Maria Sharapova loses endorsement deals

Nike and other companies have suspended their endorsement deals with Maria Sharapova after the tennis star admitted to failing a trust test at this year's Australian Open.

The world's highest-paid female athlete admitted yesterday she had been taking the drug meldonium since 2006. She claims she didn't realize it was declared a banned substance by the World Anti-Doping Agency at the start of 2016.

Meldonium, aka mildronate, can increase blood flow, which improves exercise capacity in athletes.

Read more from CNNMoney.