A culturally linked, geopolitically diverse region
Tui has seen a sharp drop in pre-tax profits in its third quarter as fuel costs rise amid the Middle East conflict. The group reports weaker bookings and higher costs, but notes some signs of recovery in demand and continued price pressure.
IHG reports half-year results showing a 10% rise in operating profits to $665 million and a global RevPAR growth of 4.1%, driven by the Americas, Asia-Pacific, and Europe. The Middle East conflict weighs on performance, with RevPAR in the region falling about 19% in Q2, while UK and other markets show resilience.
Nike has unveiled its Pace plan to cut costs and streamline operations, signaling further layoffs start in 2027 as it reorganizes into three geographies. The move follows disappointing Q1 results, with revenue down and profit slipping, while Nike seeks to bolster its Sportswear, Jordan Brand and Greater China segments. Details on extent of job cuts remain unclear.