Apple (AAPL.O) said on Monday it sold more than 13 million iPhone 6s and 6s Plus in the first weekend on the market, a new record for its marquee product.

The company improved its previous record of 10 million iPhones sold in the first weekend of 2014, benefiting from the inclusion of the Chinese market, where the gadget's debut was delayed last year by regulatory issues.

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Royal Dutch Shell (RDSa.L) has abandoned its Arctic search for oil after failing to find enough crude in a move that will appease environmental campaigners and shareholders who said its project was too expensive and risky.

Shell has spent about $7 billion on exploration in the waters off Alaska so far and said it could take a hit of up to $4.1 billion for pulling out of the Chukchi Sea for the "foreseeable future".

The unsuccessful campaign is Shell's second major setback in the Arctic after it interrupted exploration for three years in 2012 when an enormous drilling rig broke free and grounded.

Environmental campaigners and shareholders have also pressured Shell to drop Arctic drilling. Some are worried an oil spill would harm protected species while others are concerned about the cost after oil prices more than halved in a year.

"Shell has found indications of oil and gas in the Burger J well but these are not sufficient to warrant further exploration," Shell said in a statement on Monday.

It said the decision to withdraw from the area reflected the results from the exploratory well, the project's high costs and the unpredictable federal regulatory environment in the area off the U.S. state of Alaska.

"The entire episode has been a very costly error for the company both financially and reputationally," said analysts at Deutsche Bank, who estimate the Shell's Arctic exploration project could cost the company about $9 billion.

Shell's abandonment of Arctic drilling came just six weeks after the U.S. government granted the company final clearance for its campaign. "They had a budget of billions, we had a movement of millions. For three years we faced them down, and the people won," said John Sauven, executive director at Greenpeace UK.

Activists tried to interrupt Shell's drilling plans in July by blocking an icebreaker vessel as they dangled from a bridge. The decision is also the latest in a series of setbacks for projects in the Arctic trying to find oil and gas deposits estimated at 20 percent of the world's undiscovered resources.

Shell's London-listed shares reacted positively in early trading on Monday to the Arctic withdrawal, gaining up to 0.6 percent. The shares fell later in line with the oil and gas index .SXEP.

"Alaska been a bone of contention for many investors thus today's update is a positive," said Bernstein analysts, who rate Shell's stock as outperform.

Shell said its Alaskan project was valued at about $3 billion on its balance sheet and that it had a $1.1 billion in future contractual commitments. It said it would give an update on the cost of writedowns with third-quarter results.

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Nike Inc. posted a 23% jump in quarterly profits and particularly strong sales gains in China, as the world’s largest sportswear maker bucked concerns about that country’s economic health.

The athletic gear company reported a three-month profit of $1.18 billion as sales rose 5% from a year earlier to $8.41 billion. Excluding the effects of currency fluctuations, Nike said its global sales rose 14% in the quarter ended Aug. 31. Leading all regions in revenue growth was China, where sales jumped 30% to $886 million.

China had been a trouble spot for Nike just two years ago, as the company wrestled with lagging sales and depleted demand after a massive run-up to the 2008 Olympics. The company has worked with wholesale partners in the region to remodel how products are displayed to customers.

“While we are very mindful of the macroeconomic volatility in China, our brand has never been stronger and our marketplace has never been more healthy,” said Andrew Campion in his first earnings call as Nike’s chief financial officer. Mr. Campion succeeded Don Blair, who retired this summer.

Nike said futures orders, which reflect products scheduled for delivery in the next six months, rose 9% on global basis. Futures orders are closely watched by investors as a benchmark for demand for Nike products.

Shares of the Beaverton, Ore.-based company rose 7.8% to $123.90 in recent after-hours trading as the company’s per-share earnings and revenue surpassed expectations. Through Thursday’s close, the stock had risen 42% over the past 12 months.

Nike has been benefiting from cultural trends that favor its products, including the rise of athletically styled footwear and clothes among consumers who aren’t necessarily planning a workout.

The world’s top sneaker seller also holds the lead in the sports apparel sector, where in addition to competition from Germany-based rival Adidas AG, younger rivals such as Under Armour Inc. and Skechers USA Inc. have been moving in on its turf.

Nike reported a 10% rise in inventories in North America, which it attributed in part to buildup from the West Coast port closures earlier this year. Executives said that they expect the clearance of excess inventory to resolve in the next two quarters, which could impact margin growth during the period.

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1. The new iPhone 6s and 6s Plus hit stores on Friday, with dozens of people - and a robot - queueing in Sydney to kick off a global sales cycle that will be scrutinized for signs of how much juice Apple (NASDAQ:AAPL) Inc's marquee product has left.

Analysts expect a record 12 million to 13 million phones to fly off the shelves in the first weekend, up from more than 10 million last year when the hugely successful iPhone 6's launch was delayed in China, the world's biggest smartphone market.

