News
Adidas faces potential $320M Yeezy shoe write-off post-Kanye split
Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.
The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.
The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.
However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.
The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.
Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.
News
Oscar winner Robert Duvall dies aged 95 leaving a towering legacy
Oscar-winning actor Robert Duvall, 95, dies, leaving a legacy that shaped modern cinema with iconic roles.
Oscar-winning actor Robert Duvall, 95, dies, leaving a legacy that shaped modern cinema with iconic roles.
Oscar-winning actor Robert Duvall has died at the age of 95, marking the end of an era for one of Hollywood’s most respected performers. Best known for his role as Tom Hagen in The Godfather, Duvall built a career defined by power, restraint and authenticity on screen.
From early theatre work to standout performances in To Kill A Mockingbird and Apocalypse Now, Duvall became one of the most versatile actors of his generation. He later won the Academy Award for Tender Mercies, cementing his place among cinema’s elite.
Beyond acting, Duvall was also an accomplished director and musician, earning admiration for his dedication to craft and character. His legacy leaves an indelible mark on American film history.
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News
Iran nuclear talks resume as U.S. boosts military presence
Iran’s foreign minister meets IAEA chief amid nuclear talks with the US, as tensions rise with military movements in the region.
Iran’s foreign minister meets IAEA chief amid nuclear talks with the US, as tensions rise with military movements in the region.
Iran’s foreign minister has met with the head of the International Atomic Energy Agency ahead of renewed talks between Washington and Tehran, signalling a fresh diplomatic push to resolve the long-running nuclear dispute. The discussions centre on Iran’s nuclear programme, which the U.S. and its allies fear could pave the way for weapons development.
Tehran insists it will only scale back nuclear activities if sanctions are lifted, while U.S. Secretary of State Marco Rubio admits negotiations remain challenging.
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Money
AI fears rattle global markets and investors
AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.
AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.
Global stock markets are experiencing heightened volatility as concerns about AI disruption sweep across industries. Investors are closely monitoring which sectors could be most affected as the technology continues to evolve.
Recent announcements from major US AI companies sent waves through international markets, highlighting the interconnected nature of global finance and technology. European software giants such as Dassault Systèmes and RELX saw significant declines, underscoring the global reach of AI developments.
UBS analysts warn that the impact of AI disruption could intensify in 2026 and 2027, with potential ramifications for a wide range of sectors.
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