Nike’s global layoffs; Big Oil needs to spend on wind & solar; Inside the future of Ikea

What's new... what's next   By Matt Egan, Julia Horowitz and Paul R. La Monica of CNNMoney 1. Nike laying off workers around the globe The sneaker giant is cutting 2% of its workforce. Nike didn't say how many of those layoffs would take place at its Oregon headquarters. But it's clear the Swoosh must change to contend with the competitive threat from Adidas. Nike now hopes to produce more personalized products for consumers. Wall Street wasn't impressed though. Shares fell 3% Thursday. Nike has underperformed the market this year too -- and it was the worst Dow stock of 2016. 2. Western companies not attractive for Chinese The desire to work for international companies is waning amongst China's best and brightest. Scoring a job at a big Western firm used to carry serious cache in China, but now just 18% of Chinese college students say they want to work for an international company, according to a new survey conducted by research firm Universum. That's down from 28% two years ago. Students said they consider international companies "less secure and stable" compared with China's state-owned or private counterparts. 3. Take a look inside the future of Ikea Ikea wants to grow beyond the big-box, with the Swedish retailer embarking on a series of retail experiments and tech innovations that it hopes will keep shoppers coming back. What do they have in mind? For starters, Ikea's working with Apple on an augmented reality app that lets customers visualize certain products in their homes. It's also started to open mini stores in the U.K., Canada, Italy, Norway, Japan and China. 4. Big Oil needs to spend $350B on wind & solar Oil companies may be ignoring the rapid growth of solar and wind energy at their own peril. Yes, the world still gets most of its energy from fossil fuels like oil and coal. But governments have begun to crack down on carbon and consumers are shifting to cleaner options. Oil and gas consultancy Wood Mackenzie warned that Big Oil must spend $350 billion on wind and solar by 2035 to catch up. Otherwise traditional energy firms risk being left behind. 5. Quick Takes: Grocery wars! Amazon and Walmart are crushing Kroger CEOs give President Trump an "F" for his first 130 days in office Airline stocks, flying high, are finally back to pre-9/11 levels One of Uber's partners is investing in Middle East rival Careem Hey, 'Seinfeld' fans: 'Soup Nazi' company has filed for bankruptcy 6. What's next: Central bank parade continues: The Bank of Japan is expected to keep interest rates in negative territory when its meeting wraps up late Thursday night. Russia's central bank is also scheduled to announce a decision on Friday about interest rates. Economists expect a rate cut in Russia even as President Vladimir Putin declares the country's economic crisis is over. Feeling good? The University of Michigan's consumer sentiment index for the beginning of June is due out at 10 a.m. ET on Friday. The report could offer clues into how Americans are feeling amid the latest political scandals in Washington. Recent evidence suggests the post-election bounce in consumer confidence has yet to translate to healthier spending at the mall. Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences