PORTLAND - NIKE says it will cut about 1,750 jobs worldwide.

That represents 5 per cent of the global work force at the shoe and apparel company.

NEW YORK - WALL Street rebounded on Thursday from a heavy selloff a day earlier as investors looked ahead toward economic recovery despite data showing more Americans losing their jobs.

The blue-chip Dow rose 41.33 points (0.50 per cent) to 8,326.22 at the closing bell, a day after slumping 2.18 per cent on weak retail sales data.

RIO RANCHO (New Mexico) - PRESIDENT Barack Obama on Thursday piled pressure on Congress for immediate action on steep rate hikes and predatory fees clamped by credit card firms on recession-hit Americans.

'Enough is enough, it's time for strong and reliable protections for our consumers,' Mr Obama said at a town-hall meeting in New Mexico.