Apple’s eagerly anticipated iWatch could become a defining product which allows Tim Cook finally step out of the shadow of Steve Jobs, according to analysts.

NIKE Inc posted a lower-than-expected quarterly profit as the world’s largest athletic shoe and clothing maker was hit by rising costs of oil and cotton and shares fell nearly 6%.

England football shirt maker Umbro is to be taken over by US sports giant Nike after a £285 million deal was rubber-stamped today.