashioned shakedown''

The charges came shortly after Avenatti said on Twitter he would hold a news conference on Tuesday to reveal "a major high school/college basketball scandal" reaching "the highest levels of Nike."

"A suit and tie does not mask the fact that, at its core, this was an old-fashioned shakedown," Geoffrey Berman, the US attorney in Manhattan, told a news conference.

Nike said in a statement it "will not be extorted" and alerted investigators to Avenatti's demands immediately.

Federal prosecutors in California unveiled separate charges against Avenatti on Monday, accusing him of misusing a client's $1.6 million settlement to pay for his own expenses as well as those for his coffee business.

He was also charged with defrauding a Mississippi bank of $4.1 million in loans by submitting false tax returns for 2011-2013 that inflated his income.

Avenatti faces up to 30 years in prison on the most serious charge in California and up to 20 years for the top charge in New York.

He gained international notoriety for representing Daniels, the porn star whom Trump is accused of paying off during the 2016 presidential campaign to keep quiet about an alleged affair. Trump has denied having an affair with Daniels, whose real name is Stephanie Clifford.

Daniels, 48, who is no longer represented by Avenatti, said she was "saddened but not shocked" by his arrest, adding she fired him after learning he had acted "dishonestly" with her.

Attorney Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles with US President Donald Trump, was charged on Monday with what prosecutors said was an attempt to "shakedown" Nike Inc for over $20 million.

Attorney Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles with US President Donald Trump, was charged on Monday with what prosecutors said was an attempt to "shakedown" Nike Inc for over $20 million. Avenatti, who was also hit with separate embezzlement and fraud charges in US District Court in Los Angeles, was arrested in New York. A federal magistrate judge ordered Avenatti released on $300,000 bond during a hearing in US District Court in New York. A subdued Avenatti, appeared in the courtroom wearing a dark grey suit, sitting with federal public defenders. "When due process occurs I will be fully exonerated and justice will prevail," Avenatti said outside the court following the hearing. Prosecutors said Avenatti and another lawyer, who was not named in court papers, met with Nike's attorneys on March 19 and told them they had a client, a former amateur coach, who had evidence Nike employees had bribed top high school players to play for Nike-sponsored college teams. The other lawyer, an unnamed co-conspirator, was identified by The New York Times and The Wall Street Journal, citing sources, as high-profile Los Angeles attorney and CNN contributor Mark Geragos. Geragos did not respond to a request by Reuters for comment. A spokeswoman for CNN said Geragos was no longer with the network. According to the criminal complaint, Avenatti told Nike he would go public unless it paid his client $1.5 million and hired him and the other lawyer to conduct an internal investigation for between $15 million and $25 million. Avenatti also offered to accept a $22.5 million payment for his silence, prosecutors said. A former executive at Nike rival athletic shoe maker Adidas was recently convicted in federal court in Manhattan of participating in a similar scheme, part of a sweeping probe by prosecutors of corruption surrounding the National Collegiate Athletic Association. The case has ensnared several prominent basketball coaches. In one call, Avenatti threatened, "I'll go take ten billion dollars off your client's market cap ... I'm not fucking around," according to the complaint. Geragos, who has represented celebrities such as Michael Jackson and Winona Ryder, is defending the actor Jussie Smollett, who is charged with falsely reporting he was the victim of a racially motivated attack in Chicago. It was not clear why Geragos has not been charged in the Nike case. "Old-fashioned shakedown'' The charges came shortly after Avenatti said on Twitter he would hold a news conference on Tuesday to reveal "a major high school/college basketball scandal" reaching "the highest levels of Nike." "A suit and tie does not mask the fact that, at its core, this was an old-fashioned shakedown," Geoffrey Berman, the US attorney in Manhattan, told a news conference. Nike said in a statement it "will not be extorted" and alerted investigators to Avenatti's demands immediately. Federal prosecutors in California unveiled separate charges against Avenatti on Monday, accusing him of misusing a client's $1.6 million settlement to pay for his own expenses as well as those for his coffee business. He was also charged with defrauding a Mississippi bank of $4.1 million in loans by submitting false tax returns for 2011-2013 that inflated his income. Avenatti faces up to 30 years in prison on the most serious charge in California and up to 20 years for the top charge in New York. He gained international notoriety for representing Daniels, the porn star whom Trump is accused of paying off during the 2016 presidential campaign to keep quiet about an alleged affair. Trump has denied having an affair with Daniels, whose real name is Stephanie Clifford. Daniels, 48, who is no longer represented by Avenatti, said she was "saddened but not shocked" by his arrest, adding she fired him after learning he had acted "dishonestly" with her.

