Dozens of fruit growers arrested in Spain over illegal wells as drought grips the country
Spanish police have arrested 26 people in recent months for an alleged scheme to use water from illegal wells to grow subtropical fruit, as the country grapples with damaging heat and drought.
2023-05-10 02:51
US says disabled Russian spyware used for two decades
The US Justice Department said Tuesday that it had disabled a "sophisticated" malware network used by Russia's FSB intelligence agency for two decades to spy in...
2023-05-10 02:51
Man guilty in Texas protest killing posted 'I am a racist'
Prosecutors are seeking to portray as racist a U.S. Army sergeant who fatally shot an armed man during a Black Lives Matter protest demonstration in Texas, saying he was was hostile toward social justice causes and looking for trouble before the encounter
2023-05-10 02:27
Signed in purple ink, Minnesota dedicates highway to Prince
The late pop superstar Prince is being honored in Minnesota as the state renames a stretch of highway after him
2023-05-10 02:25
Turks in Germany report heckling from Erdogan backers
Supporters of Turkish President Recep Tayyip Erdogan in Germany have been trying to intimidate voters ahead of the country's crunch election, politicians...
2023-05-10 02:23
Tribes split over Biden plan to ban drilling near New Mexico cultural site
By Nichola Groom The Navajo Nation has withdrawn support for a Biden administration plan to stop new oil
2023-05-10 02:21
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
Russian citizens take language test to avoid expulsion from Latvia
By Andrius Sytas RIGA (Reuters) -In a Stalinist skyscraper which dominates the skyline of Latvia's capital, dozens of elderly Russians
2023-05-10 01:51
Ecuador seals record debt-for-nature swap with Galapagos bond
By Marc Jones and Rodrigo Campos LONDON/NEW YORK Ecuador sealed the world's largest 'debt-for-nature' swap on record on
2023-05-10 01:50
Justin Carver: Florida man arrested after his dead mother's decomposed body was found at home
Justin D Carver,36, allegedly failed to report to a medical examiner about the death of his mother, Layni Carver, 55
2023-05-10 01:48
Biden's approval rating at 40%, Americans concerned about immigration - Reuters/Ipsos
By Jason Lange WASHINGTON U.S. President Joe Biden's public approval was at 40% in recent days, close to
2023-05-10 01:45
Half of Chicago residents have been exposed to gun violence: study
Half of the residents of Chicago have witnessed a shooting by the age of 40 with Blacks significantly more likely to have done so than whites, according...
2023-05-10 01:28
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