Microsoft Corp. faces a European Union probe over concerns it’s driving out competition by unfairly bundling its Teams

Donald Trump agreed to a $200,000 bond in the Georgia criminal case accusing him of leading a conspiracy

Party City exited bankruptcy on Wednesday after a US judge signed off on the retailer's reorganization plans. While some of Party City's about 800 US stores will close due to the bankruptcy agreement, the majority will stay open.

A quasi-independent review board recommends that Facebook temporarily suspend the social media accounts of Cambodia's prime minister

An also-ran who helped push Turkey to its first run-off election on May 28 is using his new-found fame to make ultra-nationalism mainstream and...

Canadian Prime Minister Justin Trudeau expects interest rates are going to start coming down by the middle of

By Mike Dolan LONDON Hype or hope, this year's boom in artificial intelligence along with other productivity-enhancing tech

Save $300: As of July 14, the roborock Q5+ is on sale at Amazon for

CHICAGO--(BUSINESS WIRE)--Oct 9, 2023--

Bets on long-dated Treasuries have backfired as the US economy holds firm, but payday is coming for those

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.

Thailand’s economy grew at a slower pace in the third quarter, supporting the case for the new government