List of All Articles with Tag 'p'

Rain headed for the areas in western Canada struck by a spate of wildfires should improve safety conditions,

Federal Reserve Bank of New York President John Williams said he is monitoring how strains in the banking

Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

SANTIAGO Chile state-owned miner Codelco and multinational miner BHP Group signed a knowledge-sharing agreement on sustainable mining, Codelco

By Divya Rajagopal TORONTO Pierre Lassonde, a Canadian mining industry veteran, has made an offer to invest in

A former BNSF worker who was named one of the railroad’s employees of the year in 2021 for her work in supporting LGBTQ+ workers is now suing the railroad where she worked for 30 years

RICHARDSON, Texas--(BUSINESS WIRE)--May 9, 2023--

Colombian policymakers may start to discuss interest rate cuts in the second half of the year if inflation

Sri Lankan authorities formally presented on Tuesday a request for debt treatment in the first meeting of the

By Tiyashi Datta and Caroline Valetkevitch Production forecast cuts at Fisker Inc and Lucid Group have signaled more

By Marc Jones and Rodrigo Campos LONDON/NEW YORK Ecuador sealed the world's largest 'debt-for-nature' swap on record on

Republican House Speaker Kevin McCarthy rejected the possibility of a short-term debt-limit extension hours ahead of a meeting