Stormy Daniels' lawyer charged with trying to extort $20 million from Nike

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

The 33-year-old athlete on Tuesday denied rape allegations levelled against him by a woman who sued him in court in Nevada.

"We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," Nike said in a statement.

Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him which could be worth as much as $1 billion, according to Forbes magazine.

Nike did not respond immediately to a request to confirm the statement.

Electronic Arts has featured Ronaldo on the cover of its EA Sports' FIFA series for two years.

"We have seen the concerning report that details allegations against Cristiano Ronaldo," an EA spokesperson said in an email to Reuters.

"We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the company said.

Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite.

The player has said his conscience was clear and that he would await the results of any investigation.

"I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in," the world-famous athlete wrote in a tweet to his 75 million followers.

Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo.

"Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus," the team tweeted.

"The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion," Juventus said.

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players. The 33-year-old athlete on Tuesday denied rape allegations levelled against him by a woman who sued him in court in Nevada. "We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," Nike said in a statement. Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him which could be worth as much as $1 billion, according to Forbes magazine. Nike did not respond immediately to a request to confirm the statement. Electronic Arts has featured Ronaldo on the cover of its EA Sports' FIFA series for two years. "We have seen the concerning report that details allegations against Cristiano Ronaldo," an EA spokesperson said in an email to Reuters. "We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the company said. Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite. The player has said his conscience was clear and that he would await the results of any investigation. "I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in," the world-famous athlete wrote in a tweet to his 75 million followers. Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo. "Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus," the team tweeted. "The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion," Juventus said.

Nike 'concerned' about Ronaldo rape claims

US sportswear giant Nike says it is "deeply concerned" by rape allegations against Cristiano Ronaldo and shares in Italian champions Juventus fell over five percent on the Italian stock exchange on Friday.

Portuguese star Ronaldo is one of the world's top athletes and boasts a number of lucrative sponsorship contracts.

But his relationship with Nike, which is rumoured to be worth $1 billion dollars (869 million euros), could be in jeopardy after police in Las Vegas announced this week they were reopening a rape case after allegations made by a former model, Kathryn Mayorga, relating to an incident in 2009.

"We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," a Nike spokesman told AFP on Thursday.

According to Forbes magazine, Ronaldo is one of only three athletes to have been given a lifetime deal with Nike, joining an elite club that also includes NBA icons LeBron James and Michael Jordan.

EA Sports, for whom Ronaldo is a leading figure in their phenomenally successful FIFA video game market, also described the allegations as "concerning".

"We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the group said in a statement.

Juventus reaction criticised

Ronaldo's move from Real Madrid to Juventus in the summer gave the Italian champions a huge boost, both on and off the field, as they continue their elusive bid for a first Champions League title since 1996. On September 20, shares rose 180 percent to a record level of over 1.80 euros.

But the Italian champions woke up to the sobering news on Friday that over five percent had been wiped off the value of their shares after the Milan stock exchange opened. At midday on Friday they were worth 1.25 euro a share.

Juventus have so far stood behind Ronaldo, but the Italian club's reaction to the issue has angered some fans.

The Portuguese striker "has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus", the club wrote on Twitter Thursday, breaking their silence over the allegations.

"The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion."

Juventus later posted a video on YouTube and Twitter showing Ronaldo working up a sweat as he trained with his teammates for Saturday's league game against Udinese.

"Juventus go for goal. Cristiano Ronaldo finds the target!" read the caption beside the video.

The defending Serie A champions' tweets were widely panned on social media as "shockingly dismissive and insensitive".

"You'd expect a more nuanced and sensitive approach from such a mega organisation," said one tweet.

Ronaldo has vehemently denied the accusations.

"I firmly deny the accusations being issued against me," he tweeted in English on Wednesday.

"Rape is an abominable crime that goes against everything that I am and believe in.

"My clear conscious (sic) will thereby allow me to await with tranquility the results of any and all investigations," he added on his Twitter feed, which has 75 million followers.

Portugal said Thursday Ronaldo will play no part in the country's next four internationals, but he was given backing from Portugal coach Fernando Santos and the president of the Portuguese Football Federation (FPF), Fernando Gomes.

Asked about the allegations, Santos said. "I know Cristiano Ronaldo very well and I fully believe his word when he says he would never commit a crime like this."

Gomes also spoke up for Ronaldo.

"I believe what he said... because I've known Ronaldo for many years and I can attest to his good character," Gomes said.

Mayorga's attorney Leslie Stovall told reporters his client had suffered years of trauma as a result of the alleged attack and found the courage to speak out thanks to the #MeToo movement against sexual harassment and assault at the hands of powerful men.

Mayorga claims she was pressured into signing a non-disclosure agreement in 2010 to keep the alleged rape secret and is seeking at least $200,000 in penalties and damages.

US sportswear giant Nike says it is "deeply concerned" by rape allegations against Cristiano Ronaldo and shares in Italian champions Juventus fell over five percent on the Italian stock exchange on Friday.

US sportswear giant Nike says it is "deeply concerned" by rape allegations against Cristiano Ronaldo and shares in Italian champions Juventus fell over five percent on the Italian stock exchange on Friday. Portuguese star Ronaldo is one of the world's top athletes and boasts a number of lucrative sponsorship contracts. But his relationship with Nike, which is rumoured to be worth $1 billion dollars (869 million euros), could be in jeopardy after police in Las Vegas announced this week they were reopening a rape case after allegations made by a former model, Kathryn Mayorga, relating to an incident in 2009. "We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," a Nike spokesman told AFP on Thursday. According to Forbes magazine, Ronaldo is one of only three athletes to have been given a lifetime deal with Nike, joining an elite club that also includes NBA icons LeBron James and Michael Jordan. EA Sports, for whom Ronaldo is a leading figure in their phenomenally successful FIFA video game market, also described the allegations as "concerning". "We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA's values," the group said in a statement. Juventus reaction criticised Ronaldo's move from Real Madrid to Juventus in the summer gave the Italian champions a huge boost, both on and off the field, as they continue their elusive bid for a first Champions League title since 1996. On September 20, shares rose 180 percent to a record level of over 1.80 euros. But the Italian champions woke up to the sobering news on Friday that over five percent had been wiped off the value of their shares after the Milan stock exchange opened. At midday on Friday they were worth 1.25 euro a share. Juventus have so far stood behind Ronaldo, but the Italian club's reaction to the issue has angered some fans. The Portuguese striker "has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus", the club wrote on Twitter Thursday, breaking their silence over the allegations. "The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion." Juventus later posted a video on YouTube and Twitter showing Ronaldo working up a sweat as he trained with his teammates for Saturday's league game against Udinese. "Juventus go for goal. Cristiano Ronaldo finds the target!" read the caption beside the video. The defending Serie A champions' tweets were widely panned on social media as "shockingly dismissive and insensitive". "You'd expect a more nuanced and sensitive approach from such a mega organisation," said one tweet. Ronaldo has vehemently denied the accusations. "I firmly deny the accusations being issued against me," he tweeted in English on Wednesday. "Rape is an abominable crime that goes against everything that I am and believe in. "My clear conscious (sic) will thereby allow me to await with tranquility the results of any and all investigations," he added on his Twitter feed, which has 75 million followers. Portugal said Thursday Ronaldo will play no part in the country's next four internationals, but he was given backing from Portugal coach Fernando Santos and the president of the Portuguese Football Federation (FPF), Fernando Gomes. Asked about the allegations, Santos said. "I know Cristiano Ronaldo very well and I fully believe his word when he says he would never commit a crime like this." Gomes also spoke up for Ronaldo. "I believe what he said... because I've known Ronaldo for many years and I can attest to his good character," Gomes said. Mayorga's attorney Leslie Stovall told reporters his client had suffered years of trauma as a result of the alleged attack and found the courage to speak out thanks to the #MeToo movement against sexual harassment and assault at the hands of powerful men. Mayorga claims she was pressured into signing a non-disclosure agreement in 2010 to keep the alleged rape secret and is seeking at least $200,000 in penalties and damages.

