Apr 16, 2019

Tiger's Masters win could be a boon for the golf business

Tiger Woods after a 2008 win, and on Sunday. Photos: Andy Lyons/Getty Images; Kevin C. Cox/Getty Images

Tiger Woods' win at the Masters could revitalize the golf industry, which has struggled in the past decade, AP reports.

The backdrop: Enthusiasm for golf waned during Tiger's 11-year drought between major wins. Nike stopped selling golf equipment in 2016 to focus on apparel. About a year later, rival Adidas sold off its golf business.

During the tournament, Woods wore head-to-toe Nike, with the swoosh on his hat, shirt, pants and shoes.

  • Shares rose for Nike, the sponsor that stood by Woods after his 2009 car crash and reports of extramarital affairs.
  • Shares of energy drink maker Monster Beverage Corp., a sponsor whose green logo appears on Woods' golf bag, gained about 2%.
  • TV ratings of golf tournaments and sales of golf equipment are likely to rise, at least in the short run.

Go deeper: Axios' Deep Dive on business of sports

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Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,359 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

Go deeperArrowUpdated 5 hours ago - Health

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.