2. The dollar held gains against the other major currencies on Friday, after data showed that the U.S. economy grew at a faster rate than expected in the second quarter, adding to expectations for a rate hike in the next months.

3. In addressing the public for the first time since the Federal Open Market Committee held its benchmark Federal Funds Rate at its current near-zero level last week, Janet Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year.

4. European stocks were sharply higher on Friday, as global growth concerns subsided after Federal Reserve Chair Janet Yellen suggested the possibility of a rate hike later this year. During European morning trade, the EURO STOXX 50 rallied 2.31%, France’s CAC 40 advanced 2.46%, while Germany’s DAX 30 surged 2.30%.

5. U.S. stocks opened higher on Friday, a day after Federal Reserve Chair Janet Yellen said she expects the central bank to raise interest rates this year, easing concerns about slowing global growth.

The Dow Jones industrial average rose 174.91 points, or 1.08 percent, to 16,376.23. The S&P 500 gained 14.16 points, or 0.73 percent, to 1,946.4 and the Nasdaq composite added 47.78 points, or 1.01 percent, to 4,782.26.

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The US economy grew 3.9% in the second quarter, better than previously reported.

The GDP rise was led by consumer spending on health care, food services, and accommodation, according to the Bureau of Economic Analysis (BEA).

Economists had forecast that the third and final estimate of gross domestic product (GDP) was 3.7%, unchanged from the prior estimate. Second quarter consumption was revised up to 3.6% from 3.1%.

The average of GDP and gross domestic income (GDI) rose 0.7%, versus 0.4% in Q1. The new measure was introduced in the last quarter as a new way to gauge the economy's strength and correct the error that makes both different when, in theory, they should be equal.

The BEA also released personal consumption expenditures, a measure of consumer spending that serves as a gauge of inflation and is preferred by Federal Reserve chair Janet Yellen. It was 2.2% for Q2, unchanged from the prior estimate.

"Core" PCE", which excludes volatile food and energy prices, was 1.9%, beating the forecast for 1.8%.

Following the release, US stock futures lost a bit of their strong overnight rally, with Dow futures up more than 200 points.

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1. U.S. stocks were little changed at the open on Wednesday as investors awaited the U.S. Federal Reserve's decision on a rate increase.

The Dow Jones industrial average (DJI) rose 12.56 points, or 0.08 percent, to 16,612.41, the S&P 500 (SPX) gained 1.92 points, or 0.1 percent, to 1,980.01 and the Nasdaq composite (IXIC) added 1.37 points, or 0.03 percent, to 4,861.89.

2. The dollar trimmed gains against the other major currencies on Wednesday, after data showed that U.S. inflation ticked lower last month and as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy statement due on Thursday.

4. Consumer price inflation in the U.S. ticked lower in August while prices excluding food and energy costs remained steady, official data showed on Wednesday. The Commerce Department said consumer prices edged down by a seasonally adjusted 0.1% last month, in line with forecasts following a 0.1% increase in July.

5. Package delivery company FedEx Corp (N:FDX) posted a higher quarterly profit on Wednesday, but missed Wall Street expectations due to weak global economic conditions and the strong U.S. dollar.

6. Gold prices pushed higher on Wednesday, pulling away from the previous week’s one-month low but gains were held in check ahead of the Federal Reserve’s decision on U.S. interest rates.

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1. U.S. stocks opened higher on Tuesday after data showed retail sales continued to rise in August but gains were capped by caution ahead of this week's Federal Reserve meeting.

The Dow Jones industrial average (DJI) rose 55.78 points, or 0.34 percent, to 16,426.74, the S&P 500 (SPX) gained 6.85 points, or 0.35 percent, to 1,959.88 and the Nasdaq composite (IXIC) added 12.33 points, or 0.26 percent, to 4,818.09.

2. The dollar edged higher against the other major currencies on Tuesday, despite the release of downbeat U.S. data, as investors continued to focus on the Federal Reserve's upcoming policy statement on Thursday.

3. U.S. consumer spending appeared to grow at a fairly healthy pace halfway through the third quarter, pointing to solid domestic demand that could persuade a cautious Federal Reserve to hike interest rates on Thursday.

Other data on Tuesday, however, showed manufacturing continuing to struggle under the weight of a strong dollar and softening global demand. Factory activity in New York State contracted in September for a second straight month.

4. Retail sales in the U.S. rose less-than-expected last month, official data showed on Tuesday. In a report, the Census Bureau said that retail sales rose to a seasonally adjusted 0.2%, from 0.7% in the preceding month whose figure was revised up from 0.6%. Analysts had expected retail sales to rise 0.3% last month.

5. U.S. manufacturing output contracted more than expected in August, dragged down by a sharp fall in auto production that could moderate economic growth in the third quarter.

American factories churned out 0.5 percent fewer goods last month, the Federal Reserve said on Tuesday.

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