Luke Vargas

Nike has had some success, though, with its running wholesale and North American businesses showing signs of progress, though Hill said that alongside China, its sportswear business and Converse brand are taking longer to recover.

And once a go-to sneaker for Silicon Valley and public figures alike, including President Obama, Allbirds has sold its assets for just a fraction of the $4 billion it was once valued at.

with the eco-friendly wool sneaker brand striking a deal to sell itself to American Exchange Group for just $39 million.

The premise that consumers would pay a premium for sustainably made products turned out to be flawed, with Allbirds stumbles opening the door for brands that have attracted tech and fashion trendsetters alike, such as Ahn and Hoka.

And that's it for what's news for this Wednesday morning.

Today's show was produced by Hattie Moyer.

Our supervising producer was Daniel Bach.

And I'm Luke Vargas for The Wall Street Journal.

We will be back tonight with a new show.

And until then, thanks for listening.

Here is your Morning Brief for Tuesday, March 31st.

I'm Luke Vargas for The Wall Street Journal.

U.S.

gasoline prices have crossed the $4 a gallon mark, according to AAA, and are now up more than a dollar compared to a month ago.

That's after a Kuwaiti oil tanker was struck by a drone near Dubai overnight in an attack that market analysts say highlights the growing threats to key shipping routes.

It also comes as we report that President Trump has told aides that he's willing to end the war against Iran without reopening the Strait of Hormuz, a mission that he and his aides have assessed would push the conflict beyond his timeline.

of four to six weeks.

High earners in Washington state will face a new tax on income over $1 million starting in 2028.

And the American Heart Association is recommending getting protein from plants instead of meat, choosing low-fat or fat-free dairy, and skipping butter and beef tallow in favor of olive, soybean, or canola oil.

Those recommendations stand in sharp contrast with some elements of new guidelines introduced by the Trump administration this year, which endorsed full-fat dairy and specifically suggested that Americans eat red meat as a protein source.