‘I feel hopeless': Living in a country on the brink
Two years into an economic crisis and unable to hold their leaders to account, young Lao see no hope.
2023-10-09 06:21
Stubborn Core CPI Helps Explain Some Fed Restlessness: Eco Week
Underlying US price pressures are seen advancing at a pace that backs apprehension among Federal Reserve officials to
2023-11-12 05:53
China’s Spying in Cuba Picks Up Where the Soviet Union Left Off
For half a century, America’s top geopolitical rival used a spy base in nearby Cuba to steal US
2023-06-16 09:25
Who was Thalia Chaverria? New Mexico State University soccer player found dead at home shortly after turning 20
Thalia Chaverria was a native of Bakersfield and was pursuing her passion for soccer at the New Mexico State University
2023-07-13 13:59
President Biden interviewed as part of special counsel investigation into classified documents
The White House says President Joe Biden has been interviewed as part of the special counsel investigation into his handling of classified documents
2023-10-10 08:18
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
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.
2023-05-10 02:19
Sudan officials say airstrike kills 17, including 5 children, in capital Khartoum
Sudanese health officials say an airstrike in Sudan’s capital Khartoum has killed at least 17 people, including five children as fighting continued between rival generals seeking to control the country
2023-06-17 20:54
Who is Arthur Ergoron? Trump lashes out at New York judge for ruling against him in fraud lawsuit
The civil lawsuit had accused Trump of inflating property valuations with lenders while diminishing them with tax authorities
2023-09-27 19:16
'I prefer the doing of it': Brian Cox admits he hasn't watched many 'Succession' episodes as he is 'bored'
Brian Cox confirmed that he has still not seen Logan Roy death sequence in the final season of 'Succession'
2023-06-14 12:48
DeSantis says ‘of course’ Trump lost in 2020 as ex-president attacks US Women’s team after loss - latest
Florida Gov Ron DeSantis admitted in an interview with NBC News that former president Donald Trump lost the 2020 presidential election, as he seeks to recalibrate his campaign. Mr DeSantis initially told NBC News’s Dasha Burns in an interview that will air on NBC Nightly News on Monday evening that whoever is inaugurated on 20 January is considered the winner, in a dodge answer. “Whoever puts their hand on the Bible on Jan 20 every four years is the winner,” he said. When pressed, Mr DeSantis said that President Biden defeated Mr Trump. “No, of course he lost,” he said of Mr Trump. “Joe Biden’s the president.” Meanwhile, Mr Trump had a meltdown on Sunday night where he attacked President Joe Biden, striker Megan Rapinoe and “wokeness” for the US’s unexpected early defeat in the Women’s World Cup. The former president took to Truth Social to bizarrely claim the loss was a sign of the influence “Crooked Joe Biden” has had on the nation. He also somehow blamed the “WOKE”-ness and cruelly trolled Rapinoe for missing a penalty. Read More Judge tosses Trump's defamation suit against writer who won sexual abuse lawsuit against him Rudy Giuliani selling $6.5m NYC apartment as legal woes pile up Judge dismisses Trump defamation lawsuit against E Jean Carroll for CNN statements Trump asks supporters heavily leading question about participating in GOP debate Ron DeSantis admits ‘of course’ Donald Trump lost the election
2023-08-08 03:51
Imran Khan, the cricket star who ditched playboy image to rule Pakistan
Former Pakistan Prime Minister Imran Khan, a cricketing hero-turned-politician who was arrested on Tuesday, whipped up popular support
2023-05-09 18:50
Meadows seeks to move Fulton County election case to federal court
WASHINGTON Former White House Chief of Staff Mark Meadows filed notice on Tuesday seeking to move a case
2023-08-16 05:52
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