Nike 'deeply concerned' and Juventus shares drop amid Ronaldo rape claims

Nike Inc said on Tuesday four senior executives were leaving the company as the sportswear maker continues a far-reaching investigation into workplace harassment.

Nike has seen a slew of senior executives exit, including president of its namesake brand, Trevor Edwards, since the probe was launched in March.

Chief Executive Officer Mark Parker last week apologized to employees in a company-wide town hall for its past work culture and promised to complete the investigation this week.

The latest exits were first reported by the New York Times, which said 10 top executives have now left since the probe started.

Asked to confirm the names of the executives and the reasons for their departure, Nike declined to comment.

Nike did not confirm the names of the executives or the reasons for their departure

Nike Inc said on Tuesday four senior executives were leaving the company as the sportswear maker continues a far-reaching investigation into workplace harassment. Nike has seen a slew of senior executives exit, including president of its namesake brand, Trevor Edwards, since the probe was launched in March. Chief Executive Officer Mark Parker last week apologized to employees in a company-wide town hall for its past work culture and promised to complete the investigation this week. The latest exits were first reported by the New York Times, which said 10 top executives have now left since the probe started. Asked to confirm the names of the executives and the reasons for their departure, Nike declined to comment.

Four more Nike executives exit as harassment inquiry continues

A small step taken by women employees at Nike's headquarters in Beaverton, United States helped them get&nbsp;rid of the misogynist work culture that prevailed in the company.

When things got too difficult to turn around with the male colleagues, females employees at the company got together and decided to conduct a survey among themselves that was submitted to the CEO, Mark Parker, on March 5.

In the survey, female employees were asked if they had ever been a victim of sexual harassment and gender discrimination at the company. The findings jolted the executive rungs of a company that figures as the largest sports footwear and apparel company in the world.

So far, at least 6 top Nike executives have called it quits including Nike brand president Trevor Edwards and Jayme Martin who looked after most of Nike's global business.

At Nike, women employes customarily battled pay inequity, faced sexual harassment, tolerated poor representation and worried about a stunted career.&nbsp;

Many reports described the 'Nike&nbsp;exodus'&nbsp;as a result of "toxic" environment at work&nbsp;that women faced for way too long.

The survey brought to light a series of incidents where women felt harassed and recounted times where the team outings ended at strip clubs, among other incidents.&nbsp;

Earlier this month, Nike's chief human resources officer, Monique Matheson noted that the company is not been able to gain traction in attracting women applicants and those who from the minority groups weeks after "complaints of inappropriate workplace behaviour led to a leadership rejig," Reuters reported.&nbsp; 
&nbsp;

So far, at least 6 top Nike executives have called it quits including Nike brand president Trevor Edwards

A small step taken by women employees at Nike's headquarters in Beaverton, United States helped them get rid of the misogynist work culture that prevailed in the company. When things got too difficult to turn around with the male colleagues, females employees at the company got together and decided to conduct a survey among themselves that was submitted to the CEO, Mark Parker, on March 5. In the survey, female employees were asked if they had ever been a victim of sexual harassment and gender discrimination at the company. The findings jolted the executive rungs of a company that figures as the largest sports footwear and apparel company in the world. So far, at least 6 top Nike executives have called it quits including Nike brand president Trevor Edwards and Jayme Martin who looked after most of Nike's global business. At Nike, women employes customarily battled pay inequity, faced sexual harassment, tolerated poor representation and worried about a stunted career. Many reports described the 'Nike exodus' as a result of "toxic" environment at work that women faced for way too long. The survey brought to light a series of incidents where women felt harassed and recounted times where the team outings ended at strip clubs, among other incidents. Earlier this month, Nike's chief human resources officer, Monique Matheson noted that the company is not been able to gain traction in attracting women applicants and those who from the minority groups weeks after "complaints of inappropriate workplace behaviour led to a leadership rejig," Reuters reported.

At Nike, female employees step up against sexual harrassment, top male officers call it quits

The EU pushed on Tuesday for Europe to draw up a blacklist of tax havens after the &quot;Paradise Papers&quot; revealed loopholes used by Apple and Nike as well as celebrities including Formula One champion Lewis Hamilton.

While seeking to minimise taxes is not necessarily illegal, revelations from the 13.4 million leaked documents have already proved embarrassing to figures as diverse as U2 singer Bono and Queen Elizabeth II.

Apple is the latest company to become caught up in the leaks, which show how the technology giant moved tens of billions of dollars from low-tax Ireland to Britain&#39;s Channel Islands when Dublin began tightening its laws in 2015.

But Apple said shifting the funds to the island of Jersey, which is largely exempt from EU tax regulations, did not save it any money.

The leaks, which shed further light on how the global elite manages its money after the Panama Papers and LuxLeaks scandal, were center-stage at Tuesday&#39;s meeting of EU finance ministers in Brussels.

The EU has struggled for more than a year to finalise a list of non-EU tax havens, with smaller, low-tax nations such as Ireland, Malta, and Luxembourg reluctant to scare companies away.

But EU Economic Affairs Commissioner Pierre Moscovici, who is leading the blacklist effort, said he wanted it in place by the end of the year.

&quot;It must be credible and up to the challenge,&quot; he said.

Sources said EU officials have warned about 60 countries that their tax policies may be at risk of blacklisting, demanding further information before November 18.

It is the latest international effort to clamp down on tax avoidance, increasingly seen as a moral issue, following a similar move by the OECD group of wealthy nations to compile a list of &quot;uncooperative tax havens&quot;.

Private jets, Russia ties&nbsp;

In Britain, the BBC and The Guardian reported that Hamilton avoided paying taxes on his private jet using an elaborate scheme now under investigation by tax authorities.

Documents showed that the driver received a &pound;3.3 million ($4.3 million, 3.7 million euros) tax refund in 2013 after his luxury plane was imported into the Isle of Man, a low-tax British dependency.

Hamilton&#39;s representatives could not be reached by AFP for comment.

Another report in French newspaper Le Monde said sportswear giant Nike used a Dutch loophole to reduce its tax rate in Europe to just two percent, compared with a 25 percent average for European companies.

Nike, which says it acted legally, managed to save taxes by using an offshore subsidiary, the report said.

Separately, the documents showed that US Commerce Secretary Wilbur Ross had a 31 percent stake in shipping firm Navigator Holdings, a partnership with Russian energy giant Sibur.

That company is partially owned by Vladimir Putin&#39;s son-in-law Kirill Shamalov and by Gennady Timchenko, the Russian president&#39;s friend and business partner who is subject to US sanctions.

The cabinet member&#39;s ties to Russian entities raise questions over potential conflicts of interest, and whether they undermine sanctions on Moscow over the war in Ukraine.

Ross has denied any wrongdoing, telling Bloomberg News he had already been planning to sell his stake, while Russian politicians stressed that the deals were legal.

&#39;Ticking time bomb&#39;&nbsp;

Irish singer Bono, meanwhile, an ardent anti-poverty campaigner, said he was &quot;distressed&quot; by documents showing he invested in a Lithuanian shopping centre which may have broken tax rules.

Earlier reports highlighted that about &pound;10 million of the private funds of Britain&#39;s Queen Elizabeth II was placed in the Cayman Islands and Bermuda.

Her estate emphasised that her investments were &quot;fully audited and legitimate&quot;.

Europe&#39;s antitrust chief Margrethe Vestager said the leaks served as additional evidence that the business world needed to be more open.

&quot;We cannot... rely on leaks or investigative work, we need more transparency,&quot; she told a meeting in Lisbon that brought together technology investors and entrepreneurs.

&quot;That&#39;s why we ask that every company reveal the totality of the information concerning its presence in every country,&quot; she added.&nbsp;

The Paradise Papers documents, which are mainly from the offshore law firm Appleby, have been shared with international media via the US-based International Consortium of Investigative Journalists.

Appleby has denounced the release as a &quot;serious criminal act&quot; and stressed that its &quot;overriding objective&quot; is to comply with regulations around the world.

The EU pushed on Tuesday for Europe to draw up a blacklist of tax havens after the 'Paradise Papers' revealed loopholes used by Apple and Nike as well as celebrities including Formula One champion Lewis Hamilton

The EU pushed on Tuesday for Europe to draw up a blacklist of tax havens after the "Paradise Papers" revealed loopholes used by Apple and Nike as well as celebrities including Formula One champion Lewis Hamilton. While seeking to minimise taxes is not necessarily illegal, revelations from the 13.4 million leaked documents have already proved embarrassing to figures as diverse as U2 singer Bono and Queen Elizabeth II. Apple is the latest company to become caught up in the leaks, which show how the technology giant moved tens of billions of dollars from low-tax Ireland to Britain's Channel Islands when Dublin began tightening its laws in 2015. But Apple said shifting the funds to the island of Jersey, which is largely exempt from EU tax regulations, did not save it any money. The leaks, which shed further light on how the global elite manages its money after the Panama Papers and LuxLeaks scandal, were center-stage at Tuesday's meeting of EU finance ministers in Brussels. The EU has struggled for more than a year to finalise a list of non-EU tax havens, with smaller, low-tax nations such as Ireland, Malta, and Luxembourg reluctant to scare companies away. But EU Economic Affairs Commissioner Pierre Moscovici, who is leading the blacklist effort, said he wanted it in place by the end of the year. "It must be credible and up to the challenge," he said. Sources said EU officials have warned about 60 countries that their tax policies may be at risk of blacklisting, demanding further information before November 18. It is the latest international effort to clamp down on tax avoidance, increasingly seen as a moral issue, following a similar move by the OECD group of wealthy nations to compile a list of "uncooperative tax havens". Private jets, Russia ties In Britain, the BBC and The Guardian reported that Hamilton avoided paying taxes on his private jet using an elaborate scheme now under investigation by tax authorities. Documents showed that the driver received a £3.3 million ($4.3 million, 3.7 million euros) tax refund in 2013 after his luxury plane was imported into the Isle of Man, a low-tax British dependency. Hamilton's representatives could not be reached by AFP for comment. Another report in French newspaper Le Monde said sportswear giant Nike used a Dutch loophole to reduce its tax rate in Europe to just two percent, compared with a 25 percent average for European companies. Nike, which says it acted legally, managed to save taxes by using an offshore subsidiary, the report said. Separately, the documents showed that US Commerce Secretary Wilbur Ross had a 31 percent stake in shipping firm Navigator Holdings, a partnership with Russian energy giant Sibur. That company is partially owned by Vladimir Putin's son-in-law Kirill Shamalov and by Gennady Timchenko, the Russian president's friend and business partner who is subject to US sanctions. The cabinet member's ties to Russian entities raise questions over potential conflicts of interest, and whether they undermine sanctions on Moscow over the war in Ukraine. Ross has denied any wrongdoing, telling Bloomberg News he had already been planning to sell his stake, while Russian politicians stressed that the deals were legal. 'Ticking time bomb' Irish singer Bono, meanwhile, an ardent anti-poverty campaigner, said he was "distressed" by documents showing he invested in a Lithuanian shopping centre which may have broken tax rules. Earlier reports highlighted that about £10 million of the private funds of Britain's Queen Elizabeth II was placed in the Cayman Islands and Bermuda. Her estate emphasised that her investments were "fully audited and legitimate". Europe's antitrust chief Margrethe Vestager said the leaks served as additional evidence that the business world needed to be more open. "We cannot... rely on leaks or investigative work, we need more transparency," she told a meeting in Lisbon that brought together technology investors and entrepreneurs. "That's why we ask that every company reveal the totality of the information concerning its presence in every country," she added. The Paradise Papers documents, which are mainly from the offshore law firm Appleby, have been shared with international media via the US-based International Consortium of Investigative Journalists. Appleby has denounced the release as a "serious criminal act" and stressed that its "overriding objective" is to comply with regulations around the world.

EU pushes for tax blacklist after Paradise Papers leak

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